Parque Arauco buys Mall Paseo Quilín for $113 million

Parque Arauco closed the acquisition of Mall Paseo Quilín, a deal first announced in May that adds roughly 47,000 square meters of gross leasable area in the Peñalolén district of Santiago to its portfolio. The company signed the agreement with Inversiones Cousiño Macul Limitada, La Rural Inversiones SpA, and Nueva Braunau Inversiones SpA to acquire 100% of the shares of Inmobiliaria Paseo Quilín S.A. and Invercom S.A., according to a regulatory filing sent to Chile's Financial Market Commission.

The transaction values the asset at UF 2,650,000, or approximately $113 million. The deal carries an equity value of UF 1,917,875 (around $82 million) and net financial debt of UF 732,125 (about $31 million). Parque Arauco paid 60% of the total upon closing, with the remaining 40% scheduled for payment on March 31, 2027. The company assumes full control of the property on October 1.

Through this transaction, Parque Arauco gained direct and indirect control of Mall Paseo Quilín S.A. and Cobradora Paseo Quilín SpA, the entities that own the real estate, facilities, and related assets. The mall's primary prior shareholders were the Cousiño Macul family and businessman Sergio Mujica Charme. Major operators at the center include Paris, ABC, Easy, Santa Isabel, Cineplanet, and a medical center operated by the Universidad de Chile Clinical Hospital.

Eduardo Pérez Marchant, CEO of Parque Arauco, stated that the acquisition adds an established asset in southeastern Santiago and noted that the company will now focus on strengthening the property's value proposition. The purchase forms part of Parque Arauco's broader $1,137 million investment plan across its regional markets, which covers new malls, expansions of existing properties, and multifamily residential projects.