Spotlight on recent transactions in Brazil

The retail sector has been a key area of focus for Ivanhoé Cambridge in Brazil ever since the inception of our longstanding partnership with the Carvalho family, which led to the creation of the Ancar Ivanhoé platform in 2006. Today, Ancar Ivanhoé is the second largest Brazilian mall company, growing from three assets to 26 shopping malls under management, 18 of which we own.


In recent months, this dynamic sector has undergone a shift in asset allocation, with minority stakes changing hands. We actively participated in this transaction activity, seizing the opportunity to further optimize our Ancar Ivanhoé portfolio.

We captured additional investments in two partially owned strategic assets, both located in the metropolitan region of Rio de Janeiro. We increased our ownership stake in Shopping Nova Iguaçu by 44%, effectively gaining control of the asset, and we acquired the remaining 25% stake in Botafogo Praia Shopping.

Alongside these acquisitions, we crystallized significant gains by selling partial stakes in three other owned assets: Via Sul Shopping in Fortaleza, Conjunto Nacional Brasilia Shopping, and Natal Shopping. This combined transaction, which totalled nearly R$300 million (approximately C$80 million), marks our second partial portfolio sale to Vinci FII, a Brazilian REIT.

You can now read the full press release at the link below