Parque Arauco takes full control of Mall Paseo Quilín in $82M deal
What's the deal? Parque AraucoDealroom has a profile for this one. Try Dealroom → has completed its acquisition of Mall Paseo QuilínDealroom has a profile for this one. Try Dealroom →, buying out the Cousiño Valdés family and businessman Sergio Mujica Charme. The Chilean firm paid roughly $82 million for the shares and took full control of the shopping centre in Peñalolén, on the south-eastern edge of Santiago, from October 1.
The terms: The deal, first announced in May, valued the asset at about $113 million, including net financial debt of roughly $31 million. Parque Arauco paid 60% of the price at closing; the remaining 40% is due by March 31, 2027, subject to certain recalculations set out in the contract.
What's the endgame? The mall spans about 47,000m² of gross leasable area and sits at the junction of Américo Vespucio Sur and Avenida Quilín, with direct access to the Quilín station on Metro Line 4. "Our focus now will be to work on a plan to strengthen the asset's value proposition that benefits the neighbouring communities," said chief executive officer Eduardo Pérez Marchant (translated from Spanish).
Why now? Connectivity to the site is set to improve with the AVO II highway, projected for 2028. That timeline underpins Parque Arauco's case for a location it describes as consolidated and privileged.
The signal: Parque Arauco is a multi-format property developer and operator active in Chile, Peru, and Colombia, running more than 1.3 million m² of leasable space across malls, strip centres, outlets, and multifamily buildings. Absorbing a family-owned mall into that portfolio reflects the steady consolidation of Latin American retail real estate under larger operators.
Read more: latercera.com
Image credit: Oran Viriyincy
