Mallplaza Expands Regional Footprint with Major Purchase of Colombian Shopping Centers
Bogota, Saturday, 1 August 2026.
Mallplaza has agreed to buy eight Colombian shopping centers for $376 million. The expansion significantly grows its regional footprint, acquiring assets that drew 57 million annual visitors.
Strategic Acquisition Announced
Chilean commercial real estate operator Mallplaza has signed a binding agreement to acquire eight shopping centers in Colombia from investment firm Pactia [1]. The transaction, announced on 31 July 2026, values the portfolio at COP 1,177,806,418,253, approximately equivalent to USD 376 million [2][5]. This strategic move involves the acquisition of fiduciary rights for assets operating under the “Gran Plaza” brand across various Colombian cities [4]. The deal underscores Mallplaza’s commitment to expanding its regional footprint despite global economic headwinds [1].
Expansion of Regional Footprint
Upon completion, this acquisition will add 180,000 square meters of Gross Leasable Area (GLA) to Mallplaza’s portfolio [3]. The company will manage a total of 45 assets across Chile, Peru, and Colombia, with total GLA exceeding 2.5 million square meters [1]. Colombia’s share of the total GLA is projected to reach 18.4%, representing over 460,000 square meters in the country [3]. This expansion brings Mallplaza’s presence to 13 assets in Colombia, increasing its influence to nearly 3.6 million Colombians [4].
Asset Performance and Valuation
The eight acquired centers generated significant traffic, recording approximately 57 million visitor flows in 2025 [2]. This volume averages to 7.125 million visitors per center annually, highlighting the high engagement of the locations [3]. Financially, the assets produced a Net Operating Income (NOI) of roughly COP 111 billion (approx. USD 35.4 million) in the 12 months leading up to the transaction [4]. The transaction price is subject to adjustment at closing based on standard mechanisms for this type of operation [2].
Regulatory Status and Leadership Outlook
The transaction awaits completion of standard prerequisites and approval by Colombian regulatory authorities, with expectations to finalize within the second semester of 2026 [4]. Pablo Pulido, CEO of Mallplaza, stated that growth is part of the company’s DNA and this agreement signals confidence in their platform [1]. Pulido emphasized that Colombia remains a very attractive market, with the company aiming to contribute to the economic and social development of these communities [3]. The deal is executed through Mallplaza’s private equity fund vehicle in the country [2].