IRSA informed the National Securities Commission (CNV) that one of its “affiliated” companies handed over the administration and tenure of the Lipstick building in New York – known because the offices of financial advisor Bernie Madoff, sentenced to 150 years in prison, used to work there – something that will generate a accounting profit of US $ 2.5 billion, since the company led by Eduardo Elsztain You will stop facing the cost of renting the land that you have.
As reported to LA NACION sources aware of the decision, When IRSA acquired in 2011 a percentage of the company that controls the property for US $ 30 million, it also agreed to a lease for the land located at 855 Third Avenue in New York, something usual in that market. But when the contract expired, the owner of the land He asked for a very high figure that exceeded the income generated by the building itself.
In this way, the company affiliated with IRSA returned the asset – SL Green was in charge of the administration – and is in negotiations with a real estate developer to sell its percentage in the company that owns the building, which today amounts to 49%.
In the last weeks IRSA it divested assets in Argentina and Israel. On July 31, it was known that he sold the office tower located at Bouchard 710 for US $ 87.2 million. He had paid US $ 27.2 million for that property in June 2005.
Some time before, the firm had also given a land in the Buenos Aires neighborhood of Caballito -where he planned the construction of a shopping center- to the developer Portland in exchange for metros in the Palmeras Ciudad residential project.
Meanwhile, in Israel, It sold its 26% stake in the country’s largest supermarket chain, Shufersal. The transaction was closed for 1456 million new Israeli shekels, equivalent to US $ 426.5 million.
Actually, IRSA is operating 50% of the shopping malls it has in the country, since most of the shopping centers located in the metropolitan region are closed due to the Covid-19 quarantine, with the exception of the Arcos District.
In this sense, last month placed two negotiable obligations for about US $ 38 million to face some debt maturities that will operate until the end of the year given the severe drop in income that being closed implies.
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