MONTREAL, Aug. 4 /CNW Telbec/ - Ivanhoe Cambridge and Brazil-based Ancar
are pleased to announce the acquisition of Sco Marcos Real Estate Enterprises
(Sao Marcos), co-owner of four high-quality shopping centres in Brazil, a
flourishing and promising market. This acquisition positions the joint venture
among the five largest shopping centre companies in Brazil. Ivanhoe Cambridge
and Ancar have been associated in that country since 2006.
Sao Marcos owns 51% of Botafogo Praia Shopping (Rio de Janeiro), 100% of
the entertainment area of the Downtown complex (Rio de Janeiro), 50% of
Shopping Interlagos (Sao Paulo) and 50% of CenterVale Shopping (Sao Paulo).
"Ivanhoe Cambridge is moving ahead with its international expansion as
called for in its strategic plan. This transaction not only allows us to
reinforce our presence in Brazil, a market with excellent growth potential,
but also to consolidate our ties with Ancar, our partner in this country. I am
especially proud that we were able to seize this business opportunity, which
meets our investment criteria," says René Tremblay, President and CEO of
Moreover, Ivanhoe Cambridge has increased its interest in the development
and management firm Ancar Gestco from 20% to 50%.
"This acquisition represents an excellent opportunity for both partners
to capitalize on their expertise in shopping centre management and development
for the benefit of the properties, their retailers and their customers. It
will be business as usual in all four properties as Ancar and Ivanhoe
Cambridge have committed to ensure a smooth transition and work with retailers
to maximize the performance of these quality properties", adds Marcos
Carvalho, President of Ancar.
A portfolio of market-dominant properties
- CenterVale Shopping (Sao José dos Campos, in the state of Sao Paulo)
Built in 1987, CenterVale Shopping is located approximately one hundred
kilometres from Sco Paulo. With a leasable area of 486,000 square feet
(45,150 m2), it has 8 anchor tenants, 219 retailers and a movie
theatre. CenterVale Shopping is the largest shopping destination in its
- Shopping Interlagos (Sao Paulo)
Shopping Interlagos is situated in one of the most popular
neighbourhoods of Sao Paulo. Its convenient location, close to public
transit and services, makes it a destination of choice for consumers.
With a leasable area of 1,130,000 square feet (105,000 m2), it boasts
10 anchor tenants, 260 retailers and a 10-screen movie theatre.
- Downtown Complex (Rio de Janeiro)
Located in Rio de Janeiro, Downtown Complex is an urban lifestyle
shopping centre. Sco Marcos owns the complex's food court, multiplex
cinemas and university campus. Its 1,399,300 square feet (130,000 m2)
house 520 retailers.
- Botafogo Praia Shopping (Rio de Janeiro)
Open since 1999 and offering 167,900 square feet (15,600 m2) of
leasable space, Botafogo Praia Shopping has 3 anchor stores and
145 retailers. Its accessibility and busy food court make it a very
With this acquisition, Ivanhoe Cambridge and Ancar detain participations
in and/or management responsibilities for 15 shopping centres distributed in
five regions of the country, including 10 located in the southeast.
About Ivanhoe Cambridge
Ivanhoe Cambridge is a pre-eminent Canadian-based global property owner,
manager, developer and investor, focusing on high-quality shopping centres
located in urban areas. Beyond its strong Canada-wide presence, the Company is
also active in the United States, Brazil, Mexico and Europe, where it owns a
number of properties either by itself or through joint ventures with prominent
real estate partners. Abroad, Ivanhoe Cambridge also holds interests in
several shopping centre development and management companies and maintains
offices in Europe and Asia.
Its real estate portfolio consists of more than 44 million square feet
(4 million square metres) of retail space and includes some 70 regional and
super-regional shopping centres. As at December 31, 2007, the market value of
Ivanhoe Cambridge's assets reached CAD $13.4 billion.
Headquartered in Montreal, Quebec, Canada, Ivanhoe Cambridge is a
principal real estate subsidiary of the Caisse de dépôt et placement du
Québec, one of the largest institutional fund managers in Canada. Amongst its
shareholders, the Company also counts four prominent Canadian pension funds.
The Company's Internet address is www.ivanhoecambridge.com.
Headquartered in Rio de Janeiro, Ancar is a pioneer company in the
market, with more than 35 years of existence and performance. It was
responsible for the opening of the first shopping mall in cities like
Brasilia, Recife and Porto Alegre. Today, Ancar's portfolio comprises shopping
malls that it either directly owns (Shopping Nova America, Conjunto Nacional
Brasilia, Iguatemi Porto Alegre, Natal Shopping and Porto Velho Shopping/RO,
which will open in October/08) or manages (Rio Design Barra, Rio Design
Leblon, Sao Gonçalo Shopping (RJ); Shopping Metrô Itaquera, Shopping Eldorado
(both in SP) and Pantanal Shopping).
Ancar's expertize in development has long been its trademark. Its
projects are also exemplified by the cases of Shopping Nova America and Rio
Design Leblon and Barra, for which it received international recognition
through the ICSC (International Council of Shopping Centers). Ancar has been a
partner of Ivanhoe Cambridge since September 2006. Its website adresse is:
Ancar in numbers (after acquisition):
Number of shoppings: 15, distributed in five regions of the country
ABL total (shoppings): 560,922 m2
Numbers of stores: 2,794
27,939 parking spaces
Sales (declared in 2007): R$ 3.8 billion
For further information:
For further information: Canada: Nancy Defoy, Senior Advisor,
Communications and Public Affairs, Ivanhoe Cambridge, (514) 841-7792,
firstname.lastname@example.org; Brazil: Denise Reis, Communications Advisor and
Public Affairs, Ancar, (21) 3525-7774, email@example.com