Chile’s Parque Arauco to expand after $163.53 mn deal with Credicorp Capital

Chile’s Parque Arauco completed a transaction with the Real Estate Collective Investment Fund, Inmoval, which belongs to Credicorp Capital Colombia. The group sold a 49% stake in the Parque Caracolí (Santander) and Parque La Colina (Bogotá) shopping centres to Inmoval for a total of Col$588 billion ($163.53 million). Parque Arauco estimated that the profits from the sale will be Col$185 billion ($51.45 million), money that will be used for new investments and long-term expansion.

Source: La República