The transaction was approved by the Colombian Superintendency of Industry and Trade (SIC) and the boards of both companies, consolidating Mallplaza as the biggest shopping center operator in the Andean Region.
This will bring the company’s GLA to over 2.5 million m2 in Chile, Peru and Colombia.
Santiago, 1 October 2026.- Mallplaza reported the materialization of the purchase of eight Gran Plaza shopping centers from the real estate fund Pactia in Colombia, after meeting all conditions agreed to last July. The deal was closed after successfully passing the due diligence process and receiving authorization from the Colombian Superintendency of Industry and Trade’s (SIC), in addition to its approval by the Mallplaza and Pactia boards.
The transaction is valued at COP 1,177,806,418,253 (around USD 353 million at the current exchange rate), with a cape rate of 9.4% (last 12 months), making it one of the most significant transactions in the Colombian shopping center industry, both for the number of assets and the gross leasable area involved. The eight centers that were acquired reported a flow of around 57 million visitors and a Net Operating Income (NOI) of around COP 111 billion (approximately USD 33.2 million) in the last 12 months.
“We are very pleased to announce the successful close of this acquisition, a milestone that marks a before and after for Mallplaza in Colombia. This agreement not only strengthens our position as the main urban center platform in the Andean Region but is also a sign of confidence in the business model we have built for over 35 years. The incorporation of these assets brings the number of urban centers we operate in Colombia to 13, reaffirming our long-term commitment to the country’s growth and development,” Mallplaza CEO Pablo Publido said.
This transaction will add about 180,000 m² in Gross Leasable Area (GLA) to Mallplaza’s portfolio and expand its presence to five new Colombian cities, in addition to three new assets in Bogota, thus increasing its area of influence to nearly 3.6 million people. This will bring the company’s GLA in the country to 460,000 m², making it the second-largest shopping center operator in Colombia, where it already operated Mallplaza NQS, Mallplaza Cali, Mallplaza Cartagena, Mallplaza Manizales and Mallplaza Buenavista. Thus, Colombia now represents 18.4% of the Mallplaza’s total GLA, which now exceeds 2.5 million m² regionally.
“Colombia has been part of Mallplaza’s history since 2012, and the closing of this deal represents a decisive step in continuing to build a robust value proposition that is close to people in each city we arrive in. We will work to imprint the Mallplaza hallmark on these assets, maintaining the essence of each community,” added.
This transaction reaffirms Mallplaza’s strategy of sustained growth, strengthening its role as a strategic ally for brands and investors and as an engine of economic, urban and social development in the markets where it operates.
