Mallplaza completes $353 million purchase of malls in Colombia

Mallplaza completed the acquisition of eight shopping centers operating under the Gran Plaza brand in Colombia for approximately $353 million on October 1, 2026. The company had reached a binding agreement with Patrimonio Autónomo Pactia in late July. The transaction was finalized after completing due diligence and obtaining approval from Colombia's Superintendencia de Industria y Comercio.

The transaction adds approximately 180,000 square meters of gross leasable area and brings five new cities into Mallplaza's portfolio. With this expansion, the shopping mall subsidiary of Grupo Falabella reaches more than 460,000 square meters of gross leasable area in Colombia across 13 urban centers, positioning it as the country's second-largest shopping center operator.

The eight acquired properties recorded roughly 57 million visitors last year. Over the last 12 months, the assets generated a net operating income of $33.2 million.

Pablo Pulido, general manager of Mallplaza, stated that the closing represents a turning point for the firm in Colombia. He added that the agreement strengthens the company's position as the leading urban center platform in the Andean region and confirms its long-term commitment to the country after more than 35 years of building its business model.