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Equity International sells Parque Arauco shares

Equity International, a privately held investment company focused on real estate-related businesses operating outside of the US, has sold approximately 82 million shares of Parque Arauc

Equity International, a privately held investment company focused on real estate-related businesses operating outside of the US, has sold approximately 82 million shares of Parque Arauco, a publicly traded retail property company in Chile.

The Said Somavía and Said Yarur families acquired Equity International’s stake, making the Said family the largest shareholder in the company.

Headquartered in Santiago, Parque Arauco has ownership interests in shopping malls and retail properties comprising more than 660,000 square metres of gross leasable area.

Since Equity International’s original 2006 investment, the company has grown its portfolio organically through expansion and new development, as well as externally through property-level acquisitions and investments. The company has expanded geographically, targeting high-growth underserved markets across Latin America, and has diversified its product base with new formats such as mixed-use properties, open-air centers and outlet malls.

‘Parque Arauco has distinguished itself as a professional operator and achieved significant brand value and recognition,’ says Gary Garrabrant, Equity International’s chief executive officer. ‘Equity International remains enthusiastic for the company’s prospects as it continues to expand its pan-Latin presence.’

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