TRX Real Estate sells GPA properties and acquires Iguatemi stakes

TRX Real Estate (TRXF11) has entered into a commitment to sell three properties currently leased to Grupo Pão de Açúcar (GPA) for approximately R$ 109.25 million. The fund projects a profit of roughly R$ 34.83 million, or R$ 0.56 per share, if the transaction is completed under the agreed terms. The payment structure involves a 50% upfront payment of R$ 54.62 million upon the signing of the public deed, with the remaining half paid in six semi-annual installments of R$ 9.10 million.

In a separate transaction, TRXF11 acquired stakes in five Iguatemi shopping centers in an R$ 876 million operation. These holdings include 36% in Iguatemi Alphaville, 10% in Iguatemi Ribeirão Preto, 10% in Iguatemi São José do Rio Preto, 35.55% in Praia de Belas, and 36% in I Fashion Outlet Novo Hamburgo. The payment for the shopping center acquisitions includes R$ 569.5 million in cash and R$ 350.5 million in TRXF11 shares.