Chile’s Grupo Patio enters the Peruvian market

Chilean real estate developer and operator Grupo Patio SpA has invested €150 million in the acquisition of four shopping malls in the cities of Piura and Huacho & Ica.

The malls that are now part of Grupo Patio are Plaza del Sol (Ica), Plaza del Sol (Huacho), Plaza de la Luna (Piura) y Plaza del Sol (Piura) . These four commercial properties have a combined footfall of 27 million visitors per annum and are 90% let.

Some of the anchor tenants are Falabella and its brands Sodimac and Tottus; as well as Metro, owned by Cencosud; and Plaza Vea, owned by Intercorp.

Following the acquisition, Grupo Patio manages 94,067m2 of GLA of which 10,642m2 correspond to office buildings. The Chilean real estate giant has teamed up with Peru’s Inmobiliaria Algeciras and placed Cristian Onetto Larraín as general manager of the new Peruvian office.

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