Buenos
Aires, April 26, 2022 – IRSA Inversiones y Representaciones
S.A. (NYSE:IRS;BYMA:IRSA), communicates that it has purchased, by
public auction from the Government of the Autonomous City of Buenos
Aires (hereinafter "GCABA"), a property located in the corner of
Av. Coronel Díaz and Beruti, in front of the Alto Palermo
shopping center, owned by the Company, in one of the main
commercial corridors of the city, in the Palermo
neighborhood.
The
property, built on an area of approximately 2,386.63 sqm, consists
of a ground floor, six upper levels and a basement, and has a total
covered area of 8,136.85 sqm, with future expansion potential. The
purchase price was ARS 2,158,647,620, which was fully
paid.
As of
today, the signing of the transfer deed of ownership is pending.
Simultaneously with the deed, the Company is required to sign a
bailment agreement with the GCABA, with the latter holding the
property free of charge for a period of 30 months, in accordance
with the conditions agreed upon in the auction.