IRSA Acquires Property in Buenos Aires

IRSA Inversiones y Representaciones S.A., Argentina's leading real estate company, has acquired a property located on Av. Gaona in the neighborhood of Flores, Buenos Aires. The property, situated on an 8,856 sqm land plot, has an existing built area of approximately 17,000 sqm and potential for future expansion. The purchase price was USD 6.8 million, which has been fully paid. IRSA intends to refurbish and repurpose the property to enhance this iconic asset of Buenos Aires. As of now, the execution of the deed of transfer of ownership remains pending.