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15 JUL

Boston Tower's Floor Sale

The company announced yesterday that it has signed an agreement to sell to a non-related party a mid-rise floor with an area of approximately 1,063 sqm and 5 parking spaces of Boston Tower located at 265 Della Paolera in Catalinas District of Buenos Aires City.

The transaction price was set at approximately USD 6.7 million (USD/sqm 6,300), which had already been paid.

After this transaction, IRSA PC keeps the ownership of 12 floors of the building with an approximate leasable area of 13,800 sqm, in addition to parking units and other complementary spaces.

The accounting result of this operation will be recognized in the Company's Financial Statements for the first quarter of FY 2021.

The Boston Tower is a modern office building located in one of the most premium corporate areas of the City of Buenos Aires. It was designed by the renowned architect Cesar Pelli and has 27 floors and 60 parking spaces in 31,670 sqm of gross leasable area.