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Parque Arauco Acquires Peruvian Centre

The Chilean retail and shopping centre giant Parque Arauco has acquired the Minka shopping complex in Peru.

“We announce the acquisition of Minka, one of the main shopping centres in Lima with a rentable space of 54,800sq m and more than 18 million visitors per year, for an asset value of 102 million dollars,” said Eduardo Pérez Marchant, CEO of Parque Arauco SA.

Currently, the Minka shopping centre has a wide range of shops, including line stores and outlet stores, both local and foreign brands, with Adidas and H&M being the main brands, among others.

“It is a large shopping centre that will become our second most important asset in Peru in terms of sales and the third most important in terms of Ebitda, after Megaplaza Independencia and Larcomar,” he continued.

Minka has a great location, with its area of ​​influence increasingly being converted from industrial zones to residential zones and from low-rise residential zones to mid-rise residential zones, a situation that will continue to be replicated in the coming years and will redensify the area.

The commercial complex is located near the airport and is characterised by having 30 per cent of its commercial surface dedicated to the sale of food, with three supermarkets and a fresh produce market where many restaurant owners in Lima get their supplies.

“The acquisition, which will be financed with our own resources and in compliance with our leverage policy, is subject to compliance with the usual conditions precedent for this type of operation, which we hope will be met by the middle of this year,” he concluded.

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