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IRSA (NYSE: IRS) acquires Los Gallegos shopping mall in Mar del Plata for $13.5M

Filing Impact
(Neutral)
Filing Sentiment
(Neutral)
Form Type
6-K

Rhea-AI Filing Summary

IRSA Inversiones y Representaciones reported it has acquired the “Los Gallegos” shopping mall in Mar del Plata through the purchase of 100% of the entities that own the asset. The mall has about 10,500 sqm of gross leasable area with 49 stores, 14 stands, 2 movie theaters, a department store and 115 parking spaces.

The purchase price was USD 13.5 million, of which USD 12.5 million was paid at closing and USD 1 million was retained as collateral. After this transaction, IRSA’s shopping mall portfolio totals 18 assets, 16 of them operated by the company, with more than 400,000 sqm of gross leasable area.

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Insights

IRSA adds a mid-sized mall asset in a key Argentine coastal city.

IRSA is expanding its shopping center footprint by acquiring the “Los Gallegos” mall in Mar del Plata for USD 13.5 million. The asset includes about 10,500 sqm of GLA across multiple retail formats and entertainment uses, plus 115 parking spaces.

Mar del Plata is described as a major commercial hub with nearly 800,000 residents and strong tourist flows, suggesting solid demand drivers for retail traffic. The deal structure includes USD 1 million retained as collateral, which can help address post-closing adjustments or contingencies.

Following the acquisition, IRSA’s shopping mall portfolio comprises 18 assets and more than 400,000 sqm of GLA, indicating a continued focus on scale in Argentine retail real estate. Subsequent disclosures in future periods may show how this property contributes to occupancy, rents and earnings metrics.

Purchase price USD 13.5 million Acquisition of Los Gallegos shopping mall
Cash paid at closing USD 12.5 million Portion of purchase price paid immediately
Collateral retained USD 1 million Part of purchase price held as collateral
Los Gallegos GLA 10,500 sqm Gross leasable area of acquired mall
Parking spaces 115 Parking capacity at Los Gallegos mall
Portfolio shopping malls 18 assets IRSA shopping mall portfolio after acquisition
Portfolio GLA more than 400,000 sqm Total gross leasable area of IRSA’s shopping malls
gross leasable area (GLA) financial
"“Los Gallegos” shopping mall has approximately 10,500 sqm of gross leasable area (GLA)"
Gross leasable area (GLA) is the total floor space in a commercial property that can be rented to tenants, measured from the inside walls and excluding common areas like hallways and shared facilities. For investors, GLA is a basic measure of a building’s earning capacity — like counting the number of rentable shelves in a store — and it’s used to estimate potential rental income, occupancy rates and value per square foot.
collateral financial
"USD 12.5 million was paid at closing, with the remaining USD 1 million retained as a collateral"
Collateral is an asset a borrower pledges to a lender as security for a loan; if the borrower fails to repay, the lender can take the asset to recover losses. For investors, collateral matters because it reduces lender risk, influences interest rates and loan terms, and determines who gets paid first if a company faces financial trouble—think of it like a pawned item that gives the lender extra protection.
shopping malls portfolio financial
"Following this acquisition, the Company’s shopping malls portfolio comprises 18 assets"
entities owning the asset financial
"The transaction was carried out through the acquisition of 100% of the entities owning the asset"
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Form 6-K: How Foreign Companies Report to the SEC →
 
 
 
 
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C.  20549
 
FORM 6-K
 
REPORT OF FOREIGN ISSUER
PURSUANT TO RULE 13a-16 OR 15b-16 OF
THE SECURITIES EXCHANGE ACT OF 1934
 
For the month of June, 2026
 
IRSA Inversiones y Representaciones Sociedad Anónima
(Exact name of Registrant as specified in its charter)
 
IRSA Investments and Representations Inc.
(Translation of registrant´s name into English)
 
Republic of Argentina
(Jurisdiction of incorporation or organization)
 
Carlos M. Della Paolera 261 9th Floor
(C1001ADA)
Buenos Aires, Argentina
(Address of principal executive offices)
 
Form 20-F ⌧                                  Form 40-F  ☐
 
Indicate by check mark whether the registrant by furnishing the information contained in this Form is also thereby furnishing the information to the Commission pursuant to Rule 12g3-2(b) under the Securities Exchange Act of 1934.
 
Yes ☐                                  No ⌧
 
 
 
 
 
 
IRSA INVERSIONES Y REPRESENTACIONES SOCIEDAD ANÓNIMA
(THE “COMPANY”)
 
REPORT ON FORM 6-K
 
 
Attached is the English translation of the summary of the letter dated June 10, 2026, filed by the Company with the Bolsa de Comercio de Buenos Aires  and the Comisión Nacional de Valores.
  
BUENOS AIRES, ARGENTINA –  June 10, 2026 – IRSA Inversiones y Representaciones Sociedad Anónima (the “Company”) (NYSE: IRS),informs that it has acquired “Los Gallegos” shopping mall, located at Rivadavia 3050, in the city of Mar del Plata, Buenos Aires Province. The transaction was carried out through the acquisition of 100% of the entities owning the asset.
 
“Los Gallegos” shopping mall has approximately 10,500 sqm of gross leasable area (GLA), comprising 49 retail stores, 14 stands, 2 movie theaters and a department store. In addition, it includes 115 parking spaces.
 
The purchase price amounted to USD 13.5 million, of which USD 12.5 million was paid at closing, with the remaining USD 1 million retained as a collateral.
 
Mar del Plata, the leading seaside city on Argentina’s Atlantic coast, located 400 km south of the City of Buenos Aires, is one of the country’s main commercial hubs outside the capital. With a population of nearly 800,000 inhabitants and a significant flow of tourists, the city offers strong potential for the development and expansion of commercial activity.
 
Following this acquisition, the Company’s shopping malls portfolio comprises 18 assets, 16 currently operated by IRSA, totaling more than 400,000 sqm of GLA.

 
 
SIGNATURES
 
Pursuant to the requirements of the Securities and Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized, in the city of Buenos Aires, Argentina.
 
 
IRSA Inversiones y Representaciones Sociedad Anónima
 
 
 
 
By:
/S/ Saúl Zang
 
 
Name: Saúl Zang
 
 
Title: Responsible of relationship with the markets
 
June 10, 2026
 
 

 
 
 
 
 
 
 
 
 
 
 

Source: View Original Filing on SEC EDGAR

FAQ

What did IRSA (IRS) announce in its June 2026 Form 6-K?

IRSA announced it acquired the “Los Gallegos” shopping mall in Mar del Plata by purchasing 100% of the entities that own the asset, expanding its shopping center portfolio and reinforcing its presence in Argentina’s key commercial locations.

What is the purchase price for IRSA’s acquisition of Los Gallegos mall?

The purchase price for the Los Gallegos mall is USD 13.5 million. IRSA paid USD 12.5 million at closing, while USD 1 million was retained as collateral, creating a small holdback to cover potential post-closing matters or adjustments.

What are the main characteristics of IRSA’s newly acquired Los Gallegos shopping mall?

Los Gallegos offers about 10,500 sqm of gross leasable area, with 49 retail stores, 14 stands, 2 movie theaters, a department store and 115 parking spaces. This mix combines retail and entertainment, typical of modern regional shopping centers.

Why is Mar del Plata strategically important for IRSA’s shopping mall portfolio?

Mar del Plata is described as Argentina’s leading seaside city and a major commercial hub outside Buenos Aires, with nearly 800,000 inhabitants and strong tourist flows. This demographic and tourism profile can support sustained retail activity at the Los Gallegos mall.

How does the Los Gallegos acquisition change IRSA’s shopping mall portfolio size?

After buying Los Gallegos, IRSA’s shopping mall portfolio comprises 18 assets, of which 16 are currently operated by the company. Altogether, these assets represent more than 400,000 sqm of gross leasable area, reinforcing IRSA’s scale in Argentine retail real estate.

How was the Los Gallegos transaction structured for IRSA (IRS)?

IRSA completed the transaction by acquiring 100% of the entities that own the Los Gallegos shopping mall. This structure gives IRSA full control over the asset, integrating it directly into its existing portfolio and operational platform in Argentina.