Home to a Hard Rock Cafe and a Tower Records, Colombia's bustling Atlantis mall is preparing to make some noise of its own. This magnet for Bogota's stylish set has sold assets into a Ps50.9 billion (US$17.8 million) trust structured by Santander Investment.
The deal is backed by all of the concession rights between Atlantis and its locales -which ensure a flow of rent income - and other assets such as parking fees. "There's a variety of assets," said Felipe Iragorri, assistant director at Duff & Phelps, which rated the transaction AA+' on the national scale. Apart from Hard Rock and Tower, the place features popular homegrown stores like Hot Line and Almacenes Brissa.