Syn Prop & Tech S A : Material Fact | Closing of Malls Transaction
June 27, 2024 at 09:17 pm
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SYN PROP & TECH S.A. (B3: SYNE3), with headquarters at Avenida Brigadeiro Faria Lima, n° 3,600, 14th floor, set 141, Itaim Bibi, in the City of São Paulo, State of São Paulo, Zip Code 04538-132 ("Company" or "SYN"), pursuant to article 157, paragraph 4th, of Brazilian Law No. 6.404/76, and CVM Resolution No. 44, dated August 24th, 2021, following the material factdisclosed by the Company on February 27th, 2024, hereby informs its shareholders, investors, and the market in general the conclusion of the transaction for the sale of its stake in 6 (six) of the Company's shopping centers to XP MALLS FUNDO DE INVESTIMENTO IMOBILIÁRIO - FII ("XP Malls") on this date. The transaction involved the sale of 51% of Grand Plaza Shopping; 32% of Shopping Cidade São Paulo; 70% of Shopping Metropolitano Barra; 52.5% of Tietê Plaza Shopping; 85% of Shopping Cerrado; and 23% of Shopping D, under the terms and conditions previously agreed ("Transaction").
The value of the Transaction for SYN's stake1 is R$ 1,850,000,000.00, with R$
941,216,916.67 received to this date. The remaining balance will be paid as follows:
Installment of R$ 358,783,000.00 in December 2024, adjusted by the CDI from this date; and
Installment of R$ 550,000,083.33 in December 2025, adjusted by the CDI from this date.
1 The total transaction amount was R$ 2,118,125,000.00, including the sale of partners' stakes.
Below is the breakdown of SYN's remaining stakes in the assets involved in the Transaction:
Asset
Remaining %SYN
Shopping Cidade São Paulo
60.00%
Shopping D
12.87%
Grand Plaza Shopping
10.41%
Shopping Metropolitano Barra
10.00%
Tietê Plaza Shopping
10.00%
Shopping Cerrado
0.00%
The Company will continue to manage the assets involved in the Transaction.
Finally, the Company reiterates its commitment to keep shareholders and the market in general informed about any other relevant matter.
São Paulo, June 27th, 2024
HECTOR BRUNO FRANCO DE CARVALHO LEITÃO
Chief Financial and Investors Relation Officer
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27 June 2024 and is solely responsible for the information contained therein. Distributed by
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SYN prop e tech SA, formerly known as Cyrela Commercial Properties SA Empreendimentos e Participacoes, is a Brazil-based company involved in the real estate sector. The Company focuses on the development, trade and management of commercial properties in Brazil. Its activities are divided into five business segments: Commercial Buildings, which consists of the sale and leasing of completed office properties; Real Estate Development, which is involved in the sale of office units under construction; Warehouses, which offers leasing of industrial warehouses; Shopping malls, which is responsible for the lease of stores in shopping malls; and Services, which provides management of shopping malls and parking lots, as well as development of properties. The Company owns a number of subsidiaries, such as Aquarius Empreendimentos e Participacoes Ltda, Millennium de Investimentos Imobiliarios Ltda and Miconia Empreendimentos Imobiliarios Ltda, among others.
SYN PROP & TECH S.A. 
