IGUATEMI EMPRESA DE SHOPPING CENTERS S.A. 
By PRESS RELEASE
IGUATEMI EXCEEDS THE GUIDANCE OF PSV SWAPS AND CREATE ONE OF THE MOST IMPORTANT MIXED USED COMPLEX, IN SÃO JOSÉ DO RIO PRETOSão Paulo, December 27, 2014 - Iguatemi Empresa de Shopping Centers SA (Iguatemi) [Bovespa: IGTA3], one of the largest full-service companies in the shopping center industry in Brazil, announces that held exchanges of PSV for the construction of three residential towers in São José do Rio Preto, interior of São Paulo and sold land for construction of one hotel.
About the Complex
Following the Company's strategy of developing large mixed used complexes, in December 20, Iguatemi signed a contract for a swap of another PSV in the Rio Preto Mall (ender development), in the interior part of São Paulo, for building three residential towers. This operation generated net operating income of R $ 7.5 million in 4Q13.
On the same date, the Iguatemi also signed a contract for the sale of a piece of land for the incorporation of a Hyatt Hotel. The sale generated operating profit of R$ 8.5 million for Iguatemi in 4Q13.
It is important to remember that, in March 2013, Iguatemi had already swapped PSV for the construction of two commercial towers in the same mall, generating net operating income of R$ 14.1 million in 1Q13. Thus, we exceeded our guidance of swaps of PSV for 2013 (R$ 20-30 million), generating R$ 30.1 million of net operating result in the year.
The complex will feature, in addition to the shopping center, two office towers, three high standard residential towers and a
Hyatt hotel, creating one of the most important multiuse complexes in the country.
1
COMUNICADO AO MERCADO
About the Strategy
Swaps of PSV create synergy between our assets and reinforces our strategy to densify properties. As we are reinforcing for several quarters, our properties have a very high potential for vertical integration, which increase the IRR of our projects and create synergy for our malls.
About São José do Rio Preto
The town of São José do Rio Preto has the 15th largest GDP in the state of São Paulo, approximately R$ 10.0 billion. According to the IBGE, in 2010 Rio Preto´s population was 408 thousand inhabitants and a greater than the state average per capita income of R$ 24,500. About. Sao Jose do Rio Preto is formed by the districts of Jaboticabal, Engenheiro Schmitt and Talhado, which together have a population of approximately 485 thousand inhabitants. Its main economic activity is the service sector,
followed by agriculture (specially the culture of sugar cane, corn and tomatoes).
Sobre a Iguatemi Empresa de Shopping Centers S.A.
Iguatemi Empresa de Shopping Centers S.A. (Iguatemi) is one of the largest fall-service companies in the Brazilian shopping malls sector. Its activities cover conception, planning, development and management of regional shopping centers and mixed-use real estate complexes, including commercial tower blocks. It has interests in 15 shopping malls, one outlet and 3 office towers, with total GLA of more 613,000sqm, its owned GLA totaling 380,000sqm. It takes part in the management of 14 of its malls, its outlet and its tower blocks.
It also has 2 shopping malls, one outlet and one commercial tower in development, and 3 expansions in progress at its existing malls. Iguatemi's shares are listed on the Novo Mercado of the São Paulo stock exchange (Bovespa) under the ticker IGTA3.
INVESTOR RELATIONS CONTACTS:
Cristina Betts Vice-President for Finance, Investor Relations Director
Gunther Schrappe Chief Strategic Planning Officer, Investment Relations Officer
Cecília Viriato
Investor Relations Coordinator
Bruno Carobrez
IR Analyst
Tel.: (11) 3137-6877 ri@iguatemi.com.br www.iguatemi.com.br
|
distributed by
|
