Equity International Announces Closing of First Investment in Chile.CHICAGO -- Equity International, the international private equity firm affiliated with Sam Zell's Equity Group Investments, LLC (Logical Link Control) See "LANs" under data link protocol. LLC - Logical Link Control , announced today the closing of its investment in Santiago, Chile-based Parque Arauco, a leading owner and operator of shopping centers. Equity International announced on September 8, 2006, that it had invested $50 million through a new share issuance and assignment of subscription rights by certain shareholders. With recent shareholder approval and registration of the new shares with Superintendencia de Valores y Seguros, Equity International now owns approximately 12.5 percent of the company. Parque Arauco owns and operates shopping centers in Chile and also owns a 30 percent interest in the Buenos Aires-based Alto Palermo Shopping Center portfolio in Argentina and a 45 percent interest in the Lima, Peru-based MegaPlaza Norte portfolio. The South American retail sector offers a wealth of opportunities for growth and consolidation. The entry of Equity International represents a new growth phase for Parque Arauco through further expansion in Chile, as well as increased growth through acquisition outside of Chile. "Equity International is an experienced investor, focusing on high-value opportunities with scalable platforms,"said Gary Garrabrant, Equity International's chief executive officer. "We are excited to put our capital market knowledge and real estate operating experience to work in one of the region's most dynamic companies and active sectors." "Equity International is recognized as one of the most prestigious and successful real estate investors A real estate investor is someone who actively or passively invests in real estate. An active investor may buy a property, make repairs and/or improvements to the property, and sell it later for a profit. in the world. We are delighted with their investment in Parque Arauco," said Andres Olivos, Parque Arauco's general manager. "This partnership will bring many benefits to our company as well as the Chilean retail market." Equity International will provide advice and counsel on Parque Arauco's strategy and direction through representation on the company's Board of Directors and Executive Committee. By applying distinct competitive advantages, including the ability to identify, develop and direct world-class companies, Equity International will work to develop and expand Parque Arauco, bringing further success to the leading Chilean retail company. About Parque Arauco Parque Arauco is a publicly listed Chilean company that develops and manages shopping malls in Chile, Argentina and Peru. Established in 1979, Parque Arauco was the pioneer in the Chilean market with the opening of their first shopping mall, Parque Arauco Kennedy in 1982. Today, Parque Arauco owns 100% of Parque Arauco Kennedy and Parque Arauco Maipu in Santiago (Chile), 33.3% of Mall Marina Arauco in Vina del Mar Vi·ña del Mar A city of central Chile, a resort and residential suburb of Valparaíso on the Pacific Ocean. Population: 307,000. Noun 1. (Chile), 31.6% of Alto Palermo Shopping portfolio in Argentina and 45% of the Megaplaza Norte Shopping Center in Lima, Peru. About Equity International Equity International is a private equity firm that invests in real estate-related companies outside of the United States United States, officially United States of America, republic (2005 est. pop. 295,734,000), 3,539,227 sq mi (9,166,598 sq km), North America. The United States is the world's third largest country in population and the fourth largest country in area. . Established in 1999, Equity International is affiliated with Equity Group Investments, LLC, the investment company led by Sam Zell Samuel "Sam" Zell (born September 1941) is a U.S.-born billionaire and real estate entrepreneur. He is co-founder and Chairman of Equity Group Investments, a private investment firm. . Mr. Zell founded and is Chairman of four public real estate related companies, with an aggregate equity market capitalization Equity Market Capitalization A measure of the total market value of an equity market. The measure is calculated by taking the market capitalization of all companies in the equity market and adding them together to arrive at the capitalization for the market as a whole. in excess of $30 billion. Two of the companies, Equity Office Properties Trust Equity Office Properties Trust, headquartered in Chicago, Illinois, is the largest owner of office buildings in the United States. It was formed in 1976 by Samuel Zell [1] and in February 2007, was acquired by the Blackstone Group for $23 billion plus the assumption of (NYSE NYSE See: New York Stock Exchange : EOP EOP Educational Opportunity Program (California State University) EOP Executive Office of the President EOP Equity Office Properties Trust (ticker) EOP Emergency Operations Plan EOP Earth Orientation Parameters ) and Equity Residential Properties Trust (NYSE: EQR EQR External Quality Review EQR Educational Quality Ranking EQR Environmental Quality Report EQR Enlisted Qualification Record EQR Essential Qualification Requirement EQR Equi-Rectangular ) are members of the S&P 500. For more information see www.equityinternational.com. |
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