IRSA Inversiones y Representaciones S.A.’s Subsidiary Alto Palermo S.A. Announces the Acquisition of a Plot of Land Close to Alto Palermo Shopping Center
BUENOS AIRES, Argentina, June 27 /PRNewswire-FirstCall/ — IRSA
Inversiones y Representaciones S.A.’s subsidiary Alto Palermo S.A. (”APSA”)
reported today to the Argentine Comision Nacional de Valores the
acquisition of a plot of land located at 3351/9 Beruti Street (between
Coronel Diaz Ave. and Bulnes St.) in the well-known neighborhood of
Palermo, City of Buenos Aires.
The transaction was made for a total price of USD 17.8 million,
comprising a total area of 3,207 square meters. The importance of this
acquisition lies in the strategic location of the asset, which is very
close to APSA’s main shopping center known as “Alto Palermo Shopping”
situated at Coronel Diaz Ave. between Santa Fe Ave. and Beruti St.
About IRSA and APSA:
IRSA Inversiones y Representaciones S.A. (NYSE: IRS, BASE: IRSA) is
Argentina’s largest, most well-diversified real estate company, and it is
the only company in the industry whose shares are listed on the Bolsa de
Comercio de Buenos Aires and The New York Stock Exchange.
Through its subsidiary Alto Palermo S.A. (NASDAQ: APSA, BASE: APSA),
IRSA manages an expanding top portfolio of shopping centers in Buenos Aires
and other cities.
As well, IRSA owns a unique portfolio of AAA class office buildings for
rental, primarily in Buenos Aires. The company also develops residential
subdivisions and apartments (specializing in high-rises and loft-style
conversions), having recently celebrated a partnership with Brazilian
developer Cyrela, and owns three luxury hotels. Its solid, diversified
portfolio of properties has established the Company as the leader in the
sector in which it participates, making it the best vehicle to access the
Argentine real estate market. Additionally, IRSA owns an 11.8% stake in
Banco Hipotecario, Argentina’s largest mortgage supplier in the country.
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[Via Real Estate Newswire]