[{"data":1,"prerenderedAt":-1},["ShallowReactive",2],{"documento:HGBS11:5472":3,"seo:\u002Fdetalhes\u002FHGBS11\u002Fdocumentos\u002F5472":16,"fii-documento:HGBS11":96},{"id":4,"descricao":5,"assunto":6,"tipo":7,"situacao":8,"texto":9,"link_pdf":10,"estruturado":11,"link_original":12,"data_referencia":13,"data_entrega":14,"versao":15},5472,"(HGBS) Relatório Gerencial - 30\u002F01\u002F2026","Relatório Gerencial","Relatórios","(Ativo)","\u003Ch3>Hedge Brasil Shopping FII HGBS11\u003C\u002Fh3>\u003Cp>\u003Cimg alt=\"\" src=\"\u002Fstorage\u002Ffiis\u002Fdocumentos\u002F5472\u002Fpage_0_image_2.jpg\">\u003C\u002Fp>\u003Cp>Fotos: Boulevard Shopping Bauru\u003C\u002Fp>\u003Cp>JANEIRO DE 2026\u003C\u002Fp>\u003Cp>Relatório Gerencial\u003C\u002Fp>\u003Cul>\u003Cli>\u003Cstrong>SUMÁRIO NAVEGÁVEL\u003C\u002Fstrong> pág.\u003C\u002Fli>\u003Cli>OBJETIVO DO FUNDO E INFORMAÇÕES GERAIS 3\u003C\u002Fli>\u003Cli>PRINCIPAIS DESTAQUES 4\u003C\u002Fli>\u003Cli>DESEMPENHO DO FUNDO \u003Cstrong>11\u003C\u002Fstrong>\u003C\u002Fli>\u003Cli>CARTEIRA DE INVESTIMENTOS \u003Cstrong>15\u003C\u002Fstrong>\u003C\u002Fli>\u003Cli>SHOPPING JARDIM SUL \u003Cstrong>17\u003C\u002Fstrong>\u003C\u002Fli>\u003Cli>SHOPPING PENHA \u003Cstrong>19\u003C\u002Fstrong>\u003C\u002Fli>\u003Cli>CAPIM DOURADO SHOPPING \u003Cstrong>21\u003C\u002Fstrong>\u003C\u002Fli>\u003Cli>MOOCA PLAZA SHOPPING \u003Cstrong>23\u003C\u002Fstrong>\u003C\u002Fli>\u003Cli>SHOPPING WEST PLAZA \u003Cstrong>25\u003C\u002Fstrong>\u003C\u002Fli>\u003Cli>TIVOLI SHOPPING CENTER \u003Cstrong>27\u003C\u002Fstrong>\u003C\u002Fli>\u003Cli>SÃO BERNARDO PLAZA SHOPPING \u003Cstrong>29\u003C\u002Fstrong>\u003C\u002Fli>\u003Cli>BOULEVARD SHOPPING BAURU \u003Cstrong>31\u003C\u002Fstrong>\u003C\u002Fli>\u003Cli>SHOPPING VILLALOBOS \u003Cstrong>33\u003C\u002Fstrong>\u003C\u002Fli>\u003Cli>SHOPPING PRAÇA DA MOÇA \u003Cstrong>35\u003C\u002Fstrong>\u003C\u002Fli>\u003Cli>SHOPPING JARAGUÁ ARARAQUARA \u003Cstrong>37\u003C\u002Fstrong>\u003C\u002Fli>\u003Cli>SUZANO SHOPPING \u003Cstrong>39\u003C\u002Fstrong>\u003C\u002Fli>\u003Cli>PARTAGE SANTANA SHOPPING \u003Cstrong>41\u003C\u002Fstrong>\u003C\u002Fli>\u003Cli>I FASHION OUTLET \u003Cstrong>43\u003C\u002Fstrong>\u003C\u002Fli>\u003Cli>GOIABEIRAS SHOPPING CENTER \u003Cstrong>45\u003C\u002Fstrong>\u003C\u002Fli>\u003Cli>FRANCA SHOPPING \u003Cstrong>47\u003C\u002Fstrong>\u003C\u002Fli>\u003Cli>SHOPPING PARQUE D. PEDRO \u003Cstrong>49\u003C\u002Fstrong>\u003C\u002Fli>\u003Cli>FLORIPA SHOPPING \u003Cstrong>50\u003C\u002Fstrong>\u003C\u002Fli>\u003Cli>GRAND PLAZA SHOPPING \u003Cstrong>51\u003C\u002Fstrong>\u003C\u002Fli>\u003Cli>VIA PARQUE SHOPPING \u003Cstrong>52\u003C\u002Fstrong>\u003C\u002Fli>\u003Cli>GLOSSÁRIO \u003Cstrong>53\u003C\u002Fstrong>\u003C\u002Fli>\u003Cli>DOCUMENTOS \u003Cstrong>54\u003C\u002Fstrong>\u003C\u002Fli>\u003C\u002Ful>\u003Cp>\u003Cimg alt=\"\" src=\"\u002Fstorage\u002Ffiis\u002Fdocumentos\u002F5472\u002Fpage_1_image_4.jpg\">\u003C\u002Fp>\u003Cp>目 Clique no ícone no lado superior direito para retornar ao menu.\u003C\u002Fp>\u003Ch3>OBJETIVO DO FUNDO\u003C\u002Fh3>\u003Cp>O \u003Cstrong>Hedge Brasil Shopping FII\u003C\u002Fstrong> tem como objetivo auferir rendimentos pela aquisição e exploração comercial de participações em shopping centers construídos e em operação com pelo menos 15.000 m² de área bruta locável (ABL), localizados em regiões com área de influência de, no mínimo, 500 mil habitantes e administrados por empresas especializadas, atuando de forma ativa na gestão da carteira de investimentos.\u003C\u002Fp>\u003Ch3>INFORMAÇÕES GERAIS\u003C\u002Fh3>\u003Cp>COTA PATRIMONIAL\u003C\u002Fp>\u003Cp>\u003Cstrong>R$ 20,67\u003C\u002Fstrong>\u003C\u002Fp>\u003Cp>COTA DE MERCADO\u003C\u002Fp>\u003Cp>\u003Cstrong>R$ 20,00\u003C\u002Fstrong>\u003C\u002Fp>\u003Cp>VALOR DE MERCADO \u003Cstrong>R$ 2,6 bi\u003C\u002Fstrong>\u003C\u002Fp>\u003Ch3>INÍCIO DAS ATIVIDADES\u003C\u002Fh3>\u003Cp>Novembro de 2006\u003C\u002Fp>\u003Cp>\u003Cstrong>ADMINISTRADORA\u003C\u002Fstrong> Hedge Investments Distribuidora de Títulos e Valores Mobiliários Ltda.\u003C\u002Fp>\u003Ch3>GESTORA\u003C\u002Fh3>\u003Cp>Hedge Investments Real Estate Gestão de Recursos Ltda.\u003C\u002Fp>\u003Cp>\u003Cstrong>TAXA DE ADMINISTRAÇÃO (inclui Gestão)\u003C\u002Fstrong> 0,60% ao ano sobre o valor de mercado das cotas\u003C\u002Fp>\u003Cp>QUANTIDADE DE COTAS \u003Cstrong>129.133.010\u003C\u002Fstrong>\u003C\u002Fp>\u003Cp>ABL PRÓPRIA ¹ \u003Cstrong>245,9 mil m²\u003C\u002Fstrong>\u003C\u002Fp>\u003Cp>\u003Cstrong>TAXA DE PERFORMANCE\u003C\u002Fstrong> Não há\u003C\u002Fp>\u003Cp>QUANTIDADE DE COTISTAS \u003Cstrong>149.239\u003C\u002Fstrong>\u003C\u002Fp>\u003Cp>\u003Cstrong>OFERTAS CONCLUÍDAS\u003C\u002Fstrong> Dez emissões de cotas realizadas\u003C\u002Fp>\u003Cp>\u003Cstrong>CÓDIGO DE NEGOCIAÇÃO\u003C\u002Fstrong> HGBS11\u003C\u002Fp>\u003Cp>\u003Cstrong>TIPO ANBIMA\u003C\u002Fstrong> FII Renda Gestão Ativa – Shoppings\u003C\u002Fp>\u003Cp>\u003Cstrong>PRAZO\u003C\u002Fstrong> Indeterminado\u003C\u002Fp>\u003Cp>\u003Cstrong>PÚBLICO-ALVO\u003C\u002Fstrong> Investidores em geral\u003C\u002Fp>\u003Cp>\u003Cstrong>RATING\u003C\u002Fstrong> brAA+ atribuído pela S&P Global Ratings Brasil (link)\u003C\u002Fp>\u003Ch3>FAÇA PARTE DO NOSSO MAILING\u003C\u002Fh3>\u003Cp>\u003Cimg alt=\"\" src=\"\u002Fstorage\u002Ffiis\u002Fdocumentos\u002F5472\u002Fpage_2_image_28.jpg\">\u003C\u002Fp>\u003Cp>\u003Cstrong>Cadastre-se\u003C\u002Fstrong>\u003C\u002Fp>\u003Cp>Cadastre-se para receber por e-mail informações do Fundo como relatórios gerenciais, fatos relevantes e outras publicações.\u003C\u002Fp>\u003Ch3>RELAÇÃO COM INVESTIDORES\u003C\u002Fh3>\u003Cp>Para comentários, críticas e sugestões, mande e-mail para ri@hedgeinvest.com.br.\u003C\u002Fp>\u003Ch3>PRINCIPAIS DESTAQUES\u003C\u002Fh3>\u003Ch3>MOVIMENTAÇÕES ESTRATÉGICAS – QUALIFICAÇÃO DO PORTFÓLIO E GERAÇÃO DE VALOR\u003C\u002Fh3>\u003Cp>Desde o segundo semestre de 2025, o Fundo realizou 5 transações que colaboraram para o aumento da qualificação do seu portfólio, envolvendo a aquisição de 3 ativos no total de R$ 402 milhões e, venda de 2 ativos no total de R$ 114 milhões. Combinando todas as operações, temos um cap rate consolidado de 9,5%.\u003C\u002Fp>\u003Ch3>As transações foram:\u003C\u002Fh3>\u003Cp>(i) alienação de 10% do Jardim Sul em set\u002F25, reduzindo exposição ao ativo e iniciando parceria com a Ancar, administradora que é referência na indústria de shopping centers, que entrou como sócia operadora estratégica para a administração do ativo;\u003C\u002Fp>\u003Cp>(ii) aquisição de 20% do ParkShopping São Caetano em dez\u002F25, adicionando um novo trophy asset ao portfólio e iniciando parceria com a Multiplan, administradora que é referência na indústria de shopping centers;\u003C\u002Fp>\u003Cp>(iii) aquisição de 35% do Boulevard Shopping Bauru em conjunto com a alienação de 15% do Suzano Shopping em jan\u002F26, aumentando a participação em um ativo já controlado pelo Fundo, com perspectiva de crescimento elevada, e, dando saída para um ativo de menor representatividade para o Fundo, em uma troca que apresentou um cap rate de aquisição 1,15 p.p. superior ao cap rate de venda;\u003C\u002Fp>\u003Cp>(iv) aumento de participação indireta no Shopping Parque Dom Pedro, a partir da aquisição de 701.828 novas cotas de HPDP11 e 6.707 novas cotas de PQDP11, até janeiro de 2026, aproveitando a oportunidade de aumentar participação em um trophy asset único com condições muito atrativas, possibilitada pelo exercício do direito de preferência na aquisição do Parque Dom Pedro a um valor 14,5% inferior ao último laudo de avaliação do ativo, elaborado em dezembro de 2025.\u003C\u002Fp>\u003Ctable>\u003Cthead>\u003Ctr>\u003Cth>\u003C\u002Fth>\u003Cth>Shopping Jardim Sul\u003C\u002Fth>\u003Cth>ParkShopping São Caetano\u003C\u002Fth>\u003Cth>Boulevard Shopping Bauru\u003C\u002Fth>\u003Cth>Suzano Shopping\u003C\u002Fth>\u003Cth>Parque D. Pedro¹\u003C\u002Fth>\u003C\u002Ftr>\u003C\u002Fthead>\u003Ctbody>\u003Ctr>\u003Ctd>Data\u003C\u002Ftd>\u003Ctd>Set\u002F25\u003C\u002Ftd>\u003Ctd>Dez\u002F25\u003C\u002Ftd>\u003Ctd>Jan\u002F26\u003C\u002Ftd>\u003Ctd>Jan\u002F26\u003C\u002Ftd>\u003Ctd>Dez\u002F25 e Jan\u002F26\u003C\u002Ftd>\u003C\u002Ftr>\u003Ctr>\u003Ctd>Transação\u003C\u002Ftd>\u003Ctd>Venda\u003C\u002Ftd>\u003Ctd>Aquisição\u003C\u002Ftd>\u003Ctd>Aquisição\u003C\u002Ftd>\u003Ctd>Venda\u003C\u002Ftd>\u003Ctd>Aquisição\u003C\u002Ftd>\u003C\u002Ftr>\u003Ctr>\u003Ctd>Participação\u003C\u002Ftd>\u003Ctd>10%\u003C\u002Ftd>\u003Ctd>20%\u003C\u002Ftd>\u003Ctd>35%\u003C\u002Ftd>\u003Ctd>15%\u003C\u002Ftd>\u003Ctd>2,9%\u003C\u002Ftd>\u003C\u002Ftr>\u003Ctr>\u003Ctd>Volume\u003C\u002Ftd>\u003Ctd>R$ 63 milhões\u003C\u002Ftd>\u003Ctd>R$ 237 milhões\u003C\u002Ftd>\u003Ctd>R$ 91 milhões\u003C\u002Ftd>\u003Ctd>R$ 51 milhões\u003C\u002Ftd>\u003Ctd>R$ 74 milhões¹\u003C\u002Ftd>\u003C\u002Ftr>\u003Ctr>\u003Ctd>Cap Rate\u003C\u002Ftd>\u003Ctd>8,25%\u003C\u002Ftd>\u003Ctd>8,65%²\u003C\u002Ftd>\u003Ctd>10,25%\u003C\u002Ftd>\u003Ctd>9,10%\u003C\u002Ftd>\u003Ctd>9,60%\u003C\u002Ftd>\u003C\u002Ftr>\u003C\u002Ftbody>\u003C\u002Ftable>\u003Cp>Fonte: Hedge. ¹ aquisição indireta através de cotas de HPDP11 e PQDP11. ² Cap rate a VPL.\u003C\u002Fp>\u003Cp>Destacamos que, a gestora segue avaliando a performance dos ativos, bem como eventuais movimentos na reciclagem de portfólio para aumentar a rentabilidade da carteira que podem gerar ganhos não recorrentes, que serão distribuídos aos cotistas, respeitando a regulamentação vigente.\u003C\u002Fp>\u003Ch3>EVOLUÇÃO DO PORTFÓLIO\u003C\u002Fh3>\u003Cp>Com as transações, o Fundo pôde aumentar a qualificação do portfólio em condições atrativas, com expectativa de rentabilidade superior ao retorno atual apresentado pela carteira do Fundo. Ao mesmo tempo, foi mantido o foco na exposição ao estado de São Paulo, em cidades com bons indicadores demográficos, com aquisições envolvendo ativos que possuem representatividade elevada na nova carteira do HGBS.\u003C\u002Fp>\u003Cp>\u003Cimg alt=\"\" src=\"\u002Fstorage\u002Ffiis\u002Fdocumentos\u002F5472\u002Fpage_4_chart_5.jpg\">\u003C\u002Fp>\u003Ch3>11ª EMISSÃO DE COTAS DO HEDGE BRASIL SHOPPING FII\u003C\u002Fh3>\u003Cp>Em 7 de janeiro de 2026, a Hedge DTVM, na qualidade de instituição administradora do Hedge Brasil Shopping, comunicou via Fato Relevante que foi celebrado o Instrumento Particular de Aprovação dos Termos e Condições da Distribuição Pública Primária de Cotas da 11ª Emissão do Hedge Brasil Shopping Fundo de Investimento Imobiliário. O montante total da Oferta é inicialmente estimado em até R$ 664.671.251,76, considerando os custos de emissão, podendo ser aumentado em até 15,68% pelo Lote Adicional. O preço de emissão é de R$ 20,84 \u002F cota, equivalente ao valor patrimonial de novembro de 2025 somado ao Custo Unitário de Distribuição de 2,25%.\u003C\u002Fp>\u003Cp>Maiores detalhes serão divulgados a mercado em momento oportuno através dos Documentos da Oferta.\u003C\u002Fp>\u003Ch3>COMUNICADO AO MERCADO – PUBLICAÇÃO DOS LAUDOS DE AVALIAÇÃO\u003C\u002Fh3>\u003Cp>Destacamos que os laudos de avaliação dos ativos em que o Fundo detém participação direta na data base de novembro de 2025, utilizados para a marcação a valor justo do patrimônio do Fundo, foram disponibilizados na página do fundo. A divulgação do laudo visa proporcionar maior grau de informação aos investidores, reforçando o compromisso da Hedge com a transparência.\u003C\u002Fp>\u003Ch3>CENSO BRASILEIRO DE SHOPPING CENTERS 2025\u002F2026 (ABRASCE)\u003C\u002Fh3>\u003Cp>Trazemos nesta edição o faturamento por metro quadrado do setor divulgado no Censo Brasileiro de Shopping Centers, publicação anual da Abrasce, comparado com o indicador de vendas por metro quadrado do Fundo. Para esta análise, será levado em conta o portfólio atual do Fundo, ou seja, como se o HGBS já detivesse a atual carteira de shoppings nos anos anteriores.\u003C\u002Fp>\u003Cp>Segundo o estudo, em 2025, o setor de shopping centers no Brasil apresentou faturamento de R$ 200,9 bilhões, um crescimento, em termos nominais, de 1,3% vs. 2024. Levando-se em conta o faturamento por m², em 2025 o setor apresentou crescimento, em termos nominais, de 0,4% quando comparado ao valor apresentado em 2024. Já as vendas por m² do HGBS apresentaram crescimento de 6,7% vs. 2024.\u003C\u002Fp>\u003Cp>Faturamento \u002F m² ABRASCE\u003C\u002Fp>\u003Cp>\u003Cimg alt=\"\" src=\"\u002Fstorage\u002Ffiis\u002Fdocumentos\u002F5472\u002Fpage_5_chart_7.jpg\">\u003C\u002Fp>\u003Cp>Fonte: Censo Abrasce 2025\u002F2026, Hedge.\u003C\u002Fp>\u003Cp>Vendas \u002F m² HGBS\u003C\u002Fp>\u003Cp>\u003Cimg alt=\"\" src=\"\u002Fstorage\u002Ffiis\u002Fdocumentos\u002F5472\u002Fpage_5_chart_10.jpg\">\u003C\u002Fp>\u003Ch3>MERCADO DE SHOPPING CENTERS - MONITORAMENTO MENSAL (ABRASCE)\u003C\u002Fh3>\u003Cp>Segundo dados da Associação Brasileira de Shopping Centers (Abrasce), em dezembro, o mercado de shoppings brasileiro apresentou retração de 0,8% nas vendas quando comparado ao mesmo mês de 2024, em termos nominais. Já em termos reais, ou seja, levando-se em consideração a inflação no período, houve uma retração de 4,8%. Considerando o acumulado de 2025, tivemos um crescimento nominal de vendas de 1,3% vs. o mesmo período de 2024. Abaixo, trazemos as variações do faturamento do setor comparado com os anos anteriores, em termos reais e nominais.\u003C\u002Fp>\u003Cp>Variação das vendas do setor vs. ano anterior\u003C\u002Fp>\u003Cp>\u003Cimg alt=\"\" src=\"\u002Fstorage\u002Ffiis\u002Fdocumentos\u002F5472\u002Fpage_5_chart_14.jpg\">\u003C\u002Fp>\u003Cp>Abaixo, atualizamos a vacância do setor, com o indicador também segregado pelas regiões do país.\u003C\u002Fp>\u003Ctable>\u003Cthead>\u003Ctr>\u003Cth>Vacância (Mediana)\u003C\u002Fth>\u003Cth>Brasil\u003C\u002Fth>\u003Cth>Norte\u002FNordeste\u003C\u002Fth>\u003Cth>Centro-Oeste\u003C\u002Fth>\u003Cth>Sudeste\u003C\u002Fth>\u003Cth>Sul\u003C\u002Fth>\u003C\u002Ftr>\u003C\u002Fthead>\u003Ctbody>\u003Ctr>\u003Ctd>dez\u002F25\u003C\u002Ftd>\u003Ctd>3,9%\u003C\u002Ftd>\u003Ctd>5,3%\u003C\u002Ftd>\u003Ctd>3,3%\u003C\u002Ftd>\u003Ctd>3,6%\u003C\u002Ftd>\u003Ctd>2,2%\u003C\u002Ftd>\u003C\u002Ftr>\u003Ctr>\u003Ctd>nov\u002F25\u003C\u002Ftd>\u003Ctd>4,3%\u003C\u002Ftd>\u003Ctd>5,3%\u003C\u002Ftd>\u003Ctd>3,6%\u003C\u002Ftd>\u003Ctd>3,7%\u003C\u002Ftd>\u003Ctd>4,4%\u003C\u002Ftd>\u003C\u002Ftr>\u003C\u002Ftbody>\u003C\u002Ftable>\u003Cp>Vacância mediana no Brasil\u003C\u002Fp>\u003Cp>\u002F>\u003C\u002Fp>\u003Cp>Fonte: Abrasce, Hedge.\u003C\u002Fp>\u003Ch3>INDICADORES OPERACIONAIS\u003C\u002Fh3>\u003Cp>Trazemos abaixo os principais destaques do portfólio no mês de dezembro considerando o portfólio atual do Fundo. Ou seja, considera que o Fundo já possuía a atual carteira no ano anterior. Destacamos que, as movimentações recentes no portfólio, incluindo as aquisições de 20% do ParkShopping São Caetano e 35% do Boulevard Shopping Bauru, além da venda de 15% do Suzano Shopping, somente serão refletidas nos indicadores operacionais de janeiro de 2026, ou seja, a partir do relatório gerencial de fevereiro de 2026.\u003C\u002Fp>\u003Cp>\u003Cstrong>VENDAS\u002FM²:\u003C\u002Fstrong> O portfólio do Fundo apresentou vendas\u002Fm² de R$ 2.093 em dezembro, o que representa um crescimento de 2,6% vs. dezembro de 2024. Levando em consideração o ano de 2025, as vendas apresentaram crescimento de 6,7% em comparação a 2024.\u003C\u002Fp>\u003Cp>\u003Cstrong>VACÂNCIA:\u003C\u002Fstrong> O Fundo encerrou dezembro com 4,6% da ABL vaga vs. 4,6% em novembro e 4,9% em dez\u002F24.\u003C\u002Fp>\u003Cp>\u003Cstrong>NOI\u002FM²:\u003C\u002Fstrong> Em dezembro, o NOI\u002Fm² do Fundo foi de R$ 108,4\u002Fm², um crescimento de 10,4% vs. dezembro de 2024. No ano de 2025, o indicador apresentou crescimento de 8,6% em comparação a 2024. Destacamos que a performance positiva em dezembro\u002F25 foi puxada por receitas de estacionamento e receitas comerciais.\u003C\u002Fp>\u003Cp>\u003Cstrong>Para maiores detalhes, recomendamos a análise da Planilha de Fundamentos, disponível na\u003C\u002Fstrong> \u003Cstrong>página\u003C\u002Fstrong> \u003Cstrong>do Fundo.\u003C\u002Fstrong>\u003C\u002Fp>\u003Ctable>\u003Ctbody>\u003Ctr>\u003Ctd colspan=\"3\">Dezembro - 2025\u003C\u002Ftd>\u003Ctd colspan=\"5\">VENDAS (100%)\u003C\u002Ftd>\u003Ctd colspan=\"3\">NOI (100%)\u003C\u002Ftd>\u003C\u002Ftr>\u003Ctr>\u003Ctd>Portfólio¹\u003C\u002Ftd>\u003Ctd>% da Carteira\u003C\u002Ftd>\u003Ctd>Part.\u003C\u002Ftd>\u003Ctd>ABL(100%)\u003C\u002Ftd>\u003Ctd>Vacância\u003C\u002Ftd>\u003Ctd>R$\u002Fm²\u003C\u002Ftd>\u003Ctd>R$\u002Fm² vs. dez\u002F24\u003C\u002Ftd>\u003Ctd>YTD vs.2024\u003C\u002Ftd>\u003Ctd>R$\u002Fm²\u003C\u002Ftd>\u003Ctd>R$\u002Fm² vs. dez\u002F24\u003C\u002Ftd>\u003Ctd>YTD vs.2024\u003C\u002Ftd>\u003C\u002Ftr>\u003Ctr>\u003Ctd>Jardim Sul\u003C\u002Ftd>\u003Ctd>15%\u003C\u002Ftd>\u003Ctd>80,0%\u003C\u002Ftd>\u003Ctd>28.710\u003C\u002Ftd>\u003Ctd>2,2%\u003C\u002Ftd>\u003Ctd>3.412\u003C\u002Ftd>\u003Ctd>-0,3%\u003C\u002Ftd>\u003Ctd>4,0%\u003C\u002Ftd>\u003Ctd>173,0\u003C\u002Ftd>\u003Ctd>8,7%\u003C\u002Ftd>\u003Ctd>4,5%\u003C\u002Ftd>\u003C\u002Ftr>\u003Ctr>\u003Ctd>Penha\u003C\u002Ftd>\u003Ctd>10%\u003C\u002Ftd>\u003Ctd>87,6%\u003C\u002Ftd>\u003Ctd>29.779\u003C\u002Ftd>\u003Ctd>3,8%\u003C\u002Ftd>\u003Ctd>2.564\u003C\u002Ftd>\u003Ctd>2,2%\u003C\u002Ftd>\u003Ctd>4,8%\u003C\u002Ftd>\u003Ctd>127,9\u003C\u002Ftd>\u003Ctd>31,4%\u003C\u002Ftd>\u003Ctd>15,5%\u003C\u002Ftd>\u003C\u002Ftr>\u003Ctr>\u003Ctd>Pq D. Pedro²\u003C\u002Ftd>\u003Ctd>8%\u003C\u002Ftd>\u003Ctd>7,7%\u003C\u002Ftd>\u003Ctd>126.267\u003C\u002Ftd>\u003Ctd>0,7%\u003C\u002Ftd>\u003Ctd>2.354\u003C\u002Ftd>\u003Ctd>3,3%\u003C\u002Ftd>\u003Ctd>5,0%\u003C\u002Ftd>\u003Ctd>188,6\u003C\u002Ftd>\u003Ctd>19,1%\u003C\u002Ftd>\u003Ctd>9,7%\u003C\u002Ftd>\u003C\u002Ftr>\u003Ctr>\u003Ctd>Capim Dourado\u003C\u002Ftd>\u003Ctd>7%\u003C\u002Ftd>\u003Ctd>60,0%\u003C\u002Ftd>\u003Ctd>38.731\u003C\u002Ftd>\u003Ctd>4,4%\u003C\u002Ftd>\u003Ctd>1.844\u003C\u002Ftd>\u003Ctd>1,3%\u003C\u002Ftd>\u003Ctd>3,0%\u003C\u002Ftd>\u003Ctd>100,7\u003C\u002Ftd>\u003Ctd>11,1%\u003C\u002Ftd>\u003Ctd>12,3%\u003C\u002Ftd>\u003C\u002Ftr>\u003Ctr>\u003Ctd>Mooca\u003C\u002Ftd>\u003Ctd>7%\u003C\u002Ftd>\u003Ctd>20,0%\u003C\u002Ftd>\u003Ctd>42.067\u003C\u002Ftd>\u003Ctd>0,1%\u003C\u002Ftd>\u003Ctd>4.002\u003C\u002Ftd>\u003Ctd>5,7%\u003C\u002Ftd>\u003Ctd>8,1%\u003C\u002Ftd>\u003Ctd>203,2\u003C\u002Ftd>\u003Ctd>14,0%\u003C\u002Ftd>\u003Ctd>6,4%\u003C\u002Ftd>\u003C\u002Ftr>\u003Ctr>\u003Ctd>West Plaza²\u003C\u002Ftd>\u003Ctd>6%\u003C\u002Ftd>\u003Ctd>89,9%\u003C\u002Ftd>\u003Ctd>35.059\u003C\u002Ftd>\u003Ctd>8,7%\u003C\u002Ftd>\u003Ctd>1.110\u003C\u002Ftd>\u003Ctd>7,4%\u003C\u002Ftd>\u003Ctd>9,6%\u003C\u002Ftd>\u003Ctd>53,4\u003C\u002Ftd>\u003Ctd>-3,8%\u003C\u002Ftd>\u003Ctd>3,7%\u003C\u002Ftd>\u003C\u002Ftr>\u003Ctr>\u003Ctd>Tivoli\u003C\u002Ftd>\u003Ctd>6%\u003C\u002Ftd>\u003Ctd>59,0%\u003C\u002Ftd>\u003Ctd>25.779\u003C\u002Ftd>\u003Ctd>0,9%\u003C\u002Ftd>\u003Ctd>2.286\u003C\u002Ftd>\u003Ctd>-0,3%\u003C\u002Ftd>\u003Ctd>3,8%\u003C\u002Ftd>\u003Ctd>104,1\u003C\u002Ftd>\u003Ctd>-6,1%\u003C\u002Ftd>\u003Ctd>2,4%\u003C\u002Ftd>\u003C\u002Ftr>\u003Ctr>\u003Ctd>Bauru\u003C\u002Ftd>\u003Ctd>6%\u003C\u002Ftd>\u003Ctd>65,0%\u003C\u002Ftd>\u003Ctd>34.550\u003C\u002Ftd>\u003Ctd>2,8%\u003C\u002Ftd>\u003Ctd>1.821\u003C\u002Ftd>\u003Ctd>8,4%\u003C\u002Ftd>\u003Ctd>13,5%\u003C\u002Ftd>\u003Ctd>95,6\u003C\u002Ftd>\u003Ctd>21,6%\u003C\u002Ftd>\u003Ctd>14,9%\u003C\u002Ftd>\u003C\u002Ftr>\u003Ctr>\u003Ctd>São Bernardo\u003C\u002Ftd>\u003Ctd>5%\u003C\u002Ftd>\u003Ctd>35,0%\u003C\u002Ftd>\u003Ctd>42.954\u003C\u002Ftd>\u003Ctd>3,9%\u003C\u002Ftd>\u003Ctd>1.932\u003C\u002Ftd>\u003Ctd>-1,0%\u003C\u002Ftd>\u003Ctd>3,0%\u003C\u002Ftd>\u003Ctd>107,3\u003C\u002Ftd>\u003Ctd>2,2%\u003C\u002Ftd>\u003Ctd>-0,7%\u003C\u002Ftd>\u003C\u002Ftr>\u003Ctr>\u003Ctd>Villa Lobos\u003C\u002Ftd>\u003Ctd>4%\u003C\u002Ftd>\u003Ctd>15,0%\u003C\u002Ftd>\u003Ctd>28.394\u003C\u002Ftd>\u003Ctd>3,1%\u003C\u002Ftd>\u003Ctd>4.513\u003C\u002Ftd>\u003Ctd>4,0%\u003C\u002Ftd>\u003Ctd>5,9%\u003C\u002Ftd>\u003Ctd>273,0\u003C\u002Ftd>\u003Ctd>7,4%\u003C\u002Ftd>\u003Ctd>3,8%\u003C\u002Ftd>\u003C\u002Ftr>\u003Ctr>\u003Ctd>Floripa²\u003C\u002Ftd>\u003Ctd>4%\u003C\u002Ftd>\u003Ctd>25,7%\u003C\u002Ftd>\u003Ctd>50.469\u003C\u002Ftd>\u003Ctd>1,7%\u003C\u002Ftd>\u003Ctd>1.869\u003Csup>4\u003C\u002Fsup>\u003C\u002Ftd>\u003Ctd>-1,4%\u003C\u002Ftd>\u003Ctd>24,9%\u003C\u002Ftd>\u003Ctd>105,4\u003C\u002Ftd>\u003Ctd>28,6%\u003C\u002Ftd>\u003Ctd>16,1%\u003C\u002Ftd>\u003C\u002Ftr>\u003Ctr>\u003Ctd>Pr. da Moça\u003C\u002Ftd>\u003Ctd>3%\u003C\u002Ftd>\u003Ctd>23,1%\u003C\u002Ftd>\u003Ctd>31.368\u003C\u002Ftd>\u003Ctd>1,4%\u003C\u002Ftd>\u003Ctd>2.219\u003C\u002Ftd>\u003Ctd>-1,2%\u003C\u002Ftd>\u003Ctd>1,5%\u003C\u002Ftd>\u003Ctd>111,4\u003C\u002Ftd>\u003Ctd>-3,6%\u003C\u002Ftd>\u003Ctd>2,6%\u003C\u002Ftd>\u003C\u002Ftr>\u003Ctr>\u003Ctd>Araraquara\u003C\u002Ftd>\u003Ctd>2%\u003C\u002Ftd>\u003Ctd>25,0%\u003C\u002Ftd>\u003Ctd>21.099\u003C\u002Ftd>\u003Ctd>4,5%\u003C\u002Ftd>\u003Ctd>2.238\u003C\u002Ftd>\u003Ctd>5,4%\u003C\u002Ftd>\u003Ctd>14,4%\u003C\u002Ftd>\u003Ctd>107,9\u003C\u002Ftd>\u003Ctd>24,7%\u003C\u002Ftd>\u003Ctd>21,5%\u003C\u002Ftd>\u003C\u002Ftr>\u003Ctr>\u003Ctd>Suzano\u003C\u002Ftd>\u003Ctd>2%\u003C\u002Ftd>\u003Ctd>15,0%\u003C\u002Ftd>\u003Ctd>25.055\u003C\u002Ftd>\u003Ctd>2,2%\u003C\u002Ftd>\u003Ctd>2.383\u003C\u002Ftd>\u003Ctd>10,2%\u003C\u002Ftd>\u003Ctd>7,9%\u003C\u002Ftd>\u003Ctd>162,9\u003C\u002Ftd>\u003Ctd>40,2%\u003C\u002Ftd>\u003Ctd>4,4%\u003C\u002Ftd>\u003C\u002Ftr>\u003Ctr>\u003Ctd>Santana\u003C\u002Ftd>\u003Ctd>2%\u003C\u002Ftd>\u003Ctd>15,0%\u003C\u002Ftd>\u003Ctd>25.884\u003C\u002Ftd>\u003Ctd>5,8%\u003C\u002Ftd>\u003Ctd>2.204\u003C\u002Ftd>\u003Ctd>1,7%\u003C\u002Ftd>\u003Ctd>3,1%\u003C\u002Ftd>\u003Ctd>116,6\u003C\u002Ftd>\u003Ctd>4,4%\u003C\u002Ftd>\u003Ctd>20,4%\u003C\u002Ftd>\u003C\u002Ftr>\u003Ctr>\u003Ctd>IFONH\u003C\u002Ftd>\u003Ctd>2%\u003C\u002Ftd>\u003Ctd>18,4%\u003C\u002Ftd>\u003Ctd>20.047\u003C\u002Ftd>\u003Ctd>2,2%\u003C\u002Ftd>\u003Ctd>2.449\u003C\u002Ftd>\u003Ctd>-2,4%\u003C\u002Ftd>\u003Ctd>9,1%\u003C\u002Ftd>\u003Ctd>152,7\u003C\u002Ftd>\u003Ctd>25,7%\u003C\u002Ftd>\u003Ctd>22,4%\u003C\u002Ftd>\u003C\u002Ftr>\u003Ctr>\u003Ctd>Via Parque²\u003C\u002Ftd>\u003Ctd>1%\u003C\u002Ftd>\u003Ctd>12,4%\u003C\u002Ftd>\u003Ctd>56.485\u003C\u002Ftd>\u003Ctd>10,4%\u003C\u002Ftd>\u003Ctd>592\u003C\u002Ftd>\u003Ctd>2,7%\u003C\u002Ftd>\u003Ctd>6,0%\u003C\u002Ftd>\u003Ctd>-39,5\u003C\u002Ftd>\u003Ctd>-223,6%\u003C\u002Ftd>\u003Ctd>19,8%\u003C\u002Ftd>\u003C\u002Ftr>\u003Ctr>\u003Ctd>Goiabeiras\u003C\u002Ftd>\u003Ctd>0,5%\u003C\u002Ftd>\u003Ctd>54,0%\u003C\u002Ftd>\u003Ctd>25.831\u003C\u002Ftd>\u003Ctd>17,3%\u003C\u002Ftd>\u003Ctd>569\u003C\u002Ftd>\u003Ctd>0,9%\u003C\u002Ftd>\u003Ctd>5,9%\u003C\u002Ftd>\u003Ctd>12,6\u003C\u002Ftd>\u003Ctd>na\u003C\u002Ftd>\u003Ctd>na\u003C\u002Ftd>\u003C\u002Ftr>\u003Ctr>\u003Ctd>Franca\u003C\u002Ftd>\u003Ctd>0,03%\u003C\u002Ftd>\u003Ctd>0,4%\u003C\u002Ftd>\u003Ctd>18.955\u003C\u002Ftd>\u003Ctd>0,2%\u003C\u002Ftd>\u003Ctd>2.883\u003C\u002Ftd>\u003Ctd>16,9%\u003C\u002Ftd>\u003Ctd>17,6%\u003C\u002Ftd>\u003Ctd>187,0\u003C\u002Ftd>\u003Ctd>41,4%\u003C\u002Ftd>\u003Ctd>16,6%\u003C\u002Ftd>\u003C\u002Ftr>\u003Ctr>\u003Ctd>HGBS¹ ³\u003C\u002Ftd>\u003Ctd>-\u003C\u002Ftd>\u003Ctd>-\u003C\u002Ftd>\u003Ctd>236.688\u003C\u002Ftd>\u003Ctd>4,6%\u003C\u002Ftd>\u003Ctd>2.093\u003C\u002Ftd>\u003Ctd>2,6%\u003C\u002Ftd>\u003Ctd>6,7%\u003C\u002Ftd>\u003Ctd>108,4\u003C\u002Ftd>\u003Ctd>10,4%\u003C\u002Ftd>\u003Ctd>8,6%\u003C\u002Ftd>\u003C\u002Ftr>\u003C\u002Ftbody>\u003C\u002Ftable>\u003Cp>1 Não considera Grand Plaza visto que não temos acesso aos números.\u003C\u002Fp>\u003Cp>2 Participação no West Plaza via imóvel e WPLZ11, no Parque D. Pedro via HPDP11, no Floripa via FLRP11 e no Via Parque via FVPQ11.\u003C\u002Fp>\u003Cp>3 Indicadores próprios, considerando a participação atual do Fundo em cada ativo.\u003C\u002Fp>\u003Cp>4 Não considera ABL de lajes corporativas.\u003C\u002Fp>\u003Cp>Fonte: Hedge, Administradoras.\u003C\u002Fp>\u003Ch3>INDICADORES OPERACIONAIS – HISTÓRICO\u003C\u002Fh3>\u003Cp>Para maiores detalhes, recomendamos a análise da Planilha de Fundamentos, disponível na página do Fundo. Trazemos abaixo o histórico desde 2022 dos indicadores operacionais considerando o portfólio atual do Fundo. Ou seja, considera que o Fundo já possuía a atual carteira nos anos anteriores.\u003C\u002Fp>\u003Cp>VENDAS TOTAIS \u002F M² (R$\u002Fm² acumulado)\u003C\u002Fp>\u003Cp>\u003Cimg alt=\"\" src=\"\u002Fstorage\u002Ffiis\u002Fdocumentos\u002F5472\u002Fpage_7_image_6.jpg\">\u003C\u002Fp>\u003Cp>EVOLUÇÃO DO NOI\u002FM² (R$\u002Fm² acumulado, sob regime de caixa)\u003C\u002Fp>\u003Cp>\u003Cimg alt=\"\" src=\"\u002Fstorage\u002Ffiis\u002Fdocumentos\u002F5472\u002Fpage_7_image_8.jpg\">\u003C\u002Fp>\u003Cp>VACÂNCIA (% da ABL própria vaga ao fim de cada ano)\u003C\u002Fp>\u003Cp>\u003Cimg alt=\"\" src=\"\u002Fstorage\u002Ffiis\u002Fdocumentos\u002F5472\u002Fpage_7_chart_10.jpg\">\u003C\u002Fp>\u003Cp>Fonte: Hedge, Administradores\u003C\u002Fp>\u003Ch3>INDICADORES TRIMESTRAIS\u003C\u002Fh3>\u003Ch3>VENDAS \u002F M²\u003C\u002Fh3>\u003Cp>O Fundo apresentou vendas de R$ 4.795 \u002F m² no 4º trimestre de 2025, o que representa um crescimento de 3,7% em relação ao 4º trimestre de 2024. É possível identificar uma desaceleração das vendas no 2º semestre de 2025, que se intensificou no 4º trimestre, impactada por uma performance mais fraca das vendas nas datas da Black Friday e Natal.\u003C\u002Fp>\u003Cp>Ainda assim, temos um crescimento sólido de 6,7% no ano de 2025, em comparação a 2024. Os ativos de maior destaque no portfólio considerando o ano de 2025 são: Floripa (+25% vs 2024), Franca (+18% vs 2024), Araraquara (+14% vs YTD\u002F24) e Bauru (+14% vs YTD\u002F24).\u003C\u002Fp>\u003Cp>\u003Cimg alt=\"\" src=\"\u002Fstorage\u002Ffiis\u002Fdocumentos\u002F5472\u002Fpage_8_image_7.jpg\">\u003C\u002Fp>\u003Cp>Vale destacar também que todos os ativos do portfólio apresentaram uma performance de vendas superior ao setor de shopping centers em 2025, quando comparados ao ano de 2024, conforme comparação com a performance do faturamento do setor divulgada pela Abrasce.\u003C\u002Fp>\u003Cp>\u003Cimg alt=\"\" src=\"\u002Fstorage\u002Ffiis\u002Fdocumentos\u002F5472\u002Fpage_8_chart_9.jpg\">\u003C\u002Fp>\u003Ch3>NOI \u002F M²\u003C\u002Fh3>\u003Cp>O NOI\u002Fm² do Fundo ficou em R$ 281,39 \u002F m² no 4º trimestre de 2025, um crescimento de 12,6% em relação ao mesmo período de 2024. No 4º trimestre, tivemos o melhor desempenho do NOI no ano, impulsionado por fatores como recuperações de inadimplência, receitas comerciais e boa performance da receita de estacionamento dos shoppings.\u003C\u002Fp>\u003Cp>\u003Cimg alt=\"\" src=\"\u002Fstorage\u002Ffiis\u002Fdocumentos\u002F5472\u002Fpage_8_image_12.jpg\">\u003C\u002Fp>\u003Ch3>VACÂNCIA\u003C\u002Fh3>\u003Cp>Ao longo de 2025 o Fundo manteve uma vacância próxima a 5,0% da ABL vaga, sem grandes flutuações ao longo dos meses, fechando o ano com 4,6%, a menor vacância do portfólio atual desde o final de 2019. Vale destacar que este nível é considerado saudável para a indústria, e em alguns ativos é até mesmo considerada como “vacância estratégica”, possibilitando que a gestão do shopping tenha ABL disponível para trazer novas operações que agreguem para a qualificação do mix de lojistas do shopping.\u003C\u002Fp>\u003Cp>\u003Cimg alt=\"\" src=\"\u002Fstorage\u002Ffiis\u002Fdocumentos\u002F5472\u002Fpage_9_chart_5.jpg\">\u003C\u002Fp>\u003Ch3>INDICADORES COMERCIAIS\u003C\u002Fh3>\u003Ch3>CUSTO DE OCUPAÇÃO (% DAS VENDAS)\u003C\u002Fh3>\u003Cp>No último trimestre de 2025, o custo de ocupação médio do portfólio atingiu 8,9%, apresentando uma elevação de 0,2 pontos percentuais em comparação ao mesmo período de 2024. Esse aumento decorre do crescimento mais moderado das vendas combinado com a elevação dos custos operacionais, incluindo despesas condominiais e locatícias.\u003C\u002Fp>\u003Cp>Apesar disso, o indicador mantém-se em patamar satisfatório, ficando abaixo dos níveis observados no 4º trimestre de 2021 (9,3%) e 2022 (9,4%), e equivalente ao registrado em 2023 (8,9%).\u003C\u002Fp>\u003Cp>+0,2 p.p.\u003C\u002Fp>\u003Cp>\u003Cimg alt=\"\" src=\"\u002Fstorage\u002Ffiis\u002Fdocumentos\u002F5472\u002Fpage_9_chart_11.jpg\">\u003C\u002Fp>\u003Ch3>VENDAS NAS MESMAS LOJAS (SSS)\u003C\u002Fh3>\u003Cp>No 4º trimestre de 2025, o portfólio do HGBS registrou SSS de +1,9% em relação ao mesmo período de 2024. O principal destaque foi o segmento de Conveniências e Serviços, impulsionado por Farmácias (+19,1%), que têm participação relevante nas vendas do grupo. Em Alimentação, mantiveram bom desempenho as categorias Café & Lanches (+5,9%) e Fast Food (+5,6%).\u003C\u002Fp>\u003Cp>Em Roupas e Calçados, o crescimento foi de +0,7%, o resultado positivo veio principalmente das lojas de Esportes (+13,4%), mas foi parcialmente neutralizado pelo desempenho de Lojas de Departamento (-0,4%), que têm maior representatividade dentro do segmento. Já em Outros, a variação foi de +0,1%, em que Telefonia (+12,2%) apresentou forte avanço, porém a queda expressiva de Cinema, teatro e show (-25,9%), a maior queda do portfólio, limitou o resultado consolidado do grupo.\u003C\u002Fp>\u003Cp>Entre os ativos, o destaque do trimestre foi o Franca (+12,4%), seguido por Villa Lobos (+5,2%), Bauru (+5,2%) e Mooca (+5,1%). No ano, esses quatro ativos ficaram entre os cinco maiores SSS do portfólio, atrás apenas do Floripa (+23,7%), beneficiado pelo impacto do turismo no início de 2025.\u003C\u002Fp>\u003Ctable>\u003Cthead>\u003Ctr>\u003Cth>SSS por segmento (vs. mesmo período de 2024)\u003C\u002Fth>\u003Cth>1º Tri 25\u003C\u002Fth>\u003Cth>2º Tri 25\u003C\u002Fth>\u003Cth>3º Tri 25\u003C\u002Fth>\u003Cth>4º Tri 25\u003C\u002Fth>\u003Cth>2025\u003C\u002Fth>\u003C\u002Ftr>\u003C\u002Fthead>\u003Ctbody>\u003Ctr>\u003Ctd>Roupas e Calçados\u003C\u002Ftd>\u003Ctd>10,4%\u003C\u002Ftd>\u003Ctd>13,1%\u003C\u002Ftd>\u003Ctd>1,5%\u003C\u002Ftd>\u003Ctd>0,7%\u003C\u002Ftd>\u003Ctd>5,7%\u003C\u002Ftd>\u003C\u002Ftr>\u003Ctr>\u003Ctd>Alimentação\u003C\u002Ftd>\u003Ctd>-3,1%\u003C\u002Ftd>\u003Ctd>12%\u003C\u002Ftd>\u003Ctd>5,0%\u003C\u002Ftd>\u003Ctd>4,1%\u003C\u002Ftd>\u003Ctd>4,5%\u003C\u002Ftd>\u003C\u002Ftr>\u003Ctr>\u003Ctd>Conveniência & Serviços\u003C\u002Ftd>\u003Ctd>5,3%\u003C\u002Ftd>\u003Ctd>7,8%\u003C\u002Ftd>\u003Ctd>6,2%\u003C\u002Ftd>\u003Ctd>6,7%\u003C\u002Ftd>\u003Ctd>6,6%\u003C\u002Ftd>\u003C\u002Ftr>\u003Ctr>\u003Ctd>Artigos do Lar\u003C\u002Ftd>\u003Ctd>10,8%\u003C\u002Ftd>\u003Ctd>9,4%\u003C\u002Ftd>\u003Ctd>1,8%\u003C\u002Ftd>\u003Ctd>-0,6%\u003C\u002Ftd>\u003Ctd>5,0%\u003C\u002Ftd>\u003C\u002Ftr>\u003Ctr>\u003Ctd>Outros\u003C\u002Ftd>\u003Ctd>0,4%\u003C\u002Ftd>\u003Ctd>3,2%\u003C\u002Ftd>\u003Ctd>-1,5%\u003C\u002Ftd>\u003Ctd>0,1%\u003C\u002Ftd>\u003Ctd>0,5%\u003C\u002Ftd>\u003C\u002Ftr>\u003Ctr>\u003Ctd>HGBS\u003C\u002Ftd>\u003Ctd>4,5%\u003C\u002Ftd>\u003Ctd>9,8%\u003C\u002Ftd>\u003Ctd>2,4%\u003C\u002Ftd>\u003Ctd>1,9%\u003C\u002Ftd>\u003Ctd>4,5%\u003C\u002Ftd>\u003C\u002Ftr>\u003C\u002Ftbody>\u003C\u002Ftable>\u003Cp>Fonte: Hedge, Administradores\u003C\u002Fp>\u003Ch3>DESEMPENHO DO FUNDO\u003C\u002Fh3>\u003Ch3>RESULTADO\u003C\u002Fh3>\u003Cp>Em janeiro, o resultado do Fundo foi de R$ 0,159 \u002F cota. O Fundo anunciou a distribuição de R$ 0,160 \u002F cota como rendimento referente ao mês de janeiro de 2026, considerando as 129.133.010 cotas no fechamento do mês, com pagamento em 13 de fevereiro de 2026, aos detentores de cotas em 30 de janeiro de 2026.\u003C\u002Fp>\u003Cp>Informamos que em janeiro houve um pequeno prejuízo de R$ 0,011 \u002F cota com a venda da participação de 15% no Suzano Shopping, em uma transação que envolveu a aquisição de 35% do Boulevard Bauru pelo cap rate de 9,3% e venda do Suzano pelo cap rate de 8,6%. Adicionalmente, informamos que o Fundo levantou caixa com a venda de FIIs líquidos, realizando um prejuízo compensado pelo lucro obtido com venda de FIIs estratégicos.\u003C\u002Fp>\u003Cp>A política de distribuição de rendimentos do Fundo está de acordo com a regulamentação vigente, que prevê a distribuição de no mínimo 95% do resultado semestral auferido a regime de caixa. O resultado contempla as receitas provenientes dos resultados recebidos dos shopping centers investidos, receitas financeiras, resultado com operações e despesas operacionais do Fundo.\u003C\u002Fp>\u003Cp>\u003Cstrong>Para maiores detalhes, recomendamos a análise da Planilha de Fundamentos, disponível na\u003C\u002Fstrong> \u003Cstrong>página\u003C\u002Fstrong> \u003Cstrong>do Fundo.\u003C\u002Fstrong>\u003C\u002Fp>\u003Ctable>\u003Cthead>\u003Ctr>\u003Cth>HGBS 11\u003C\u002Fth>\u003Cth>jan-26\u003C\u002Fth>\u003Cth>R$ \u002F Cota\u003C\u002Fth>\u003C\u002Ftr>\u003C\u002Fthead>\u003Ctbody>\u003Ctr>\u003Ctd>Receita Imobiliária\u003C\u002Ftd>\u003Ctd>26.171.697\u003C\u002Ftd>\u003Ctd>0,203\u003C\u002Ftd>\u003C\u002Ftr>\u003Ctr>\u003Ctd>Imóveis\u003C\u002Ftd>\u003Ctd>23.114.839\u003C\u002Ftd>\u003Ctd>0,179\u003C\u002Ftd>\u003C\u002Ftr>\u003Ctr>\u003Ctd>FIIs Estratégicos - Rendimento\u003C\u002Ftd>\u003Ctd>3.056.857\u003C\u002Ftd>\u003Ctd>0,024\u003C\u002Ftd>\u003C\u002Ftr>\u003Ctr>\u003Ctd>Outras Receitas\u003C\u002Ftd>\u003Ctd>1.484.204\u003C\u002Ftd>\u003Ctd>0,011\u003C\u002Ftd>\u003C\u002Ftr>\u003Ctr>\u003Ctd>FIIs Líquidos - Rendimento\u003C\u002Ftd>\u003Ctd>672.805\u003C\u002Ftd>\u003Ctd>0,005\u003C\u002Ftd>\u003C\u002Ftr>\u003Ctr>\u003Ctd>CRI\u003C\u002Ftd>\u003Ctd>186.439\u003C\u002Ftd>\u003Ctd>0,001\u003C\u002Ftd>\u003C\u002Ftr>\u003Ctr>\u003Ctd>LCI\u003C\u002Ftd>\u003Ctd>62.137\u003C\u002Ftd>\u003Ctd>0,000\u003C\u002Ftd>\u003C\u002Ftr>\u003Ctr>\u003Ctd>Renda Fixa\u003C\u002Ftd>\u003Ctd>562.823\u003C\u002Ftd>\u003Ctd>0,004\u003C\u002Ftd>\u003C\u002Ftr>\u003Ctr>\u003Ctd>Total de Despesas\u003C\u002Ftd>\u003Ctd>(5.273.479)\u003C\u002Ftd>\u003Ctd>(0,041)\u003C\u002Ftd>\u003C\u002Ftr>\u003Ctr>\u003Ctd>Despesas operacionais\u003C\u002Ftd>\u003Ctd>(1.609.104)\u003C\u002Ftd>\u003Ctd>(0,012)\u003C\u002Ftd>\u003C\u002Ftr>\u003Ctr>\u003Ctd>Despesas financeiras\u003C\u002Ftd>\u003Ctd>(3.664.375)\u003C\u002Ftd>\u003Ctd>(0,028)\u003C\u002Ftd>\u003C\u002Ftr>\u003Ctr>\u003Ctd>Resultado Operacional\u003C\u002Ftd>\u003Ctd>22.382.422\u003C\u002Ftd>\u003Ctd>0,173\u003C\u002Ftd>\u003C\u002Ftr>\u003Ctr>\u003Ctd>Lucro Operações\u003C\u002Ftd>\u003Ctd>(1.892.139)\u003C\u002Ftd>\u003Ctd>(0,015)\u003C\u002Ftd>\u003C\u002Ftr>\u003Ctr>\u003Ctd>Imóveis\u003C\u002Ftd>\u003Ctd>(1.371.923)\u003C\u002Ftd>\u003Ctd>(0,011)\u003C\u002Ftd>\u003C\u002Ftr>\u003Ctr>\u003Ctd>FIIs Estrat. - Ganho de Capital\u003C\u002Ftd>\u003Ctd>4.551.089\u003C\u002Ftd>\u003Ctd>0,035\u003C\u002Ftd>\u003C\u002Ftr>\u003Ctr>\u003Ctd>FIIs Líquidos - Ganho de Capital\u003C\u002Ftd>\u003Ctd>(4.930.245)\u003C\u002Ftd>\u003Ctd>(0,038)\u003C\u002Ftd>\u003C\u002Ftr>\u003Ctr>\u003Ctd>IR Ganho FIIs\u003C\u002Ftd>\u003Ctd>(141.060)\u003C\u002Ftd>\u003Ctd>(0,001)\u003C\u002Ftd>\u003C\u002Ftr>\u003Ctr>\u003Ctd>Resultado HGBS11\u003C\u002Ftd>\u003Ctd>20.490.283\u003C\u002Ftd>\u003Ctd>0,159\u003C\u002Ftd>\u003C\u002Ftr>\u003Ctr>\u003Ctd>Rendimento HGBS11\u003C\u002Ftd>\u003Ctd>20.661.282\u003C\u002Ftd>\u003Ctd>0,160\u003C\u002Ftd>\u003C\u002Ftr>\u003C\u002Ftbody>\u003C\u002Ftable>\u003Cp>Renda Imobiliária: Imóveis: compreende receitas operacionais dos shoppings, líquidas das despesas operacionais aplicáveis ao negócio, FIIs Estratégicos – Rendimento: rendimentos nos investimentos dos FIIs HPDP11, PQDP11, FVPQ11, FLRP11, WPLZ11 e ABCP11. Outras Receitas: FIIs Líquidos - Rendimento: rendimentos nos investimentos em FIIs não estratégicos. CRI: recebimento de juros e correção monetária dos CRIs detidos pelo Fundo. LCI: a receita de LCI é considerada somente quando da sua liquidação financeira. Despesas: Operacionais: diretamente relacionadas ao Fundo, tais como taxa de administração, honorários jurídicos, assessoria técnica, contábil e imobiliária, taxas CVM e B3. Financeiras: pagamento de juros e demais despesas financeiras relacionadas ao CRI HGBS. Lucros Operações: diferença entre valor de venda e valor de aquisição dos ativos, incluindo custos relacionados.\u003C\u002Fp>\u003Ch3>RESULTADOS GERADOS E RENDIMENTOS DISTRIBUÍDOS (R$ \u002F COTA)\u003C\u002Fh3>\u003Cp>\u003Cimg alt=\"\" src=\"\u002Fstorage\u002Ffiis\u002Fdocumentos\u002F5472\u002Fpage_11_chart_4.jpg\">\u003C\u002Fp>\u003Ctable>\u003Cthead>\u003Ctr>\u003Cth>\u003C\u002Fth>\u003Cth>jan-25\u003C\u002Fth>\u003Cth>fev-25\u003C\u002Fth>\u003Cth>mar-25\u003C\u002Fth>\u003Cth>abr-25\u003C\u002Fth>\u003Cth>mai-25\u003C\u002Fth>\u003Cth>jun-25\u003C\u002Fth>\u003Cth>jul-25\u003C\u002Fth>\u003Cth>ago-25\u003C\u002Fth>\u003Cth>set-25\u003C\u002Fth>\u003Cth>out-25\u003C\u002Fth>\u003Cth>nov-25\u003C\u002Fth>\u003Cth>dez-25\u003C\u002Fth>\u003Cth>jan-26\u003C\u002Fth>\u003Cth>Média12m\u003C\u002Fth>\u003C\u002Ftr>\u003C\u002Fthead>\u003Ctbody>\u003Ctr>\u003Ctd>Resultado Total\u003C\u002Ftd>\u003Ctd>0,181\u003C\u002Ftd>\u003Ctd>0,224\u003C\u002Ftd>\u003Ctd>0,143\u003C\u002Ftd>\u003Ctd>0,120\u003C\u002Ftd>\u003Ctd>0,140\u003C\u002Ftd>\u003Ctd>0,130\u003C\u002Ftd>\u003Ctd>0,155\u003C\u002Ftd>\u003Ctd>0,130\u003C\u002Ftd>\u003Ctd>0,166\u003C\u002Ftd>\u003Ctd>0,141\u003C\u002Ftd>\u003Ctd>0,136\u003C\u002Ftd>\u003Ctd>0,153\u003C\u002Ftd>\u003Ctd>0,159\u003C\u002Ftd>\u003Ctd>0,150\u003C\u002Ftd>\u003C\u002Ftr>\u003Ctr>\u003Ctd>Rendimento\u003C\u002Ftd>\u003Ctd>0,160\u003C\u002Ftd>\u003Ctd>0,160\u003C\u002Ftd>\u003Ctd>0,160\u003C\u002Ftd>\u003Ctd>0,160\u003C\u002Ftd>\u003Ctd>0,160\u003C\u002Ftd>\u003Ctd>0,160\u003C\u002Ftd>\u003Ctd>0,150\u003C\u002Ftd>\u003Ctd>0,150\u003C\u002Ftd>\u003Ctd>0,150\u003C\u002Ftd>\u003Ctd>0,150\u003C\u002Ftd>\u003Ctd>0,150\u003C\u002Ftd>\u003Ctd>0,150\u003C\u002Ftd>\u003Ctd>0,160\u003C\u002Ftd>\u003Ctd>0,155\u003C\u002Ftd>\u003C\u002Ftr>\u003Ctr>\u003Ctd>Resultado Acumulado\u003C\u002Ftd>\u003Ctd>0,067\u003C\u002Ftd>\u003Ctd>0,131\u003C\u002Ftd>\u003Ctd>0,114\u003C\u002Ftd>\u003Ctd>0,074\u003C\u002Ftd>\u003Ctd>0,054\u003C\u002Ftd>\u003Ctd>0,024\u003C\u002Ftd>\u003Ctd>0,030\u003C\u002Ftd>\u003Ctd>0,010\u003C\u002Ftd>\u003Ctd>0,026\u003C\u002Ftd>\u003Ctd>0,017\u003C\u002Ftd>\u003Ctd>0,003\u003C\u002Ftd>\u003Ctd>0,006\u003C\u002Ftd>\u003Ctd>0,005\u003C\u002Ftd>\u003Ctd>-\u003C\u002Ftd>\u003C\u002Ftr>\u003C\u002Ftbody>\u003C\u002Ftable>\u003Ch3>PROJEÇÃO DE RESULTADOS\u003C\u002Fh3>\u003Cp>Conforme mencionado nos últimos relatórios, a gestora segue avaliando a performance dos ativos, bem como eventuais movimentos na reciclagem de portfólio para aumentar a rentabilidade da carteira, que podem gerar ganhos não recorrentes a serem distribuídos aos cotistas.\u003C\u002Fp>\u003Cp>Neste sentido, informamos que estamos em tratativas avançadas para alienação de ativos do portfólio, o que poderá aumentar a base de resultado a ser distribuído. Por esta razão, o novo guidance de rendimentos será divulgado em momento oportuno.\u003C\u002Fp>\u003Cp>Todas as declarações quando baseadas em expectativas futuras, envolvem riscos e incertezas e, portanto, não devem ser consideradas como promessa ou garantia de rentabilidade futura.\u003C\u002Fp>\u003Cp>Fonte: Hedge\u003C\u002Fp>\u003Ch3>RENTABILIDADE\u003C\u002Fh3>\u003Cp>A rentabilidade do Fundo é apresentada de duas formas:\u003C\u002Fp>\u003Cp>A \u003Cstrong>Taxa Interna de Retorno\u003C\u002Fstrong> (TIR) líquida leva em consideração os rendimentos distribuídos pelo Fundo, reinvestidos no próprio fluxo, e a variação do valor da cota. Este cálculo é realizado considerando que pessoas físicas que detêm quantidade inferior a 10% do total de cotas do Fundo são isentas de imposto de renda nos rendimentos distribuídos, e tributadas em 20% sobre eventual ganho de capital na venda da cota. Desta forma, a TIR líquida calculada considera o fluxo líquido de impostos e é comparada ao CDI, também líquido, com alíquota de 15%.\u003C\u002Fp>\u003Cp>Na tabela seguinte, a cota de aquisição indica o valor de mercado da cota no mercado secundário no fechamento do mês anterior, semestre anterior, ano anterior e 12 meses atrás, bem como o valor da cota inicial do Fundo, em 21\u002F11\u002F2006 (data da primeira integralização por investidores). A renda acumulada é calculada como sendo o total de rendimentos distribuídos pelo Fundo nos respectivos períodos, divididos pelo valor de aquisição da cota.\u003C\u002Fp>\u003Cp>O ganho de capital líquido contempla a variação do valor da cota no período, já descontados os 20% de imposto sobre o ganho de capital em caso de variação positiva. O cálculo da TIR líquida também é apresentado de forma anualizada desde a primeira integralização de cotas.\u003C\u002Fp>\u003Cp>O \u003Cstrong>Retorno Total Bruto\u003C\u002Fstrong> é calculado pela soma dos rendimentos distribuídos pelo Fundo ao valor da cota, sem qualquer reinvestimento, correção e, também, sem tributação. Neste caso, o retorno total bruto é comparado ao IFIX, que possui metodologia comparável.\u003C\u002Fp>\u003Cp>No fechamento do mês, o valor de mercado da cota do fundo foi de \u003Cstrong>R$ 20,00.\u003C\u002Fstrong>\u003C\u002Fp>\u003Ctable>\u003Cthead>\u003Ctr>\u003Cth>Hedge Brasil Shopping FII\u003C\u002Fth>\u003Cth>jan\u002F26\u003C\u002Fth>\u003Cth>12 meses\u003C\u002Fth>\u003Cth>Início\u003C\u002Fth>\u003C\u002Ftr>\u003C\u002Fthead>\u003Ctbody>\u003Ctr>\u003Ctd>Cota Aquisição (R$)\u003C\u002Ftd>\u003Ctd>20,00\u003C\u002Ftd>\u003Ctd>17,70\u003C\u002Ftd>\u003Ctd>10,00\u003C\u002Ftd>\u003C\u002Ftr>\u003Ctr>\u003Ctd>Renda Acumulada\u003C\u002Ftd>\u003Ctd>0,8%\u003C\u002Ftd>\u003Ctd>10,5%\u003C\u002Ftd>\u003Ctd>281,9%\u003C\u002Ftd>\u003C\u002Ftr>\u003Ctr>\u003Ctd>Ganho de Capital Líquido\u003C\u002Ftd>\u003Ctd>0,0%\u003C\u002Ftd>\u003Ctd>10,4%\u003C\u002Ftd>\u003Ctd>80,0%\u003C\u002Ftd>\u003C\u002Ftr>\u003Ctr>\u003Ctd>TIR Líq. (Renda + Venda)\u003C\u002Ftd>\u003Ctd>0,8%\u003C\u002Ftd>\u003Ctd>22,2%\u003C\u002Ftd>\u003Ctd>1431,5%\u003C\u002Ftd>\u003C\u002Ftr>\u003Ctr>\u003Ctd>TIR Líq. (Renda + Venda) a.a.\u003C\u002Ftd>\u003Ctd>9,4%\u003C\u002Ftd>\u003Ctd>22,2%\u003C\u002Ftd>\u003Ctd>15,3%\u003C\u002Ftd>\u003C\u002Ftr>\u003Ctr>\u003Ctd>% CDI Líquido\u003C\u002Ftd>\u003Ctd>76,2%\u003C\u002Ftd>\u003Ctd>181,7%\u003C\u002Ftd>\u003Ctd>322,5%\u003C\u002Ftd>\u003C\u002Ftr>\u003Ctr>\u003Ctd>Retorno Total Bruto\u003C\u002Ftd>\u003Ctd>0,8%\u003C\u002Ftd>\u003Ctd>23,5%\u003C\u002Ftd>\u003Ctd>381,9%\u003C\u002Ftd>\u003C\u002Ftr>\u003Ctr>\u003Ctd>IFIX\u003C\u002Ftd>\u003Ctd>2,3%\u003C\u002Ftd>\u003Ctd>27,8%\u003C\u002Ftd>\u003Ctd>258,9%¹\u003C\u002Ftd>\u003C\u002Ftr>\u003Ctr>\u003Ctd>% IFIX\u003C\u002Ftd>\u003Ctd>33,0%\u003C\u002Ftd>\u003Ctd>84,4%\u003C\u002Ftd>\u003Ctd>117,4%²\u003C\u002Ftd>\u003C\u002Ftr>\u003C\u002Ftbody>\u003C\u002Ftable>\u003Cp>¹ Performance do IFIX desde sua criação em dez-2010\u003C\u002Fp>\u003Cp>² Performance do Fundo em relação ao IFIX desde dez-2010, data da criação do IFIX.\u003C\u002Fp>\u003Ch3>RENTABILIDADE ACUMULADA\u003C\u002Fh3>\u003Cp>O gráfico abaixo compara a série histórica acumulada, na base 100, de alguns indicadores de mercado em relação ao valor da cota ajustada por rendimentos desde o início do Fundo em novembro de 2006 e do início do IFIX, em dezembro de 2010.\u003C\u002Fp>\u003Cp>\u003Cimg alt=\"\" src=\"\u002Fstorage\u002Ffiis\u002Fdocumentos\u002F5472\u002Fpage_13_chart_5.jpg\">\u003C\u002Fp>\u003Cp>Fonte: Hedge \u002F B3 \u002F Bacen \u002F Economática\u003C\u002Fp>\u003Ch3>LIQUIDEZ E VALOR DA COTA\u003C\u002Fh3>\u003Ctable>\u003Cthead>\u003Ctr>\u003Cth>Negociação B3\u003C\u002Fth>\u003Cth>jan\u002F26\u003C\u002Fth>\u003Cth>12 meses\u003C\u002Fth>\u003C\u002Ftr>\u003C\u002Fthead>\u003Ctbody>\u003Ctr>\u003Ctd>Presença em pregões\u003C\u002Ftd>\u003Ctd>100%\u003C\u002Ftd>\u003Ctd>100%\u003C\u002Ftd>\u003C\u002Ftr>\u003Ctr>\u003Ctd>Giro (em % do total de cotas)\u003C\u002Ftd>\u003Ctd>3,6%\u003C\u002Ftd>\u003Ctd>26,9%\u003C\u002Ftd>\u003C\u002Ftr>\u003Ctr>\u003Ctd>Volume negociado (R$ milhões)\u003C\u002Ftd>\u003Ctd>91,8\u003C\u002Ftd>\u003Ctd>674,0\u003C\u002Ftd>\u003C\u002Ftr>\u003Ctr>\u003Ctd>Volume médio diário (R$ milhões)\u003C\u002Ftd>\u003Ctd>4,4\u003C\u002Ftd>\u003Ctd>2,7\u003C\u002Ftd>\u003C\u002Ftr>\u003C\u002Ftbody>\u003C\u002Ftable>\u003Cp>\u003Cimg alt=\"\" src=\"\u002Fstorage\u002Ffiis\u002Fdocumentos\u002F5472\u002Fpage_13_chart_9.jpg\">\u003C\u002Fp>\u003Cp>Fonte: Hedge \u002F B3 \u002F Economática\u003C\u002Fp>\u003Ch3>CARTEIRA DE INVESTIMENTOS\u003C\u002Fh3>\u003Cp>O Fundo encerrou o mês com investimentos em 20 shopping centers, distribuídos em quinze cidades e seis estados, sendo 15 detidos de forma direta, 4 detidos através de cotas de outros FIIs (HPDP11, FVPQ11, FLRP11 e ABCP11), 1 detido parte de forma direta e parte em cotas de WPLZ11. Estes shoppings representam 94,3% da carteira de ativos do Fundo. Dentre este portfólio, o Fundo detém participação majoritária em 7 shoppings, que totalizam 52% do valor investido em ativos estratégicos.\u003C\u002Fp>\u003Ch3>DIVERSIFICAÇÃO DA CARTEIRA DE ATIVOS\u003C\u002Fh3>\u003Cp>\u003Cimg alt=\"\" src=\"\u002Fstorage\u002Ffiis\u002Fdocumentos\u002F5472\u002Fpage_14_chart_6.jpg\">\u003C\u002Fp>\u003Ch3>DIVERSIFICAÇÃO - ATIVOS ESTRATÉGICOS\u003C\u002Fh3>\u003Ctable>\u003Cthead>\u003Ctr>\u003Cth>Estratégicos\u003C\u002Fth>\u003Cth>94,3%\u003C\u002Fth>\u003Cth>FIIs Líquidos\u003C\u002Fth>\u003Cth>1,3%\u003C\u002Fth>\u003C\u002Ftr>\u003C\u002Fthead>\u003Ctbody>\u003Ctr>\u003Ctd>CRIs e LCIs\u003C\u002Ftd>\u003Ctd>2,7%\u003C\u002Ftd>\u003Ctd>Fundos RF\u003C\u002Ftd>\u003Ctd>1,7%\u003C\u002Ftd>\u003C\u002Ftr>\u003C\u002Ftbody>\u003C\u002Ftable>\u003Cp>\u003Cimg alt=\"\" src=\"\u002Fstorage\u002Ffiis\u002Fdocumentos\u002F5472\u002Fpage_14_image_9.jpg\">\u003C\u002Fp>\u003Cp>\u003Cimg alt=\"\" src=\"\u002Fstorage\u002Ffiis\u002Fdocumentos\u002F5472\u002Fpage_14_chart_10.jpg\">\u003C\u002Fp>\u003Cp>\u003Cimg alt=\"\" src=\"\u002Fstorage\u002Ffiis\u002Fdocumentos\u002F5472\u002Fpage_14_image_11.jpg\">\u003C\u002Fp>\u003Ch3>DIVERSIFICAÇÃO POR OPERADORES (%)\u003C\u002Fh3>\u003Cp>\u003Cimg alt=\"\" src=\"\u002Fstorage\u002Ffiis\u002Fdocumentos\u002F5472\u002Fpage_14_image_13.jpg\">\u003C\u002Fp>\u003Cp>\u003Cimg alt=\"\" src=\"\u002Fstorage\u002Ffiis\u002Fdocumentos\u002F5472\u002Fpage_14_image_14.jpg\">\u003C\u002Fp>\u003Ctable>\u003Cthead>\u003Ctr>\u003Cth>ALLOS\u003C\u002Fth>\u003Cth>25%\u003C\u002Fth>\u003C\u002Ftr>\u003C\u002Fthead>\u003Ctbody>\u003Ctr>\u003Ctd>AD Shopping\u003C\u002Ftd>\u003Ctd>18%\u003C\u002Ftd>\u003C\u002Ftr>\u003Ctr>\u003Ctd>Ancar Ivanhoe\u003C\u002Ftd>\u003Ctd>15%\u003C\u002Ftd>\u003C\u002Ftr>\u003Ctr>\u003Ctd>Soul Malls\u003C\u002Ftd>\u003Ctd>13%\u003C\u002Ftd>\u003C\u002Ftr>\u003Ctr>\u003Ctd>WE9\u003C\u002Ftd>\u003Ctd>11%\u003C\u002Ftd>\u003C\u002Ftr>\u003Ctr>\u003Ctd>Multiplan\u003C\u002Ftd>\u003Ctd>8%\u003C\u002Ftd>\u003C\u002Ftr>\u003Ctr>\u003Ctd>Plena Malls\u003C\u002Ftd>\u003Ctd>4%\u003C\u002Ftd>\u003C\u002Ftr>\u003Ctr>\u003Ctd>SYN\u003C\u002Ftd>\u003Ctd>2%\u003C\u002Ftd>\u003C\u002Ftr>\u003Ctr>\u003Ctd>Partage\u003C\u002Ftd>\u003Ctd>2%\u003C\u002Ftd>\u003C\u002Ftr>\u003Ctr>\u003Ctd>Iguatemi\u003C\u002Ftd>\u003Ctd>2%\u003C\u002Ftd>\u003C\u002Ftr>\u003Ctr>\u003Ctd>Alqia\u003C\u002Ftd>\u003Ctd>1%\u003C\u002Ftd>\u003C\u002Ftr>\u003C\u002Ftbody>\u003C\u002Ftable>\u003Cp>M Dom Pedro Parque\u003C\u002Fp>\u003Cp>\u003Cimg alt=\"\" src=\"\u002Fstorage\u002Ffiis\u002Fdocumentos\u002F5472\u002Fpage_14_image_17.jpg\">\u003C\u002Fp>\u003Cp>BOULEVARD SHOPPING\u003C\u002Fp>\u003Cp>\u003Cimg alt=\"\" src=\"\u002Fstorage\u002Ffiis\u002Fdocumentos\u002F5472\u002Fpage_14_image_19.jpg\">\u003C\u002Fp>\u003Cp>ParkShoppingSãoCaetano Multiplan\u003C\u002Fp>\u003Cp>\u003Cimg alt=\"\" src=\"\u002Fstorage\u002Ffiis\u002Fdocumentos\u002F5472\u002Fpage_14_image_21.jpg\">\u003C\u002Fp>\u003Cp>\u003Cimg alt=\"\" src=\"\u002Fstorage\u002Ffiis\u002Fdocumentos\u002F5472\u002Fpage_14_image_22.jpg\">\u003C\u002Fp>\u003Cp>\u003Cimg alt=\"\" src=\"\u002Fstorage\u002Ffiis\u002Fdocumentos\u002F5472\u002Fpage_14_image_23.jpg\">\u003C\u002Fp>\u003Cp>\u003Cimg alt=\"\" src=\"\u002Fstorage\u002Ffiis\u002Fdocumentos\u002F5472\u002Fpage_14_image_24.jpg\">\u003C\u002Fp>\u003Cp>\u003Cimg alt=\"\" src=\"\u002Fstorage\u002Ffiis\u002Fdocumentos\u002F5472\u002Fpage_14_image_25.jpg\">\u003C\u002Fp>\u003Ch3>West Plaza\u003C\u002Fh3>\u003Cp>\u003Cimg alt=\"\" src=\"\u002Fstorage\u002Ffiis\u002Fdocumentos\u002F5472\u002Fpage_14_image_27.jpg\">\u003C\u002Fp>\u003Cp>\u003Cimg alt=\"\" src=\"\u002Fstorage\u002Ffiis\u002Fdocumentos\u002F5472\u002Fpage_14_image_28.jpg\">\u003C\u002Fp>\u003Cp>\u003Cimg alt=\"\" src=\"\u002Fstorage\u002Ffiis\u002Fdocumentos\u002F5472\u002Fpage_14_image_29.jpg\">\u003C\u002Fp>\u003Cp>\u003Cimg alt=\"\" src=\"\u002Fstorage\u002Ffiis\u002Fdocumentos\u002F5472\u002Fpage_14_image_30.jpg\">\u003C\u002Fp>\u003Cp>\u003Cimg alt=\"\" src=\"\u002Fstorage\u002Ffiis\u002Fdocumentos\u002F5472\u002Fpage_14_image_31.jpg\">\u003C\u002Fp>\u003Cp>\u003Cimg alt=\"\" src=\"\u002Fstorage\u002Ffiis\u002Fdocumentos\u002F5472\u002Fpage_14_image_32.jpg\">\u003C\u002Fp>\u003Cp>\u003Cimg alt=\"\" src=\"\u002Fstorage\u002Ffiis\u002Fdocumentos\u002F5472\u002Fpage_14_image_33.jpg\">\u003C\u002Fp>\u003Cp>\u003Cimg alt=\"\" src=\"\u002Fstorage\u002Ffiis\u002Fdocumentos\u002F5472\u002Fpage_14_image_34.jpg\">\u003C\u002Fp>\u003Cp>\u003Cimg alt=\"\" src=\"\u002Fstorage\u002Ffiis\u002Fdocumentos\u002F5472\u002Fpage_14_image_35.jpg\">\u003C\u002Fp>\u003Cp>\u003Cimg alt=\"\" src=\"\u002Fstorage\u002Ffiis\u002Fdocumentos\u002F5472\u002Fpage_14_image_36.jpg\">\u003C\u002Fp>\u003Cp>\u003Cimg alt=\"\" src=\"\u002Fstorage\u002Ffiis\u002Fdocumentos\u002F5472\u002Fpage_14_image_37.jpg\">\u003C\u002Fp>\u003Cp>\u003Cimg alt=\"\" src=\"\u002Fstorage\u002Ffiis\u002Fdocumentos\u002F5472\u002Fpage_14_image_38.jpg\">\u003C\u002Fp>\u003Cp>\u003Cimg alt=\"\" src=\"\u002Fstorage\u002Ffiis\u002Fdocumentos\u002F5472\u002Fpage_14_image_39.jpg\">\u003C\u002Fp>\u003Cp>\u003Cimg alt=\"\" src=\"\u002Fstorage\u002Ffiis\u002Fdocumentos\u002F5472\u002Fpage_14_image_40.jpg\">\u003C\u002Fp>\u003Cp>\u003Cimg alt=\"\" src=\"\u002Fstorage\u002Ffiis\u002Fdocumentos\u002F5472\u002Fpage_14_image_41.jpg\">\u003C\u002Fp>\u003Cp>\u003Cimg alt=\"\" src=\"\u002Fstorage\u002Ffiis\u002Fdocumentos\u002F5472\u002Fpage_14_image_42.jpg\">\u003C\u002Fp>\u003Cp>\u003Cimg alt=\"\" src=\"\u002Fstorage\u002Ffiis\u002Fdocumentos\u002F5472\u002Fpage_14_image_43.jpg\">\u003C\u002Fp>\u003Cp>\u003Cimg alt=\"\" src=\"\u002Fstorage\u002Ffiis\u002Fdocumentos\u002F5472\u002Fpage_14_image_44.jpg\">\u003C\u002Fp>\u003Cp>\u003Cimg alt=\"\" src=\"\u002Fstorage\u002Ffiis\u002Fdocumentos\u002F5472\u002Fpage_14_image_45.jpg\">\u003C\u002Fp>\u003Cp>GOIABEIRAS SHOPPING\u003C\u002Fp>\u003Cp>\u003Cimg alt=\"\" src=\"\u002Fstorage\u002Ffiis\u002Fdocumentos\u002F5472\u002Fpage_14_image_47.jpg\">\u003C\u002Fp>\u003Cp>\u003Cimg alt=\"\" src=\"\u002Fstorage\u002Ffiis\u002Fdocumentos\u002F5472\u002Fpage_14_image_48.jpg\">\u003C\u002Fp>\u003Cp>\u003Cimg alt=\"\" src=\"\u002Fstorage\u002Ffiis\u002Fdocumentos\u002F5472\u002Fpage_14_image_49.jpg\">\u003C\u002Fp>\u003Ch3>DIVERSIFICAÇÃO POR REGIÃO (%)\u003C\u002Fh3>\u003Ctable>\u003Cthead>\u003Ctr>\u003Cth>São Paulo\u003C\u002Fth>\u003Cth>87%\u003C\u002Fth>\u003C\u002Ftr>\u003C\u002Fthead>\u003Ctbody>\u003Ctr>\u003Ctd>Tocantins\u003C\u002Ftd>\u003Ctd>7%\u003C\u002Ftd>\u003C\u002Ftr>\u003Ctr>\u003Ctd>Santa Catarina\u003C\u002Ftd>\u003Ctd>4%\u003C\u002Ftd>\u003C\u002Ftr>\u003Ctr>\u003Ctd>Rio Grande do Sul\u003C\u002Ftd>\u003Ctd>2%\u003C\u002Ftd>\u003C\u002Ftr>\u003Ctr>\u003Ctd>Rio de Janeiro\u003C\u002Ftd>\u003Ctd>1%\u003C\u002Ftd>\u003C\u002Ftr>\u003Ctr>\u003Ctd>Mato Grosso\u003C\u002Ftd>\u003Ctd>1%\u003C\u002Ftd>\u003C\u002Ftr>\u003C\u002Ftbody>\u003C\u002Ftable>\u003Cp>Fonte: Hedge\u003C\u002Fp>\u003Cp>\u003Cimg alt=\"\" src=\"\u002Fstorage\u002Ffiis\u002Fdocumentos\u002F5472\u002Fpage_14_image_53.jpg\">\u003C\u002Fp>\u003Ch3>QUANTIDADE DE ATIVOS POR PARTICIPAÇÃO\u003C\u002Fh3>\u003Cp>\u003Cimg alt=\"\" src=\"\u002Fstorage\u002Ffiis\u002Fdocumentos\u002F5472\u002Fpage_14_chart_55.jpg\">\u003C\u002Fp>\u003Ch3>ALAVANCAGEM DO FUNDO\u003C\u002Fh3>\u003Cp>Em junho de 2023, foi emitido um CRI para a primeira aquisição de participação no Shopping Jardim Sul (40%), identificado abaixo como “CRI HGBS I”, enquanto em dezembro de 2024 o Fundo adquiriu 25% do Shopping Jaraguá Araraquara com recursos levantados via CRI, identificado abaixo como “CRI HGBS II”, e pela assunção de dívida já existente, identificada abaixo como “CRI Habitasec”. Em dezembro de 2025 foram levantados recursos via CRI para a aquisição de 20% do ParkShopping São Caetano, identificado abaixo como “CRI PSC”. As características e fluxo de pagamentos estão apresentados abaixo. Em janeiro de 2026 foram levantados recursos via CRI para a aquisição de 35% do Boulevard Shopping Bauru, identificado abaixo como “CRI Bauru I” e “CRI Bauru II”. As características e fluxo de pagamentos estão apresentados abaixo.\u003C\u002Fp>\u003Ctable>\u003Ctr>\u003Ctd colspan=\"8\">Relação 15,9% Dívida \u002F PL\u003C\u002Ftd>\u003C\u002Ftr>\u003Ctr>\u003Ctd>Identificação\u003C\u002Ftd>\u003Ctd>CRI HGBSI\u003C\u002Ftd>\u003Ctd>CRI HGBSI\u003C\u002Ftd>\u003Ctd>CRI HGBS II\u003C\u002Ftd>\u003Ctd>CRI PSC\u003C\u002Ftd>\u003Ctd>CRI Bauru I\u003C\u002Ftd>\u003Ctd>CRI Bauru II\u003C\u002Ftd>\u003Ctd>CRI Habitasec\u003C\u002Ftd>\u003C\u002Ftr>\u003Ctr>\u003Ctd>Séries\u003C\u002Ftd>\u003Ctd>174ªe 196a da TrueSec\u003C\u002Ftd>\u003Ctd>197ae 198a da TrueSec\u003C\u002Ftd>\u003Ctd>242a da Virgo\u003C\u002Ftd>\u003Ctd>135a da Província\u003C\u002Ftd>\u003Ctd>138a da Província\u003C\u002Ftd>\u003Ctd>138a da Província\u003C\u002Ftd>\u003Ctd>205ae 348a da Habitasec\u003C\u002Ftd>\u003C\u002Ftr>\u003Ctr>\u003Ctd>Código IF\u003C\u002Ftd>\u003Ctd>23F2356215 23F2354249\u003C\u002Ftd>\u003Ctd>23F2356518 23F2356527\u003C\u002Ftd>\u003Ctd>24L1967186\u003C\u002Ftd>\u003Ctd>25L3091365\u003C\u002Ftd>\u003Ctd>25L3673856\u003C\u002Ftd>\u003Ctd>25L3678075\u003C\u002Ftd>\u003Ctd>20J0030144 20J0947707\u003C\u002Ftd>\u003C\u002Ftr>\u003Ctr>\u003Ctd>Saldo devedor (R$ milhões)\u003C\u002Ftd>\u003Ctd>R$ 98,5\u003C\u002Ftd>\u003Ctd>R$ 103,8\u003C\u002Ftd>\u003Ctd>R$ 93,8\u003C\u002Ftd>\u003Ctd>R$ 120,0\u003C\u002Ftd>\u003Ctd>R$ 26,6\u003C\u002Ftd>\u003Ctd>R$ 65,6\u003C\u002Ftd>\u003Ctd>R$ 10,0\u003C\u002Ftd>\u003C\u002Ftr>\u003Ctr>\u003Ctd>Garantia\u003C\u002Ftd>\u003Ctd>Cotas de Flls detidas pelo HGBS e AF de 50% do Jardim Sul\u003C\u002Ftd>\u003Ctd>Cotas de Flls detidas pelo HGBS e AF de 50% do Jardim Sul\u003C\u002Ftd>\u003Ctd>AF de 20% do Mooca Plaza Shopping\u003C\u002Ftd>\u003Ctd>Cotas de Flls detidas pelo\u003C\u002Ftd>\u003Ctd>Cotas de Flls detidas pelo HGBS e AF de HGBS e AF de HGBS e AF de 65% do Bauru 35% do Bauru 35% do Bauru\u003C\u002Ftd>\u003Ctd>Cotas de Flls detidas pelo\u003C\u002Ftd>\u003Ctd>Não há (por parte do HGBS)\u003C\u002Ftd>\u003C\u002Ftr>\u003Ctr>\u003Ctd>Rating\u003C\u002Ftd>\u003Ctd>AA.br (Moody's)\u003C\u002Ftd>\u003Ctd>AA.br (Moody's)\u003C\u002Ftd>\u003Ctd>brA+ (Austin)\u003C\u002Ftd>\u003Ctd>\u003C\u002Ftd>\u003Ctd>\u003C\u002Ftd>\u003Ctd>\u003C\u002Ftd>\u003Ctd>\u003C\u002Ftd>\u003C\u002Ftr>\u003Ctr>\u003Ctd>Taxa de emissão\u003C\u002Ftd>\u003Ctd>IPCA + 8,0% a.a.\u003C\u002Ftd>\u003Ctd>CDI + 2,4% a.a.\u003C\u002Ftd>\u003Ctd>IPCA + 8,6% a.a.\u003C\u002Ftd>\u003Ctd>CDI + 1,75% a.a.\u003C\u002Ftd>\u003Ctd>CDI + 1,75% a.a.\u003C\u002Ftd>\u003Ctd>CDI + 1,6% a.a.\u003C\u002Ftd>\u003Ctd>IPCA + 5,38% a.a.\u003C\u002Ftd>\u003C\u002Ftr>\u003Ctr>\u003Ctd>Data de emissão\u003C\u002Ftd>\u003Ctd>06\u002F2023\u003C\u002Ftd>\u003Ctd>06\u002F2023\u003C\u002Ftd>\u003Ctd>12\u002F2024\u003C\u002Ftd>\u003Ctd>12\u002F2025\u003C\u002Ftd>\u003Ctd>12\u002F2025\u003C\u002Ftd>\u003Ctd>12\u002F2025\u003C\u002Ftd>\u003Ctd>12\u002F2024\u003C\u002Ftd>\u003C\u002Ftr>\u003Ctr>\u003Ctd>Vencimento\u003C\u002Ftd>\u003Ctd>06\u002F2033\u003C\u002Ftd>\u003Ctd>06\u002F2033\u003C\u002Ftd>\u003Ctd>06\u002F2032\u003C\u002Ftd>\u003Ctd>12\u002F2037\u003C\u002Ftd>\u003Ctd>12\u002F2037\u003C\u002Ftd>\u003Ctd>12\u002F2028\u003C\u002Ftd>\u003Ctd>09\u002F2032\u003C\u002Ftd>\u003C\u002Ftr>\u003C\u002Ftable>\u003Ch3>FLUXO DE AMORTIZAÇÃO POR VENCIMENTO (R$ milhões)\u003C\u002Fh3>\u003Cp>\u003Cimg alt=\"\" src=\"\u002Fstorage\u002Ffiis\u002Fdocumentos\u002F5472\u002Fpage_15_chart_7.jpg\">\u003C\u002Fp>\u003Cp>Fonte: Hedge, True Securitizadora\u003C\u002Fp>\u003Ch3>SHOPPING JARDIM SUL (15% DA CARTEIRA)\u003C\u002Fh3>\u003Cp>Localizado no bairro do Morumbi, uma região com alta densidade residencial e empresarial, o Shopping Jardim Sul alinha conforto e bem-estar, oferecendo serviços de qualidade e uma diversidade de lojas e atividades que atendam às necessidades dos consumidores.\u003C\u002Fp>\u003Cp>Destacamos uma movimentação comercial estratégica realizada para viabilizar duas mudanças relevantes no mix de lojistas do Jardim Sul: i) a entrada do CEMA Medicina Especializada, referência em oftalmologia e otorrinolaringologia e uma das operações de saúde que mais crescem no mercado; ii) a ampliação da área do Espaço Curumim Kids, que também terá seu escopo de atuação expandido.\u003C\u002Fp>\u003Cp>Essa movimentação atende a um desejo antigo da gestão e preenche duas lacunas importantes no mix do shopping: a ausência de uma operação de saúde com atendimento clínico e a falta de uma oferta completa de lazer e recreação infantil. Além de qualificar o mix, a iniciativa reforça a ancoragem de serviços do shopping e aumenta a rentabilidade do shopping.\u003C\u002Fp>\u003Cp>Movimentações comerciais: entradas da São Paulo Store (60 m²) e Mr Cheney (26 m²), saídas da Chiquinho Sorvetes (31 m²) e Via Laser (28 m²).\u003C\u002Fp>\u003Ctable>\u003Cthead>\u003Ctr>\u003Cth>PARTICIPAÇÃO\u003C\u002Fth>\u003Cth>ABL TOTAL\u003C\u002Fth>\u003Cth>OPERAÇÕES\u003C\u002Fth>\u003Cth>INAUGURAÇÃO\u003C\u002Fth>\u003Cth>OPERADOR\u003C\u002Fth>\u003C\u002Ftr>\u003C\u002Fthead>\u003Ctbody>\u003Ctr>\u003Ctd>80,0%\u003C\u002Ftd>\u003Ctd>28,7 mil m²\u003C\u002Ftd>\u003Ctd>171\u003C\u002Ftd>\u003Ctd>1990\u003C\u002Ftd>\u003Ctd>Ancar + Hedge\u003C\u002Ftd>\u003C\u002Ftr>\u003C\u002Ftbody>\u003C\u002Ftable>\u003Cp>Principais Operações: Renner, C&A, CEMA Medicina Especializada (a inaugurar), Centauro, Fast Shop, Pão de Açúcar, Outback, Almanara, Madero, América e UCI Cinemas.\u003C\u002Fp>\u003Cp>Endereço: Av. Giovanni Gronchi, 5.819 – São Paulo\u002FSP.\u003C\u002Fp>\u003Cp>www.shoppingjardimsul.com.br\u003C\u002Fp>\u003Cp>\u003Cimg alt=\"\" src=\"\u002Fstorage\u002Ffiis\u002Fdocumentos\u002F5472\u002Fpage_16_image_12.jpg\">\u003C\u002Fp>\u003Cp>Fotos: Maurício Moreno.\u003C\u002Fp>\u003Cp>SHOPPING JARDIM SUL (15% DA CARTEIRA)\u003C\u002Fp>\u003Ctable>\u003Cthead>\u003Ctr>\u003Cth>Fluxo de Caixa 100% shopping\u003C\u002Fth>\u003Cth>Realizadodez-25\u003C\u002Fth>\u003Cth>Realizadodez-24\u003C\u002Fth>\u003Cth>Variação vs. dez-24\u003C\u002Fth>\u003Cth>Acum.dez-25\u003C\u002Fth>\u003Cth>Acum.dez-24\u003C\u002Fth>\u003Cth>Variação acum. a\u002Fa\u003C\u002Fth>\u003C\u002Ftr>\u003C\u002Fthead>\u003Ctbody>\u003Ctr>\u003Ctd>Aluguel mínimo\u003C\u002Ftd>\u003Ctd>2.874.343\u003C\u002Ftd>\u003Ctd>2.839.186\u003C\u002Ftd>\u003Ctd>1%\u003C\u002Ftd>\u003Ctd>33.725.793\u003C\u002Ftd>\u003Ctd>33.448.763\u003C\u002Ftd>\u003Ctd>1%\u003C\u002Ftd>\u003C\u002Ftr>\u003Ctr>\u003Ctd>Aluguel complementar\u003C\u002Ftd>\u003Ctd>333.446\u003C\u002Ftd>\u003Ctd>321.061\u003C\u002Ftd>\u003Ctd>4%\u003C\u002Ftd>\u003Ctd>2.836.814\u003C\u002Ftd>\u003Ctd>2.431.106\u003C\u002Ftd>\u003Ctd>17%\u003C\u002Ftd>\u003C\u002Ftr>\u003Ctr>\u003Ctd>Aluguel quiosques\u002Fmídia\u002Feventos\u003C\u002Ftd>\u003Ctd>1.035.204\u003C\u002Ftd>\u003Ctd>724.267\u003C\u002Ftd>\u003Ctd>43%\u003C\u002Ftd>\u003Ctd>7.444.631\u003C\u002Ftd>\u003Ctd>6.867.342\u003C\u002Ftd>\u003Ctd>8%\u003C\u002Ftd>\u003C\u002Ftr>\u003Ctr>\u003Ctd>Outras receitas\u003C\u002Ftd>\u003Ctd>102.085\u003C\u002Ftd>\u003Ctd>73.419\u003C\u002Ftd>\u003Ctd>39%\u003C\u002Ftd>\u003Ctd>759.284\u003C\u002Ftd>\u003Ctd>1.029.432\u003C\u002Ftd>\u003Ctd>-26%\u003C\u002Ftd>\u003C\u002Ftr>\u003Ctr>\u003Ctd>Receitas totais\u003C\u002Ftd>\u003Ctd>4.345.078\u003C\u002Ftd>\u003Ctd>3.957.933\u003C\u002Ftd>\u003Ctd>10%\u003C\u002Ftd>\u003Ctd>44.766.521\u003C\u002Ftd>\u003Ctd>43.776.644\u003C\u002Ftd>\u003Ctd>2%\u003C\u002Ftd>\u003C\u002Ftr>\u003Ctr>\u003Ctd>Encargos de lojas vagas e contratuais\u003C\u002Ftd>\u003Ctd>(49.385)\u003C\u002Ftd>\u003Ctd>(45.290)\u003C\u002Ftd>\u003Ctd>9%\u003C\u002Ftd>\u003Ctd>(759.217)\u003C\u002Ftd>\u003Ctd>(1.064.319)\u003C\u002Ftd>\u003Ctd>-29%\u003C\u002Ftd>\u003C\u002Ftr>\u003Ctr>\u003Ctd>Outras despesas\u003C\u002Ftd>\u003Ctd>(545.728)\u003C\u002Ftd>\u003Ctd>(509.189)\u003C\u002Ftd>\u003Ctd>7%\u003C\u002Ftd>\u003Ctd>(6.055.975)\u003C\u002Ftd>\u003Ctd>(5.915.303)\u003C\u002Ftd>\u003Ctd>2%\u003C\u002Ftd>\u003C\u002Ftr>\u003Ctr>\u003Ctd>Despesas totais\u003C\u002Ftd>\u003Ctd>(595.112)\u003C\u002Ftd>\u003Ctd>(554.479)\u003C\u002Ftd>\u003Ctd>7%\u003C\u002Ftd>\u003Ctd>(6.815.192)\u003C\u002Ftd>\u003Ctd>(6.979.622)\u003C\u002Ftd>\u003Ctd>-2%\u003C\u002Ftd>\u003C\u002Ftr>\u003Ctr>\u003Ctd>Resultado sem estacionamento\u003C\u002Ftd>\u003Ctd>3.749.966\u003C\u002Ftd>\u003Ctd>3.403.454\u003C\u002Ftd>\u003Ctd>10%\u003C\u002Ftd>\u003Ctd>37.951.330\u003C\u002Ftd>\u003Ctd>36.797.022\u003C\u002Ftd>\u003Ctd>3%\u003C\u002Ftd>\u003C\u002Ftr>\u003Ctr>\u003Ctd>Resultado estacionamento\u003C\u002Ftd>\u003Ctd>1.216.206\u003C\u002Ftd>\u003Ctd>1.170.504\u003C\u002Ftd>\u003Ctd>4%\u003C\u002Ftd>\u003Ctd>13.139.601\u003C\u002Ftd>\u003Ctd>12.139.545\u003C\u002Ftd>\u003Ctd>8%\u003C\u002Ftd>\u003C\u002Ftr>\u003Ctr>\u003Ctd>Resultado operacional (NOI)\u003C\u002Ftd>\u003Ctd>4.966.172\u003C\u002Ftd>\u003Ctd>4.573.957\u003C\u002Ftd>\u003Ctd>9%\u003C\u002Ftd>\u003Ctd>51.090.931\u003C\u002Ftd>\u003Ctd>48.936.566\u003C\u002Ftd>\u003Ctd>4%\u003C\u002Ftd>\u003C\u002Ftr>\u003Ctr>\u003Ctd>Benfeitorias\u003C\u002Ftd>\u003Ctd>(392.840)\u003C\u002Ftd>\u003Ctd>(4.093)\u003C\u002Ftd>\u003Ctd>9498%\u003C\u002Ftd>\u003Ctd>(859.797)\u003C\u002Ftd>\u003Ctd>(1.094.650)\u003C\u002Ftd>\u003Ctd>-21%\u003C\u002Ftd>\u003C\u002Ftr>\u003Ctr>\u003Ctd>Resultado não operacional\u003C\u002Ftd>\u003Ctd>(5.327)\u003C\u002Ftd>\u003Ctd>8.871\u003C\u002Ftd>\u003Ctd>-\u003C\u002Ftd>\u003Ctd>(335.431)\u003C\u002Ftd>\u003Ctd>911.356\u003C\u002Ftd>\u003Ctd>-\u003C\u002Ftd>\u003C\u002Ftr>\u003Ctr>\u003Ctd>Fluxo de caixa total\u003C\u002Ftd>\u003Ctd>4.568.005\u003C\u002Ftd>\u003Ctd>4.578.735\u003C\u002Ftd>\u003Ctd>0%\u003C\u002Ftd>\u003Ctd>49.895.702\u003C\u002Ftd>\u003Ctd>48.753.272\u003C\u002Ftd>\u003Ctd>2%\u003C\u002Ftd>\u003C\u002Ftr>\u003C\u002Ftbody>\u003C\u002Ftable>\u003Cp>VENDAS (R$ MM)\u003C\u002Fp>\u003Cp>\u003Cimg alt=\"\" src=\"\u002Fstorage\u002Ffiis\u002Fdocumentos\u002F5472\u002Fpage_17_chart_6.jpg\">\u003C\u002Fp>\u003Cp>FLUXO DE VEÍCULOS (‘000)\u003C\u002Fp>\u003Cp>\u003Cimg alt=\"\" src=\"\u002Fstorage\u002Ffiis\u002Fdocumentos\u002F5472\u002Fpage_17_chart_8.jpg\">\u003C\u002Fp>\u003Cp>INADIMPLÊNCIA LÍQUIDA 12M\u003C\u002Fp>\u003Cp>\u003Cimg alt=\"\" src=\"\u002Fstorage\u002Ffiis\u002Fdocumentos\u002F5472\u002Fpage_17_chart_10.jpg\">\u003C\u002Fp>\u003Cp>VACÂNCIA (% ABL)\u003C\u002Fp>\u003Cp>\u003Cimg alt=\"\" src=\"\u002Fstorage\u002Ffiis\u002Fdocumentos\u002F5472\u002Fpage_17_chart_12.jpg\">\u003C\u002Fp>\u003Ch3>SHOPPING PENHA (10% DA CARTEIRA)\u003C\u002Fh3>\u003Cp>Situado na região central do bairro da Penha, o shopping tornou-se um dos pioneiros da zona leste de São Paulo e se consolidou como um importante centro de compras da região.\u003C\u002Fp>\u003Cp>Movimentações comerciais: sem alterações.\u003C\u002Fp>\u003Ctable>\u003Cthead>\u003Ctr>\u003Cth>PARTICIPAÇÃO\u003C\u002Fth>\u003Cth>ABL TOTAL\u003C\u002Fth>\u003Cth>OPERAÇÕES\u003C\u002Fth>\u003Cth>INAUGURAÇÃO\u003C\u002Fth>\u003Cth>OPERADOR\u003C\u002Fth>\u003C\u002Ftr>\u003C\u002Fthead>\u003Ctbody>\u003Ctr>\u003Ctd>87,6%\u003C\u002Ftd>\u003Ctd>29,8 mil m²\u003C\u002Ftd>\u003Ctd>167\u003C\u002Ftd>\u003Ctd>1992\u003C\u002Ftd>\u003Ctd>AD Shopping\u003C\u002Ftd>\u003C\u002Ftr>\u003C\u002Ftbody>\u003C\u002Ftable>\u003Cp>Principais Operações: Renner, C&A, Vivara, Life by Vivara, Centauro, Kalunga, Outback, Moviecom, Sonda, Dafyne Presentes e Smart Fit.\u003C\u002Fp>\u003Cp>Endereço: R. Dr. João Ribeiro, 304 – São Paulo, SP\u003C\u002Fp>\u003Cp>www.shoppingpenha.com.br\u003C\u002Fp>\u003Cp>\u003Cimg alt=\"\" src=\"\u002Fstorage\u002Ffiis\u002Fdocumentos\u002F5472\u002Fpage_18_image_10.jpg\">\u003C\u002Fp>\u003Cp>\u003Cimg alt=\"\" src=\"\u002Fstorage\u002Ffiis\u002Fdocumentos\u002F5472\u002Fpage_18_image_11.jpg\">\u003C\u002Fp>\u003Cp>\u003Cimg alt=\"\" src=\"\u002Fstorage\u002Ffiis\u002Fdocumentos\u002F5472\u002Fpage_18_image_12.jpg\">\u003C\u002Fp>\u003Cp>\u003Cimg alt=\"\" src=\"\u002Fstorage\u002Ffiis\u002Fdocumentos\u002F5472\u002Fpage_18_image_13.jpg\">\u003C\u002Fp>\u003Cp>Fotos: Maurício Moreno\u003C\u002Fp>\u003Cp>\u003Cimg alt=\"\" src=\"\u002Fstorage\u002Ffiis\u002Fdocumentos\u002F5472\u002Fpage_18_image_15.jpg\">\u003C\u002Fp>\u003Cp>SHOPPING PENHA (10% DA CARTEIRA)\u003C\u002Fp>\u003Ctable>\u003Cthead>\u003Ctr>\u003Cth>Fluxo de Caixa 100% shopping\u003C\u002Fth>\u003Cth>Realizadodez-25\u003C\u002Fth>\u003Cth>Realizadodez-24\u003C\u002Fth>\u003Cth>Variação vs. dez-24\u003C\u002Fth>\u003Cth>Acum.dez-25\u003C\u002Fth>\u003Cth>Acum.dez-24\u003C\u002Fth>\u003Cth>Variação acum. a\u002Fa\u003C\u002Fth>\u003C\u002Ftr>\u003C\u002Fthead>\u003Ctbody>\u003Ctr>\u003Ctd>Aluguel mínimo\u003C\u002Ftd>\u003Ctd>2.028.294\u003C\u002Ftd>\u003Ctd>2.044.643\u003C\u002Ftd>\u003Ctd>-1%\u003C\u002Ftd>\u003Ctd>25.732.694\u003C\u002Ftd>\u003Ctd>23.649.278\u003C\u002Ftd>\u003Ctd>9%\u003C\u002Ftd>\u003C\u002Ftr>\u003Ctr>\u003Ctd>Aluguel complementar\u003C\u002Ftd>\u003Ctd>219.332\u003C\u002Ftd>\u003Ctd>208.859\u003C\u002Ftd>\u003Ctd>5%\u003C\u002Ftd>\u003Ctd>2.170.068\u003C\u002Ftd>\u003Ctd>2.393.817\u003C\u002Ftd>\u003Ctd>-9%\u003C\u002Ftd>\u003C\u002Ftr>\u003Ctr>\u003Ctd>Aluguel quiosques\u002Fmídia\u002Feventos\u003C\u002Ftd>\u003Ctd>669.728\u003C\u002Ftd>\u003Ctd>657.874\u003C\u002Ftd>\u003Ctd>2%\u003C\u002Ftd>\u003Ctd>6.094.514\u003C\u002Ftd>\u003Ctd>6.153.491\u003C\u002Ftd>\u003Ctd>-1%\u003C\u002Ftd>\u003C\u002Ftr>\u003Ctr>\u003Ctd>Outras receitas\u003C\u002Ftd>\u003Ctd>1.028.885\u003C\u002Ftd>\u003Ctd>12.589\u003C\u002Ftd>\u003Ctd>8073%\u003C\u002Ftd>\u003Ctd>3.325.775\u003C\u002Ftd>\u003Ctd>390.248\u003C\u002Ftd>\u003Ctd>752%\u003C\u002Ftd>\u003C\u002Ftr>\u003Ctr>\u003Ctd>Receitas totais\u003C\u002Ftd>\u003Ctd>3.946.238\u003C\u002Ftd>\u003Ctd>2.923.966\u003C\u002Ftd>\u003Ctd>35%\u003C\u002Ftd>\u003Ctd>37.323.051\u003C\u002Ftd>\u003Ctd>32.586.834\u003C\u002Ftd>\u003Ctd>15%\u003C\u002Ftd>\u003C\u002Ftr>\u003Ctr>\u003Ctd>Encargos de lojas vagas e contratuais\u003C\u002Ftd>\u003Ctd>(315.391)\u003C\u002Ftd>\u003Ctd>(255.164)\u003C\u002Ftd>\u003Ctd>24%\u003C\u002Ftd>\u003Ctd>(3.420.129)\u003C\u002Ftd>\u003Ctd>(3.425.423)\u003C\u002Ftd>\u003Ctd>0%\u003C\u002Ftd>\u003C\u002Ftr>\u003Ctr>\u003Ctd>Outras despesas\u003C\u002Ftd>\u003Ctd>(401.377)\u003C\u002Ftd>\u003Ctd>(262.739)\u003C\u002Ftd>\u003Ctd>53%\u003C\u002Ftd>\u003Ctd>(3.177.930)\u003C\u002Ftd>\u003Ctd>(3.202.256)\u003C\u002Ftd>\u003Ctd>-1%\u003C\u002Ftd>\u003C\u002Ftr>\u003Ctr>\u003Ctd>Despesas totais\u003C\u002Ftd>\u003Ctd>(716.769)\u003C\u002Ftd>\u003Ctd>(517.903)\u003C\u002Ftd>\u003Ctd>38%\u003C\u002Ftd>\u003Ctd>(6.598.059)\u003C\u002Ftd>\u003Ctd>(6.627.679)\u003C\u002Ftd>\u003Ctd>0%\u003C\u002Ftd>\u003C\u002Ftr>\u003Ctr>\u003Ctd>Resultado sem estacionamento\u003C\u002Ftd>\u003Ctd>3.229.469\u003C\u002Ftd>\u003Ctd>2.406.063\u003C\u002Ftd>\u003Ctd>34%\u003C\u002Ftd>\u003Ctd>30.724.992\u003C\u002Ftd>\u003Ctd>25.959.155\u003C\u002Ftd>\u003Ctd>18%\u003C\u002Ftd>\u003C\u002Ftr>\u003Ctr>\u003Ctd>Resultado estacionamento\u003C\u002Ftd>\u003Ctd>579.914\u003C\u002Ftd>\u003Ctd>492.834\u003C\u002Ftd>\u003Ctd>18%\u003C\u002Ftd>\u003Ctd>6.386.549\u003C\u002Ftd>\u003Ctd>6.163.814\u003C\u002Ftd>\u003Ctd>4%\u003C\u002Ftd>\u003C\u002Ftr>\u003C\u002Ftbody>\u003C\u002Ftable>\u003Ctable>\u003Cthead>\u003Ctr>\u003Cth>Resultado operacional (NOI)\u003C\u002Fth>\u003Cth>3.809.383\u003C\u002Fth>\u003Cth>2.898.898\u003C\u002Fth>\u003Cth>31%\u003C\u002Fth>\u003Cth>37.111.542\u003C\u002Fth>\u003Cth>32.122.969\u003C\u002Fth>\u003Cth>16%\u003C\u002Fth>\u003C\u002Ftr>\u003C\u002Fthead>\u003Ctbody>\u003Ctr>\u003Ctd>Benfeitorias\u003C\u002Ftd>\u003Ctd>(225.716)\u003C\u002Ftd>\u003Ctd>(1.399.848)\u003C\u002Ftd>\u003Ctd>-84%\u003C\u002Ftd>\u003Ctd>(6.932.625)\u003C\u002Ftd>\u003Ctd>(6.344.391)\u003C\u002Ftd>\u003Ctd>9%\u003C\u002Ftd>\u003C\u002Ftr>\u003Ctr>\u003Ctd>Resultado não operacional\u003C\u002Ftd>\u003Ctd>-\u003C\u002Ftd>\u003Ctd>(2.200)\u003C\u002Ftd>\u003Ctd>-\u003C\u002Ftd>\u003Ctd>(22.000)\u003C\u002Ftd>\u003Ctd>(318.666)\u003C\u002Ftd>\u003Ctd>-93%\u003C\u002Ftd>\u003C\u002Ftr>\u003Ctr>\u003Ctd>Fluxo de caixa total\u003C\u002Ftd>\u003Ctd>3.583.667\u003C\u002Ftd>\u003Ctd>1.496.850\u003C\u002Ftd>\u003Ctd>139%\u003C\u002Ftd>\u003Ctd>30.156.917\u003C\u002Ftd>\u003Ctd>25.459.912\u003C\u002Ftd>\u003Ctd>18%\u003C\u002Ftd>\u003C\u002Ftr>\u003C\u002Ftbody>\u003C\u002Ftable>\u003Cp>VENDAS (R$ MM)\u003C\u002Fp>\u003Cp>\u003Cimg alt=\"\" src=\"\u002Fstorage\u002Ffiis\u002Fdocumentos\u002F5472\u002Fpage_19_chart_7.jpg\">\u003C\u002Fp>\u003Cp>FLUXO DE VEÍCULOS (‘000)\u003C\u002Fp>\u003Cp>\u003Cimg alt=\"\" src=\"\u002Fstorage\u002Ffiis\u002Fdocumentos\u002F5472\u002Fpage_19_chart_9.jpg\">\u003C\u002Fp>\u003Cp>INADIMPLÊNCIA LÍQUIDA 12M\u003C\u002Fp>\u003Cp>\u003Cimg alt=\"\" src=\"\u002Fstorage\u002Ffiis\u002Fdocumentos\u002F5472\u002Fpage_19_chart_11.jpg\">\u003C\u002Fp>\u003Cp>VACÂNCIA (% ABL)\u003C\u002Fp>\u003Cp>\u003Cimg alt=\"\" src=\"\u002Fstorage\u002Ffiis\u002Fdocumentos\u002F5472\u002Fpage_19_chart_13.jpg\">\u003C\u002Fp>\u003Ch3>CAPIM DOURADO SHOPPING (7% DA CARTEIRA)\u003C\u002Fh3>\u003Cp>Localizado em Palmas, no estado do Tocantins, o Capim Dourado é o maior centro de compras da cidade, a capital com o segundo maior crescimento populacional entre 2010 e 2022, conforme medido pelo IBGE. Adicionalmente, o estado do Tocantins vem se destacando nos últimos anos como uma nova fronteira agrícola do país.\u003C\u002Fp>\u003Cp>Movimentações comerciais: saída da Uza Shoes (58 m²).\u003C\u002Fp>\u003Ctable>\u003Cthead>\u003Ctr>\u003Cth>PARTICIPAÇÃO\u003C\u002Fth>\u003Cth>ABL TOTAL\u003C\u002Fth>\u003Cth>OPERAÇÕES\u003C\u002Fth>\u003Cth>INAUGURAÇÃO\u003C\u002Fth>\u003Cth>OPERADOR\u003C\u002Fth>\u003C\u002Ftr>\u003C\u002Fthead>\u003Ctbody>\u003Ctr>\u003Ctd>60,0%\u003C\u002Ftd>\u003Ctd>38,8 mil m²\u003C\u002Ftd>\u003Ctd>153\u003C\u002Ftd>\u003Ctd>2010\u003C\u002Ftd>\u003Ctd>Soul Malls\u003C\u002Ftd>\u003C\u002Ftr>\u003C\u002Ftbody>\u003C\u002Ftable>\u003Cp>Principais Operações: Renner, Riachuelo, C&A, Centauro, Hering Megastore, Madero, MoroFit, Cinemark, Super Big, ZigZag Play e Wow Park.\u003C\u002Fp>\u003Cp>Endereço: Q. 107 Norte Avenida NS 5, s\u002Fn - Plano Diretor Norte, Palmas - TO\u003C\u002Fp>\u003Cp>capimdouradosc.com.br\u003C\u002Fp>\u003Cp>\u003Cimg alt=\"\" src=\"\u002Fstorage\u002Ffiis\u002Fdocumentos\u002F5472\u002Fpage_20_image_10.jpg\">\u003C\u002Fp>\u003Cp>\u003Cimg alt=\"\" src=\"\u002Fstorage\u002Ffiis\u002Fdocumentos\u002F5472\u002Fpage_20_image_11.jpg\">\u003C\u002Fp>\u003Cp>\u003Cimg alt=\"\" src=\"\u002Fstorage\u002Ffiis\u002Fdocumentos\u002F5472\u002Fpage_20_image_12.jpg\">\u003C\u002Fp>\u003Cp>\u003Cimg alt=\"\" src=\"\u002Fstorage\u002Ffiis\u002Fdocumentos\u002F5472\u002Fpage_20_image_13.jpg\">\u003C\u002Fp>\u003Cp>\u003Cimg alt=\"\" src=\"\u002Fstorage\u002Ffiis\u002Fdocumentos\u002F5472\u002Fpage_20_image_14.jpg\">\u003C\u002Fp>\u003Ch3>CAPIM DOURADO SHOPPING (7% DA CARTEIRA)\u003C\u002Fh3>\u003Ctable>\u003Cthead>\u003Ctr>\u003Cth>Fluxo de Caixa 100% shopping\u003C\u002Fth>\u003Cth>Realizadodez-25\u003C\u002Fth>\u003Cth>Realizadodez-24\u003C\u002Fth>\u003Cth>Variação vs. dez-24\u003C\u002Fth>\u003Cth>Acum.dez-25\u003C\u002Fth>\u003Cth>Acum.dez-24\u003C\u002Fth>\u003Cth>Variação acum. a\u002Fa\u003C\u002Fth>\u003C\u002Ftr>\u003C\u002Fthead>\u003Ctbody>\u003Ctr>\u003Ctd>Aluguel mínimo\u003C\u002Ftd>\u003Ctd>1.796.383\u003C\u002Ftd>\u003Ctd>1.568.338\u003C\u002Ftd>\u003Ctd>15%\u003C\u002Ftd>\u003Ctd>19.710.143\u003C\u002Ftd>\u003Ctd>17.948.035\u003C\u002Ftd>\u003Ctd>10%\u003C\u002Ftd>\u003C\u002Ftr>\u003Ctr>\u003Ctd>Aluguel complementar\u003C\u002Ftd>\u003Ctd>611.786\u003C\u002Ftd>\u003Ctd>785.815\u003C\u002Ftd>\u003Ctd>-22%\u003C\u002Ftd>\u003Ctd>6.158.377\u003C\u002Ftd>\u003Ctd>6.058.738\u003C\u002Ftd>\u003Ctd>2%\u003C\u002Ftd>\u003C\u002Ftr>\u003Ctr>\u003Ctd>Aluguel quiosques\u002Fmídia\u002Feventos\u003C\u002Ftd>\u003Ctd>920.469\u003C\u002Ftd>\u003Ctd>682.664\u003C\u002Ftd>\u003Ctd>35%\u003C\u002Ftd>\u003Ctd>7.000.834\u003C\u002Ftd>\u003Ctd>5.965.535\u003C\u002Ftd>\u003Ctd>17%\u003C\u002Ftd>\u003C\u002Ftr>\u003Ctr>\u003Ctd>Outras receitas\u003C\u002Ftd>\u003Ctd>109.848\u003C\u002Ftd>\u003Ctd>75.509\u003C\u002Ftd>\u003Ctd>45%\u003C\u002Ftd>\u003Ctd>891.526\u003C\u002Ftd>\u003Ctd>943.426\u003C\u002Ftd>\u003Ctd>-6%\u003C\u002Ftd>\u003C\u002Ftr>\u003Ctr>\u003Ctd>Receitas totais\u003C\u002Ftd>\u003Ctd>3.438.485\u003C\u002Ftd>\u003Ctd>3.112.326\u003C\u002Ftd>\u003Ctd>10%\u003C\u002Ftd>\u003Ctd>33.760.880\u003C\u002Ftd>\u003Ctd>30.915.734\u003C\u002Ftd>\u003Ctd>9%\u003C\u002Ftd>\u003C\u002Ftr>\u003Ctr>\u003Ctd>Encargos de lojas vagas e contratuais\u003C\u002Ftd>\u003Ctd>(48.895)\u003C\u002Ftd>\u003Ctd>(47.716)\u003C\u002Ftd>\u003Ctd>2%\u003C\u002Ftd>\u003Ctd>(605.323)\u003C\u002Ftd>\u003Ctd>(507.814)\u003C\u002Ftd>\u003Ctd>19%\u003C\u002Ftd>\u003C\u002Ftr>\u003Ctr>\u003Ctd>Outras despesas\u003C\u002Ftd>\u003Ctd>(237.838)\u003C\u002Ftd>\u003Ctd>(258.329)\u003C\u002Ftd>\u003Ctd>-8%\u003C\u002Ftd>\u003Ctd>(3.120.584)\u003C\u002Ftd>\u003Ctd>(3.490.016)\u003C\u002Ftd>\u003Ctd>-11%\u003C\u002Ftd>\u003C\u002Ftr>\u003Ctr>\u003Ctd>Despesas totais\u003C\u002Ftd>\u003Ctd>(286.733)\u003C\u002Ftd>\u003Ctd>(306.045)\u003C\u002Ftd>\u003Ctd>-6%\u003C\u002Ftd>\u003Ctd>(3.725.906)\u003C\u002Ftd>\u003Ctd>(3.997.830)\u003C\u002Ftd>\u003Ctd>-7%\u003C\u002Ftd>\u003C\u002Ftr>\u003Ctr>\u003Ctd>Resultado sem estacionamento\u003C\u002Ftd>\u003Ctd>3.151.753\u003C\u002Ftd>\u003Ctd>2.806.281\u003C\u002Ftd>\u003Ctd>12%\u003C\u002Ftd>\u003Ctd>30.034.974\u003C\u002Ftd>\u003Ctd>26.917.904\u003C\u002Ftd>\u003Ctd>12%\u003C\u002Ftd>\u003C\u002Ftr>\u003Ctr>\u003Ctd>Resultado estacionamento\u003C\u002Ftd>\u003Ctd>749.043\u003C\u002Ftd>\u003Ctd>705.223\u003C\u002Ftd>\u003Ctd>6%\u003C\u002Ftd>\u003Ctd>6.693.385\u003C\u002Ftd>\u003Ctd>5.729.297\u003C\u002Ftd>\u003Ctd>17%\u003C\u002Ftd>\u003C\u002Ftr>\u003Ctr>\u003Ctd>Resultado operacional (NOI)\u003C\u002Ftd>\u003Ctd>3.900.796\u003C\u002Ftd>\u003Ctd>3.511.504\u003C\u002Ftd>\u003Ctd>11%\u003C\u002Ftd>\u003Ctd>36.728.360\u003C\u002Ftd>\u003Ctd>32.647.201\u003C\u002Ftd>\u003Ctd>13%\u003C\u002Ftd>\u003C\u002Ftr>\u003Ctr>\u003Ctd>Benfeitorias\u003C\u002Ftd>\u003Ctd>-\u003C\u002Ftd>\u003Ctd>(107.955)\u003C\u002Ftd>\u003Ctd>-100%\u003C\u002Ftd>\u003Ctd>(1.050.715)\u003C\u002Ftd>\u003Ctd>(148.195)\u003C\u002Ftd>\u003Ctd>609%\u003C\u002Ftd>\u003C\u002Ftr>\u003Ctr>\u003Ctd>Resultado não operacional\u003C\u002Ftd>\u003Ctd>-\u003C\u002Ftd>\u003Ctd>-\u003C\u002Ftd>\u003Ctd>-\u003C\u002Ftd>\u003Ctd>-\u003C\u002Ftd>\u003Ctd>-\u003C\u002Ftd>\u003Ctd>-\u003C\u002Ftd>\u003C\u002Ftr>\u003Ctr>\u003Ctd>Fluxo de caixa total\u003C\u002Ftd>\u003Ctd>3.900.796\u003C\u002Ftd>\u003Ctd>3.403.549\u003C\u002Ftd>\u003Ctd>15%\u003C\u002Ftd>\u003Ctd>35.677.645\u003C\u002Ftd>\u003Ctd>32.499.006\u003C\u002Ftd>\u003Ctd>10%\u003C\u002Ftd>\u003C\u002Ftr>\u003C\u002Ftbody>\u003C\u002Ftable>\u003Cp>VENDAS (R$ MM)\u003C\u002Fp>\u003Cp>\u003Cimg alt=\"\" src=\"\u002Fstorage\u002Ffiis\u002Fdocumentos\u002F5472\u002Fpage_21_chart_6.jpg\">\u003C\u002Fp>\u003Cp>FLUXO DE VEÍCULOS (‘000)\u003C\u002Fp>\u003Cp>\u003Cimg alt=\"\" src=\"\u002Fstorage\u002Ffiis\u002Fdocumentos\u002F5472\u002Fpage_21_chart_8.jpg\">\u003C\u002Fp>\u003Cp>INADIMPLÊNCIA LÍQUIDA 12M\u003C\u002Fp>\u003Cp>\u003Cimg alt=\"\" src=\"\u002Fstorage\u002Ffiis\u002Fdocumentos\u002F5472\u002Fpage_21_chart_10.jpg\">\u003C\u002Fp>\u003Cp>VCÂNCIA (% ABL)\u003C\u002Fp>\u003Cp>\u003Cimg alt=\"\" src=\"\u002Fstorage\u002Ffiis\u002Fdocumentos\u002F5472\u002Fpage_21_chart_12.jpg\">\u003C\u002Fp>\u003Ch3>MOOCA PLAZA SHOPPING (6% DA CARTEIRA)\u003C\u002Fh3>\u003Cp>Localizado em um dos mais tradicionais bairros de São Paulo, o empreendimento é um dos principais centros de compras da zona leste da cidade e conta com um mix de lojas e serviços completo, além de oferecer diversas opções de restaurantes e lazer.\u003C\u002Fp>\u003Cp>Movimentações comerciais: entrada do restaurante Don e Lia (326 m²).\u003C\u002Fp>\u003Ctable>\u003Cthead>\u003Ctr>\u003Cth>PARTICIPAÇÃO\u003C\u002Fth>\u003Cth>ABL TOTAL\u003C\u002Fth>\u003Cth>OPERAÇÕES\u003C\u002Fth>\u003Cth>INAUGURAÇÃO\u003C\u002Fth>\u003Cth>OPERADOR\u003C\u002Fth>\u003C\u002Ftr>\u003C\u002Fthead>\u003Ctbody>\u003Ctr>\u003Ctd>20,0%\u003C\u002Ftd>\u003Ctd>42,1 mil m²\u003C\u002Ftd>\u003Ctd>220\u003C\u002Ftd>\u003Ctd>2011\u003C\u002Ftd>\u003Ctd>ALLOS\u003C\u002Ftd>\u003C\u002Ftr>\u003C\u002Ftbody>\u003C\u002Ftable>\u003Cp>Principais Operações: Camarada Camarão, C&A, Centauro, Cinemark, Companhia Atlética, Hocca Bar, Kalunga, Lacoste, Le Lis Blanc, Madero, Nagairô Sushi, Outback, Pecorino, Petz, PEP da Polícia Federal, Riachuelo, Renner, Sephora, Vivara, Zara.\u003C\u002Fp>\u003Cp>Endereço: R. Cap. Pacheco e Chaves, 313 – São Paulo, SP\u003C\u002Fp>\u003Cp>www.moocaplaza.com.br\u003C\u002Fp>\u003Cp>\u003Cimg alt=\"\" src=\"\u002Fstorage\u002Ffiis\u002Fdocumentos\u002F5472\u002Fpage_22_image_10.jpg\">\u003C\u002Fp>\u003Cp>\u003Cimg alt=\"\" src=\"\u002Fstorage\u002Ffiis\u002Fdocumentos\u002F5472\u002Fpage_22_image_11.jpg\">\u003C\u002Fp>\u003Cp>\u003Cimg alt=\"\" src=\"\u002Fstorage\u002Ffiis\u002Fdocumentos\u002F5472\u002Fpage_22_image_12.jpg\">\u003C\u002Fp>\u003Cp>\u003Cimg alt=\"\" src=\"\u002Fstorage\u002Ffiis\u002Fdocumentos\u002F5472\u002Fpage_22_image_13.jpg\">\u003C\u002Fp>\u003Cp>Fotos: Maurício Moreno.\u003C\u002Fp>\u003Cp>\u003Cimg alt=\"\" src=\"\u002Fstorage\u002Ffiis\u002Fdocumentos\u002F5472\u002Fpage_22_image_15.jpg\">\u003C\u002Fp>\u003Ch3>MOOCA PLAZA SHOPPING (6% DA CARTEIRA)\u003C\u002Fh3>\u003Ctable>\u003Ctbody>\u003Ctr>\u003Ctd rowspan=\"2\">Fluxo de Caixa 100% shopping\u003C\u002Ftd>\u003Ctd>Realizado\u003C\u002Ftd>\u003Ctd>Realizado\u003C\u002Ftd>\u003Ctd>Variação\u003C\u002Ftd>\u003Ctd>Acum.\u003C\u002Ftd>\u003Ctd>Acum.\u003C\u002Ftd>\u003Ctd>Variação\u003C\u002Ftd>\u003C\u002Ftr>\u003Ctr>\u003Ctd>dez-25\u003C\u002Ftd>\u003Ctd>dez-24\u003C\u002Ftd>\u003Ctd>vs. dez-24\u003C\u002Ftd>\u003Ctd>dez-25\u003C\u002Ftd>\u003Ctd>dez-24\u003C\u002Ftd>\u003Ctd>acum. a\u002Fa\u003C\u002Ftd>\u003C\u002Ftr>\u003Ctr>\u003Ctd>Aluguel mínimo\u003C\u002Ftd>\u003Ctd>5.140.963\u003C\u002Ftd>\u003Ctd>4.857.448\u003C\u002Ftd>\u003Ctd>6%\u003C\u002Ftd>\u003Ctd>60.652.028\u003C\u002Ftd>\u003Ctd>58.274.555\u003C\u002Ftd>\u003Ctd>4%\u003C\u002Ftd>\u003C\u002Ftr>\u003Ctr>\u003Ctd>Aluguel complementar\u003C\u002Ftd>\u003Ctd>710.997\u003C\u002Ftd>\u003Ctd>736.301\u003C\u002Ftd>\u003Ctd>-3%\u003C\u002Ftd>\u003Ctd>6.052.658\u003C\u002Ftd>\u003Ctd>5.655.825\u003C\u002Ftd>\u003Ctd>7%\u003C\u002Ftd>\u003C\u002Ftr>\u003Ctr>\u003Ctd>Aluguel quiosques\u002Fmídia\u002Feventos\u003C\u002Ftd>\u003Ctd>1.654.847\u003C\u002Ftd>\u003Ctd>1.263.314\u003C\u002Ftd>\u003Ctd>31%\u003C\u002Ftd>\u003Ctd>12.604.081\u003C\u002Ftd>\u003Ctd>10.992.723\u003C\u002Ftd>\u003Ctd>15%\u003C\u002Ftd>\u003C\u002Ftr>\u003Ctr>\u003Ctd>Outras receitas\u003C\u002Ftd>\u003Ctd>763.566\u003C\u002Ftd>\u003Ctd>316.710\u003C\u002Ftd>\u003Ctd>141%\u003C\u002Ftd>\u003Ctd>3.792.740\u003C\u002Ftd>\u003Ctd>3.228.111\u003C\u002Ftd>\u003Ctd>17%\u003C\u002Ftd>\u003C\u002Ftr>\u003Ctr>\u003Ctd>Receitas totais\u003C\u002Ftd>\u003Ctd>8.270.372\u003C\u002Ftd>\u003Ctd>7.173.773\u003C\u002Ftd>\u003Ctd>15%\u003C\u002Ftd>\u003Ctd>83.101.507\u003C\u002Ftd>\u003Ctd>78.151.213\u003C\u002Ftd>\u003Ctd>6%\u003C\u002Ftd>\u003C\u002Ftr>\u003Ctr>\u003Ctd>Encargos de lojas vagas e contratuais\u003C\u002Ftd>\u003Ctd>(314.251)\u003C\u002Ftd>\u003Ctd>(56.662)\u003C\u002Ftd>\u003Ctd>455%\u003C\u002Ftd>\u003Ctd>(1.153.877)\u003C\u002Ftd>\u003Ctd>(1.122.636)\u003C\u002Ftd>\u003Ctd>3%\u003C\u002Ftd>\u003C\u002Ftr>\u003Ctr>\u003Ctd>Outras despesas\u003C\u002Ftd>\u003Ctd>(1.777.151)\u003C\u002Ftd>\u003Ctd>(1.508.847)\u003C\u002Ftd>\u003Ctd>18%\u003C\u002Ftd>\u003Ctd>(19.275.197)\u003C\u002Ftd>\u003Ctd>(17.636.191)\u003C\u002Ftd>\u003Ctd>9%\u003C\u002Ftd>\u003C\u002Ftr>\u003Ctr>\u003Ctd>Despesas totais\u003C\u002Ftd>\u003Ctd>(2.091.402)\u003C\u002Ftd>\u003Ctd>(1.565.509)\u003C\u002Ftd>\u003Ctd>34%\u003C\u002Ftd>\u003Ctd>(20.429.075)\u003C\u002Ftd>\u003Ctd>(18.758.828)\u003C\u002Ftd>\u003Ctd>9%\u003C\u002Ftd>\u003C\u002Ftr>\u003Ctr>\u003Ctd>Resultado sem estacionamento\u003C\u002Ftd>\u003Ctd>6.178.971\u003C\u002Ftd>\u003Ctd>5.608.265\u003C\u002Ftd>\u003Ctd>10%\u003C\u002Ftd>\u003Ctd>62.672.432\u003C\u002Ftd>\u003Ctd>59.392.385\u003C\u002Ftd>\u003Ctd>6%\u003C\u002Ftd>\u003C\u002Ftr>\u003Ctr>\u003Ctd>Resultado estacionamento\u003C\u002Ftd>\u003Ctd>2.367.387\u003C\u002Ftd>\u003Ctd>1.887.945\u003C\u002Ftd>\u003Ctd>25%\u003C\u002Ftd>\u003Ctd>23.967.903\u003C\u002Ftd>\u003Ctd>21.939.996\u003C\u002Ftd>\u003Ctd>9%\u003C\u002Ftd>\u003C\u002Ftr>\u003C\u002Ftbody>\u003C\u002Ftable>\u003Ctable>\u003Cthead>\u003Ctr>\u003Cth>Resultado operacional (NOI)\u003C\u002Fth>\u003Cth>8.546.357\u003C\u002Fth>\u003Cth>7.496.210\u003C\u002Fth>\u003Cth>14%\u003C\u002Fth>\u003Cth>86.640.335\u003C\u002Fth>\u003Cth>81.332.381\u003C\u002Fth>\u003Cth>7%\u003C\u002Fth>\u003C\u002Ftr>\u003C\u002Fthead>\u003Ctbody>\u003Ctr>\u003Ctd>Benfeitorias\u003C\u002Ftd>\u003Ctd>(2.031.544)\u003C\u002Ftd>\u003Ctd>(442.383)\u003C\u002Ftd>\u003Ctd>359%\u003C\u002Ftd>\u003Ctd>(14.234.790)\u003C\u002Ftd>\u003Ctd>(4.824.822)\u003C\u002Ftd>\u003Ctd>195%\u003C\u002Ftd>\u003C\u002Ftr>\u003Ctr>\u003Ctd>Resultado não operacional\u003C\u002Ftd>\u003Ctd>97.312\u003C\u002Ftd>\u003Ctd>(79.868)\u003C\u002Ftd>\u003Ctd>-\u003C\u002Ftd>\u003Ctd>208.684\u003C\u002Ftd>\u003Ctd>46.379\u003C\u002Ftd>\u003Ctd>350%\u003C\u002Ftd>\u003C\u002Ftr>\u003Ctr>\u003Ctd>Fluxo de caixa total\u003C\u002Ftd>\u003Ctd>6.612.125\u003C\u002Ftd>\u003Ctd>6.973.958\u003C\u002Ftd>\u003Ctd>-5%\u003C\u002Ftd>\u003Ctd>72.614.229\u003C\u002Ftd>\u003Ctd>76.553.938\u003C\u002Ftd>\u003Ctd>-5%\u003C\u002Ftd>\u003C\u002Ftr>\u003C\u002Ftbody>\u003C\u002Ftable>\u003Cp>VENDAS (R$ MM)\u003C\u002Fp>\u003Cp>\u003Cimg alt=\"\" src=\"\u002Fstorage\u002Ffiis\u002Fdocumentos\u002F5472\u002Fpage_23_chart_7.jpg\">\u003C\u002Fp>\u003Cp>FLUXO DE VEÍCULOS (‘000)\u003C\u002Fp>\u003Cp>\u003Cimg alt=\"\" src=\"\u002Fstorage\u002Ffiis\u002Fdocumentos\u002F5472\u002Fpage_23_chart_9.jpg\">\u003C\u002Fp>\u003Cp>INADIMPLÊNCIA LÍQUIDA 12M\u003C\u002Fp>\u003Cp>\u003Cimg alt=\"\" src=\"\u002Fstorage\u002Ffiis\u002Fdocumentos\u002F5472\u002Fpage_23_chart_11.jpg\">\u003C\u002Fp>\u003Cp>VACÂNCIA (% ABL)\u003C\u002Fp>\u003Cp>\u003Cimg alt=\"\" src=\"\u002Fstorage\u002Ffiis\u002Fdocumentos\u002F5472\u002Fpage_23_chart_13.jpg\">\u003C\u002Fp>\u003Ch3>SHOPPING WEST PLAZA (6% da carteira – 5% via imóvel e 1% via cotas do FII WPLZ11)\u003C\u002Fh3>\u003Cp>Localizado na zona oeste de São Paulo, o Shopping West Plaza foi inaugurado em 1991 e é hoje um dos centros comerciais mais importantes da região. Além de ser referência em compras com modernas lojas, o empreendimento comercial ganhou novo posicionamento e agora também oferece um refinado polo gastronômico, serviços diferenciados, lazer e o melhor do entretenimento.\u003C\u002Fp>\u003Cp>O retrofit da praça de alimentação foi finalizado no primeiro semestre de 2025. O projeto trouxe como principal novidade a abertura de uma grande janela que traz iluminação natural para o ambiente e uma ampla vista da região onde o Shopping está inserido. Esta área contempla um mobiliário mais descontraído e confortável, bem como o novo acesso do cinema e 200 novos assentos.\u003C\u002Fp>\u003Cp>Além de diversas outras melhorias que estão sendo realizadas no empreendimento, como troca de escadas rolantes, retrofit de elevadores, o próximo projeto está relacionado à fachada e a área externa do empreendimento, área arborizada ao ar livre de domínio público que engloba o shopping.\u003C\u002Fp>\u003Cp>Adicionalmente, destacamos que foi iniciada a operação do Mané Mercado São Paulo com um evento de abertura para convidados, influenciadores, jornalistas e operadores, atingindo um engajamento de mais de 105 mil visualizações nas redes sociais em menos de 24 horas. Conforme divulgado, a unidade paulista nasce com a expectativa de atrair aproximadamente 1 milhão de visitantes por ano e com a meta de faturar cerca de R$ 60 milhões no primeiro ano de operação.\u003C\u002Fp>\u003Cp>Movimentações comerciais: saída da Now Nutrição Esportiva (35 m²).\u003C\u002Fp>\u003Cp>PARTICIPAÇÃO ABL TOTAL OPERAÇÕES INAUGURAÇÃO OPERADOR \u003Cstrong>89,1% 35,0 mil m² 165 1991 Soul Malls\u003C\u002Fstrong>\u003C\u002Fp>\u003Cp>\u003Cstrong>Principais Operações:\u003C\u002Fstrong> Dafyne, Daiso, Renner, Magazine Luiza, Bio Ritmo, Madero, Mané Mercado, Outback, Pecorino, Nagairô, Calle54, Jeronimo, Mega Cacau Show, Johny Rockets, Dickey’s, Cinemark, Game Station, Villa Bowling e Cema Medicina Especializada.\u003C\u002Fp>\u003Cp>Endereço: Av. Francisco Matarazzo – São Paulo, SP\u003C\u002Fp>\u003Cp>westplaza.com.br\u003C\u002Fp>\u003Cp>\u003Cimg alt=\"\" src=\"\u002Fstorage\u002Ffiis\u002Fdocumentos\u002F5472\u002Fpage_24_image_13.jpg\">\u003C\u002Fp>\u003Cp>\u003Cimg alt=\"\" src=\"\u002Fstorage\u002Ffiis\u002Fdocumentos\u002F5472\u002Fpage_24_image_14.jpg\">\u003C\u002Fp>\u003Cp>\u003Cimg alt=\"\" src=\"\u002Fstorage\u002Ffiis\u002Fdocumentos\u002F5472\u002Fpage_24_image_15.jpg\">\u003C\u002Fp>\u003Cp>\u003Cimg alt=\"\" src=\"\u002Fstorage\u002Ffiis\u002Fdocumentos\u002F5472\u002Fpage_24_image_16.jpg\">\u003C\u002Fp>\u003Cp>Fotos: Retrofit da praça de alimentação finalizado (última fileira).\u003C\u002Fp>\u003Cp>\u003Cimg alt=\"\" src=\"\u002Fstorage\u002Ffiis\u002Fdocumentos\u002F5472\u002Fpage_24_image_18.jpg\">\u003C\u002Fp>\u003Cp>SHOPPING WEST PLAZA (6% da carteira – 5% via imóvel e 1% via cotas do FII WPLZ11)\u003C\u002Fp>\u003Ctable>\u003Cthead>\u003Ctr>\u003Cth>Fluxo de Caixa 100% shopping\u003C\u002Fth>\u003Cth>Realizadodez-25\u003C\u002Fth>\u003Cth>Realizadodez-24\u003C\u002Fth>\u003Cth>Variação vs. dez-24\u003C\u002Fth>\u003Cth>Acum.dez-25\u003C\u002Fth>\u003Cth>Acum.dez-24\u003C\u002Fth>\u003Cth>Variação acum. a\u002Fa\u003C\u002Fth>\u003C\u002Ftr>\u003C\u002Fthead>\u003Ctbody>\u003Ctr>\u003Ctd>Aluguel mínimo\u003C\u002Ftd>\u003Ctd>1.456.940\u003C\u002Ftd>\u003Ctd>1.300.715\u003C\u002Ftd>\u003Ctd>12%\u003C\u002Ftd>\u003Ctd>17.482.472\u003C\u002Ftd>\u003Ctd>15.829.873\u003C\u002Ftd>\u003Ctd>10%\u003C\u002Ftd>\u003C\u002Ftr>\u003Ctr>\u003Ctd>Aluguel complementar\u003C\u002Ftd>\u003Ctd>168.460\u003C\u002Ftd>\u003Ctd>186.960\u003C\u002Ftd>\u003Ctd>-10%\u003C\u002Ftd>\u003Ctd>1.895.659\u003C\u002Ftd>\u003Ctd>2.156.240\u003C\u002Ftd>\u003Ctd>-12%\u003C\u002Ftd>\u003C\u002Ftr>\u003Ctr>\u003Ctd>Aluguel quiosques\u002Fmídia\u002Feventos\u003C\u002Ftd>\u003Ctd>302.400\u003C\u002Ftd>\u003Ctd>416.146\u003C\u002Ftd>\u003Ctd>-27%\u003C\u002Ftd>\u003Ctd>3.324.852\u003C\u002Ftd>\u003Ctd>3.425.662\u003C\u002Ftd>\u003Ctd>-3%\u003C\u002Ftd>\u003C\u002Ftr>\u003Ctr>\u003Ctd>Outras receitas\u003C\u002Ftd>\u003Ctd>21.627\u003C\u002Ftd>\u003Ctd>26.532\u003C\u002Ftd>\u003Ctd>-\u003C\u002Ftd>\u003Ctd>131.785\u003C\u002Ftd>\u003Ctd>765.986\u003C\u002Ftd>\u003Ctd>-83%\u003C\u002Ftd>\u003C\u002Ftr>\u003Ctr>\u003Ctd>Receitas totais\u003C\u002Ftd>\u003Ctd>1.949.427\u003C\u002Ftd>\u003Ctd>1.930.353\u003C\u002Ftd>\u003Ctd>1%\u003C\u002Ftd>\u003Ctd>22.834.766\u003C\u002Ftd>\u003Ctd>22.177.760\u003C\u002Ftd>\u003Ctd>3%\u003C\u002Ftd>\u003C\u002Ftr>\u003Ctr>\u003Ctd>Encargos de lojas vagas e contratuais\u003C\u002Ftd>\u003Ctd>(530.880)\u003C\u002Ftd>\u003Ctd>(553.975)\u003C\u002Ftd>\u003Ctd>-4%\u003C\u002Ftd>\u003Ctd>(9.393.545)\u003C\u002Ftd>\u003Ctd>(8.392.164)\u003C\u002Ftd>\u003Ctd>12%\u003C\u002Ftd>\u003C\u002Ftr>\u003Ctr>\u003Ctd>Outras despesas\u003C\u002Ftd>\u003Ctd>(385.392)\u003C\u002Ftd>\u003Ctd>(237.007)\u003C\u002Ftd>\u003Ctd>63%\u003C\u002Ftd>\u003Ctd>(4.595.967)\u003C\u002Ftd>\u003Ctd>(3.955.220)\u003C\u002Ftd>\u003Ctd>16%\u003C\u002Ftd>\u003C\u002Ftr>\u003Ctr>\u003Ctd>Despesas totais\u003C\u002Ftd>\u003Ctd>(916.272)\u003C\u002Ftd>\u003Ctd>(790.982)\u003C\u002Ftd>\u003Ctd>16%\u003C\u002Ftd>\u003Ctd>(13.989.512)\u003C\u002Ftd>\u003Ctd>(12.347.384)\u003C\u002Ftd>\u003Ctd>13%\u003C\u002Ftd>\u003C\u002Ftr>\u003Ctr>\u003Ctd>Resultado sem estacionamento\u003C\u002Ftd>\u003Ctd>1.033.155\u003C\u002Ftd>\u003Ctd>1.139.371\u003C\u002Ftd>\u003Ctd>-9%\u003C\u002Ftd>\u003Ctd>8.845.254\u003C\u002Ftd>\u003Ctd>9.830.376\u003C\u002Ftd>\u003Ctd>-10%\u003C\u002Ftd>\u003C\u002Ftr>\u003Ctr>\u003Ctd>Resultado estacionamento\u003C\u002Ftd>\u003Ctd>838.444\u003C\u002Ftd>\u003Ctd>847.287\u003C\u002Ftd>\u003Ctd>-1%\u003C\u002Ftd>\u003Ctd>8.382.870\u003C\u002Ftd>\u003Ctd>7.119.154\u003C\u002Ftd>\u003Ctd>18%\u003C\u002Ftd>\u003C\u002Ftr>\u003Ctr>\u003Ctd>Resultado operacional (NOI)\u003C\u002Ftd>\u003Ctd>1.871.599\u003C\u002Ftd>\u003Ctd>1.986.659\u003C\u002Ftd>\u003Ctd>-6%\u003C\u002Ftd>\u003Ctd>17.228.124\u003C\u002Ftd>\u003Ctd>16.949.530\u003C\u002Ftd>\u003Ctd>2%\u003C\u002Ftd>\u003C\u002Ftr>\u003Ctr>\u003Ctd>Benfeitorias\u003C\u002Ftd>\u003Ctd>(2.031.740)\u003C\u002Ftd>\u003Ctd>(2.100.334)\u003C\u002Ftd>\u003Ctd>-3%\u003C\u002Ftd>\u003Ctd>(21.842.668)\u003C\u002Ftd>\u003Ctd>(10.434.561)\u003C\u002Ftd>\u003Ctd>109%\u003C\u002Ftd>\u003C\u002Ftr>\u003Ctr>\u003Ctd>Resultado não operacional\u003C\u002Ftd>\u003Ctd>-\u003C\u002Ftd>\u003Ctd>-\u003C\u002Ftd>\u003Ctd>-\u003C\u002Ftd>\u003Ctd>-\u003C\u002Ftd>\u003Ctd>(82.580)\u003C\u002Ftd>\u003Ctd>-100%\u003C\u002Ftd>\u003C\u002Ftr>\u003Ctr>\u003Ctd>Fluxo de caixa total\u003C\u002Ftd>\u003Ctd>(160.141)\u003C\u002Ftd>\u003Ctd>(113.675)\u003C\u002Ftd>\u003Ctd>41%\u003C\u002Ftd>\u003Ctd>(4.614.544)\u003C\u002Ftd>\u003Ctd>6.432.389\u003C\u002Ftd>\u003Ctd>-\u003C\u002Ftd>\u003C\u002Ftr>\u003C\u002Ftbody>\u003C\u002Ftable>\u003Cp>VENDAS (R$ MM)\u003C\u002Fp>\u003Cp>\u003Cimg alt=\"\" src=\"\u002Fstorage\u002Ffiis\u002Fdocumentos\u002F5472\u002Fpage_25_chart_6.jpg\">\u003C\u002Fp>\u003Cp>FLUXO DE VEÍCULOS (‘000)\u003C\u002Fp>\u003Cp>\u003Cimg alt=\"\" src=\"\u002Fstorage\u002Ffiis\u002Fdocumentos\u002F5472\u002Fpage_25_chart_8.jpg\">\u003C\u002Fp>\u003Cp>INADIMPLÊNCIA LÍQUIDA 12M\u003C\u002Fp>\u003Cp>\u003Cimg alt=\"\" src=\"\u002Fstorage\u002Ffiis\u002Fdocumentos\u002F5472\u002Fpage_25_chart_10.jpg\">\u003C\u002Fp>\u003Cp>VACÂNCIA (% ABL)\u003C\u002Fp>\u003Cp>\u003Cimg alt=\"\" src=\"\u002Fstorage\u002Ffiis\u002Fdocumentos\u002F5472\u002Fpage_25_chart_12.jpg\">\u003C\u002Fp>\u003Ch3>TIVOLI SHOPPING CENTER (6% DA CARTEIRA)\u003C\u002Fh3>\u003Cp>O Tivoli Shopping é um dos principais destaques do portfólio, apresentando ótimos resultados que reforçam a resiliência e força do ativo. É referência para os habitantes das cidades de Santa Bárbara d’Oeste e Americana, cidades da região metropolitana de Campinas.\u003C\u002Fp>\u003Cp>Movimentações comerciais: sem alterações.\u003C\u002Fp>\u003Ctable>\u003Cthead>\u003Ctr>\u003Cth>PARTICIPAÇÃO\u003C\u002Fth>\u003Cth>ABL TOTAL\u003C\u002Fth>\u003Cth>OPERAÇÕES\u003C\u002Fth>\u003Cth>INAUGURAÇÃO\u003C\u002Fth>\u003Cth>OPERADOR\u003C\u002Fth>\u003C\u002Ftr>\u003C\u002Fthead>\u003Ctbody>\u003Ctr>\u003Ctd>59,0%\u003C\u002Ftd>\u003Ctd>25,8 mil m²\u003C\u002Ftd>\u003Ctd>145\u003C\u002Ftd>\u003Ctd>1998\u003C\u002Ftd>\u003Ctd>AD Shopping\u003C\u002Ftd>\u003C\u002Ftr>\u003C\u002Ftbody>\u003C\u002Ftable>\u003Cp>Principais Operações: Renner, C&A, Vivara, Life by Vivara, Magazine Luiza, Centauro, Riachuelo, Moviecom, Pernambucanas, Cobasi, Coco Bambu e Outback.\u003C\u002Fp>\u003Cp>Endereço: Av. Santa Bárbara, 777 – Santa Bárbara d’Oeste, SP\u003C\u002Fp>\u003Cp>www.tivolishopping.com.br\u003C\u002Fp>\u003Cp>\u003Cimg alt=\"\" src=\"\u002Fstorage\u002Ffiis\u002Fdocumentos\u002F5472\u002Fpage_26_image_10.jpg\">\u003C\u002Fp>\u003Cp>\u003Cimg alt=\"\" src=\"\u002Fstorage\u002Ffiis\u002Fdocumentos\u002F5472\u002Fpage_26_image_11.jpg\">\u003C\u002Fp>\u003Cp>\u003Cimg alt=\"\" src=\"\u002Fstorage\u002Ffiis\u002Fdocumentos\u002F5472\u002Fpage_26_image_12.jpg\">\u003C\u002Fp>\u003Cp>\u003Cimg alt=\"\" src=\"\u002Fstorage\u002Ffiis\u002Fdocumentos\u002F5472\u002Fpage_26_image_13.jpg\">\u003C\u002Fp>\u003Cp>Fotos: Maurício Moreno\u003C\u002Fp>\u003Cp>\u003Cimg alt=\"\" src=\"\u002Fstorage\u002Ffiis\u002Fdocumentos\u002F5472\u002Fpage_26_image_15.jpg\">\u003C\u002Fp>\u003Cp>TIVOLI SHOPPING CENTER (6% DA CARTEIRA)\u003C\u002Fp>\u003Ctable>\u003Cthead>\u003Ctr>\u003Cth>Fluxo de Caixa 100% shopping\u003C\u002Fth>\u003Cth>Realizadodez-25\u003C\u002Fth>\u003Cth>Realizadodez-24\u003C\u002Fth>\u003Cth>Variação vs. dez-24\u003C\u002Fth>\u003Cth>Acum.dez-25\u003C\u002Fth>\u003Cth>Acum.dez-24\u003C\u002Fth>\u003Cth>Variação acum. a\u002Fa\u003C\u002Fth>\u003C\u002Ftr>\u003C\u002Fthead>\u003Ctbody>\u003Ctr>\u003Ctd>Aluguel mínimo\u003C\u002Ftd>\u003Ctd>1.698.076\u003C\u002Ftd>\u003Ctd>1.807.952\u003C\u002Ftd>\u003Ctd>-6%\u003C\u002Ftd>\u003Ctd>20.047.151\u003C\u002Ftd>\u003Ctd>19.407.957\u003C\u002Ftd>\u003Ctd>3%\u003C\u002Ftd>\u003C\u002Ftr>\u003Ctr>\u003Ctd>Aluguel complementar\u003C\u002Ftd>\u003Ctd>205.488\u003C\u002Ftd>\u003Ctd>229.709\u003C\u002Ftd>\u003Ctd>-11%\u003C\u002Ftd>\u003Ctd>2.304.578\u003C\u002Ftd>\u003Ctd>2.410.323\u003C\u002Ftd>\u003Ctd>-4%\u003C\u002Ftd>\u003C\u002Ftr>\u003Ctr>\u003Ctd>Aluguel quiosques\u002Fmídia\u002Feventos\u003C\u002Ftd>\u003Ctd>405.405\u003C\u002Ftd>\u003Ctd>351.288\u003C\u002Ftd>\u003Ctd>15%\u003C\u002Ftd>\u003Ctd>3.327.238\u003C\u002Ftd>\u003Ctd>3.002.213\u003C\u002Ftd>\u003Ctd>11%\u003C\u002Ftd>\u003C\u002Ftr>\u003Ctr>\u003Ctd>Outras receitas\u003C\u002Ftd>\u003Ctd>41.091\u003C\u002Ftd>\u003Ctd>91.395\u003C\u002Ftd>\u003Ctd>-55%\u003C\u002Ftd>\u003Ctd>730.171\u003C\u002Ftd>\u003Ctd>1.150.735\u003C\u002Ftd>\u003Ctd>-37%\u003C\u002Ftd>\u003C\u002Ftr>\u003Ctr>\u003Ctd>Receitas totais\u003C\u002Ftd>\u003Ctd>2.350.059\u003C\u002Ftd>\u003Ctd>2.480.344\u003C\u002Ftd>\u003Ctd>-5%\u003C\u002Ftd>\u003Ctd>26.409.138\u003C\u002Ftd>\u003Ctd>25.971.228\u003C\u002Ftd>\u003Ctd>2%\u003C\u002Ftd>\u003C\u002Ftr>\u003Ctr>\u003Ctd>Encargos de lojas vagas e contratuais\u003C\u002Ftd>\u003Ctd>(39.555)\u003C\u002Ftd>\u003Ctd>(54.192)\u003C\u002Ftd>\u003Ctd>-27%\u003C\u002Ftd>\u003Ctd>(581.632)\u003C\u002Ftd>\u003Ctd>(625.847)\u003C\u002Ftd>\u003Ctd>-7%\u003C\u002Ftd>\u003C\u002Ftr>\u003Ctr>\u003Ctd>Outras despesas\u003C\u002Ftd>\u003Ctd>(289.881)\u003C\u002Ftd>\u003Ctd>(228.082)\u003C\u002Ftd>\u003Ctd>27%\u003C\u002Ftd>\u003Ctd>(2.949.715)\u003C\u002Ftd>\u003Ctd>(2.352.044)\u003C\u002Ftd>\u003Ctd>25%\u003C\u002Ftd>\u003C\u002Ftr>\u003Ctr>\u003Ctd>Despesas totais\u003C\u002Ftd>\u003Ctd>(329.436)\u003C\u002Ftd>\u003Ctd>(282.273)\u003C\u002Ftd>\u003Ctd>17%\u003C\u002Ftd>\u003Ctd>(3.531.348)\u003C\u002Ftd>\u003Ctd>(2.977.891)\u003C\u002Ftd>\u003Ctd>19%\u003C\u002Ftd>\u003C\u002Ftr>\u003Ctr>\u003Ctd>Resultado sem estacionamento\u003C\u002Ftd>\u003Ctd>2.020.623\u003C\u002Ftd>\u003Ctd>2.198.071\u003C\u002Ftd>\u003Ctd>-8%\u003C\u002Ftd>\u003Ctd>22.877.791\u003C\u002Ftd>\u003Ctd>22.993.337\u003C\u002Ftd>\u003Ctd>-1%\u003C\u002Ftd>\u003C\u002Ftr>\u003Ctr>\u003Ctd>Resultado estacionamento\u003C\u002Ftd>\u003Ctd>663.679\u003C\u002Ftd>\u003Ctd>671.399\u003C\u002Ftd>\u003Ctd>-1%\u003C\u002Ftd>\u003Ctd>7.773.667\u003C\u002Ftd>\u003Ctd>7.071.118\u003C\u002Ftd>\u003Ctd>10%\u003C\u002Ftd>\u003C\u002Ftr>\u003C\u002Ftbody>\u003C\u002Ftable>\u003Ctable>\u003Cthead>\u003Ctr>\u003Cth>Resultado operacional (NOI)\u003C\u002Fth>\u003Cth>2.684.302\u003C\u002Fth>\u003Cth>2.869.470\u003C\u002Fth>\u003Cth>-6%\u003C\u002Fth>\u003Cth>30.651.458\u003C\u002Fth>\u003Cth>30.064.455\u003C\u002Fth>\u003Cth>2%\u003C\u002Fth>\u003C\u002Ftr>\u003C\u002Fthead>\u003Ctbody>\u003Ctr>\u003Ctd>Benfeitorias\u003C\u002Ftd>\u003Ctd>(397.425)\u003C\u002Ftd>\u003Ctd>(216.661)\u003C\u002Ftd>\u003Ctd>83%\u003C\u002Ftd>\u003Ctd>(2.043.774)\u003C\u002Ftd>\u003Ctd>(3.347.690)\u003C\u002Ftd>\u003Ctd>-39%\u003C\u002Ftd>\u003C\u002Ftr>\u003Ctr>\u003Ctd>Resultado não operacional\u003C\u002Ftd>\u003Ctd>-\u003C\u002Ftd>\u003Ctd>-\u003C\u002Ftd>\u003Ctd>-\u003C\u002Ftd>\u003Ctd>-\u003C\u002Ftd>\u003Ctd>(160.551)\u003C\u002Ftd>\u003Ctd>-100%\u003C\u002Ftd>\u003C\u002Ftr>\u003Ctr>\u003Ctd>Fluxo de caixa total\u003C\u002Ftd>\u003Ctd>2.286.877\u003C\u002Ftd>\u003Ctd>2.652.809\u003C\u002Ftd>\u003Ctd>-14%\u003C\u002Ftd>\u003Ctd>28.607.684\u003C\u002Ftd>\u003Ctd>26.556.214\u003C\u002Ftd>\u003Ctd>8%\u003C\u002Ftd>\u003C\u002Ftr>\u003C\u002Ftbody>\u003C\u002Ftable>\u003Cp>VENDAS (R$ MM)\u003C\u002Fp>\u003Cp>\u003Cimg alt=\"\" src=\"\u002Fstorage\u002Ffiis\u002Fdocumentos\u002F5472\u002Fpage_27_chart_7.jpg\">\u003C\u002Fp>\u003Cp>FLUXO DE VEÍCULOS (‘000)\u003C\u002Fp>\u003Cp>\u003Cimg alt=\"\" src=\"\u002Fstorage\u002Ffiis\u002Fdocumentos\u002F5472\u002Fpage_27_chart_9.jpg\">\u003C\u002Fp>\u003Cp>INADIMPLÊNCIA LÍQUIDA 12M\u003C\u002Fp>\u003Cp>\u003Cimg alt=\"\" src=\"\u002Fstorage\u002Ffiis\u002Fdocumentos\u002F5472\u002Fpage_27_chart_11.jpg\">\u003C\u002Fp>\u003Cp>VACÂNCIA (% ABL)\u003C\u002Fp>\u003Cp>\u003Cimg alt=\"\" src=\"\u002Fstorage\u002Ffiis\u002Fdocumentos\u002F5472\u002Fpage_27_chart_13.jpg\">\u003C\u002Fp>\u003Ch3>BOULEVARD SHOPPING BAURU (9% DA CARTEIRA)\u003C\u002Fh3>\u003Cp>O Boulevard Shopping Bauru é o maior centro de compras de Bauru, cidade que é sede da região administrativa que engloba 39 outros municípios vizinhos, abrangendo uma área de influência com população de aproximadamente 1,1 milhão de pessoas.\u003C\u002Fp>\u003Cp>Destacamos que a aquisição de 35% do Boulevard Shopping Bauru será refletida nos indicadores operacionais de janeiro de 2026, ou seja, a partir do relatório gerencial de fevereiro de 2026.\u003C\u002Fp>\u003Cp>Movimentações comerciais: entrada da Kidstock (52m²) e saída da Cine 6D (54 m²).\u003C\u002Fp>\u003Ctable>\u003Cthead>\u003Ctr>\u003Cth>PARTICIPAÇÃO\u003C\u002Fth>\u003Cth>ABL TOTAL\u003C\u002Fth>\u003Cth>OPERAÇÕES\u003C\u002Fth>\u003Cth>INAUGURAÇÃO\u003C\u002Fth>\u003Cth>OPERADOR\u003C\u002Fth>\u003C\u002Ftr>\u003C\u002Fthead>\u003Ctbody>\u003Ctr>\u003Ctd>65,0%\u003C\u002Ftd>\u003Ctd>34,7 mil m²\u003C\u002Ftd>\u003Ctd>163\u003C\u002Ftd>\u003Ctd>2012\u003C\u002Ftd>\u003Ctd>WE9 + Hedge\u003C\u002Ftd>\u003C\u002Ftr>\u003C\u002Ftbody>\u003C\u002Ftable>\u003Cp>Principais Operações: Alessandro Eletro, Renner, Riachuelo, Centauro, Daiso + Soneda, Farm, Levi’s, Maravilhas do Lar, Outback, PEP da Polícia Federal, Vans, Vivara, Tommy Hilfiger e Cinépolis.\u003C\u002Fp>\u003Cp>Endereço: Rua Marcondes Salgado, Quadra 11, Bauru – SP\u003C\u002Fp>\u003Cp>boulevardshoppingbauru.com.br\u003C\u002Fp>\u003Cp>\u003Cimg alt=\"\" src=\"\u002Fstorage\u002Ffiis\u002Fdocumentos\u002F5472\u002Fpage_28_image_11.jpg\">\u003C\u002Fp>\u003Cp>\u003Cimg alt=\"\" src=\"\u002Fstorage\u002Ffiis\u002Fdocumentos\u002F5472\u002Fpage_28_image_12.jpg\">\u003C\u002Fp>\u003Cp>\u003Cimg alt=\"\" src=\"\u002Fstorage\u002Ffiis\u002Fdocumentos\u002F5472\u002Fpage_28_image_13.jpg\">\u003C\u002Fp>\u003Cp>\u003Cimg alt=\"\" src=\"\u002Fstorage\u002Ffiis\u002Fdocumentos\u002F5472\u002Fpage_28_image_14.jpg\">\u003C\u002Fp>\u003Cp>\u003Cimg alt=\"\" src=\"\u002Fstorage\u002Ffiis\u002Fdocumentos\u002F5472\u002Fpage_28_image_15.jpg\">\u003C\u002Fp>\u003Ch3>BOULEVARD SHOPPING BAURU (9% DA CARTEIRA)\u003C\u002Fh3>\u003Ctable>\u003Ctbody>\u003Ctr>\u003Ctd rowspan=\"2\">Fluxo de Caixa 100% shopping\u003C\u002Ftd>\u003Ctd>Realizado\u003C\u002Ftd>\u003Ctd>Realizado\u003C\u002Ftd>\u003Ctd>Variação\u003C\u002Ftd>\u003Ctd>Acum.\u003C\u002Ftd>\u003Ctd>Acum.\u003C\u002Ftd>\u003Ctd>Variação\u003C\u002Ftd>\u003C\u002Ftr>\u003Ctr>\u003Ctd>dez-25\u003C\u002Ftd>\u003Ctd>dez-24\u003C\u002Ftd>\u003Ctd>vs. dez-24\u003C\u002Ftd>\u003Ctd>dez-25\u003C\u002Ftd>\u003Ctd>dez-24\u003C\u002Ftd>\u003Ctd>acum. a\u002Fa\u003C\u002Ftd>\u003C\u002Ftr>\u003Ctr>\u003Ctd>Aluguel mínimo\u003C\u002Ftd>\u003Ctd>1.689.511\u003C\u002Ftd>\u003Ctd>1.390.234\u003C\u002Ftd>\u003Ctd>22%\u003C\u002Ftd>\u003Ctd>16.433.967\u003C\u002Ftd>\u003Ctd>15.097.974\u003C\u002Ftd>\u003Ctd>9%\u003C\u002Ftd>\u003C\u002Ftr>\u003Ctr>\u003Ctd>Aluguel complementar\u003C\u002Ftd>\u003Ctd>422.922\u003C\u002Ftd>\u003Ctd>362.905\u003C\u002Ftd>\u003Ctd>17%\u003C\u002Ftd>\u003Ctd>2.918.309\u003C\u002Ftd>\u003Ctd>2.399.656\u003C\u002Ftd>\u003Ctd>22%\u003C\u002Ftd>\u003C\u002Ftr>\u003Ctr>\u003Ctd>Aluguel quiosques\u002Fmídia\u002Feventos\u003C\u002Ftd>\u003Ctd>713.391\u003C\u002Ftd>\u003Ctd>616.577\u003C\u002Ftd>\u003Ctd>16%\u003C\u002Ftd>\u003Ctd>4.663.396\u003C\u002Ftd>\u003Ctd>4.135.106\u003C\u002Ftd>\u003Ctd>13%\u003C\u002Ftd>\u003C\u002Ftr>\u003Ctr>\u003Ctd>Outras receitas\u003C\u002Ftd>\u003Ctd>55.538\u003C\u002Ftd>\u003Ctd>27.042\u003C\u002Ftd>\u003Ctd>-\u003C\u002Ftd>\u003Ctd>317.855\u003C\u002Ftd>\u003Ctd>250.124\u003C\u002Ftd>\u003Ctd>-\u003C\u002Ftd>\u003C\u002Ftr>\u003Ctr>\u003Ctd>Receitas totais\u003C\u002Ftd>\u003Ctd>2.881.362\u003C\u002Ftd>\u003Ctd>2.396.759\u003C\u002Ftd>\u003Ctd>20%\u003C\u002Ftd>\u003Ctd>24.333.526\u003C\u002Ftd>\u003Ctd>21.882.860\u003C\u002Ftd>\u003Ctd>11%\u003C\u002Ftd>\u003C\u002Ftr>\u003Ctr>\u003Ctd>Encargos de lojas vagas e contratuais\u003C\u002Ftd>\u003Ctd>(194.353)\u003C\u002Ftd>\u003Ctd>(226.969)\u003C\u002Ftd>\u003Ctd>-14%\u003C\u002Ftd>\u003Ctd>(2.463.401)\u003C\u002Ftd>\u003Ctd>(2.629.734)\u003C\u002Ftd>\u003Ctd>-6%\u003C\u002Ftd>\u003C\u002Ftr>\u003Ctr>\u003Ctd>Outras despesas\u003C\u002Ftd>\u003Ctd>(230.747)\u003C\u002Ftd>\u003Ctd>(162.375)\u003C\u002Ftd>\u003Ctd>42%\u003C\u002Ftd>\u003Ctd>(2.991.700)\u003C\u002Ftd>\u003Ctd>(2.488.940)\u003C\u002Ftd>\u003Ctd>20%\u003C\u002Ftd>\u003C\u002Ftr>\u003Ctr>\u003Ctd>Despesas totais\u003C\u002Ftd>\u003Ctd>(425.100)\u003C\u002Ftd>\u003Ctd>(389.344)\u003C\u002Ftd>\u003Ctd>9%\u003C\u002Ftd>\u003Ctd>(5.455.100)\u003C\u002Ftd>\u003Ctd>(5.118.674)\u003C\u002Ftd>\u003Ctd>7%\u003C\u002Ftd>\u003C\u002Ftr>\u003Ctr>\u003Ctd>Resultado sem estacionamento\u003C\u002Ftd>\u003Ctd>2.456.262\u003C\u002Ftd>\u003Ctd>2.007.415\u003C\u002Ftd>\u003Ctd>22%\u003C\u002Ftd>\u003Ctd>18.878.426\u003C\u002Ftd>\u003Ctd>16.764.186\u003C\u002Ftd>\u003Ctd>13%\u003C\u002Ftd>\u003C\u002Ftr>\u003Ctr>\u003Ctd>Resultado estacionamento\u003C\u002Ftd>\u003Ctd>845.974\u003C\u002Ftd>\u003Ctd>707.886\u003C\u002Ftd>\u003Ctd>20%\u003C\u002Ftd>\u003Ctd>5.948.989\u003C\u002Ftd>\u003Ctd>4.832.551\u003C\u002Ftd>\u003Ctd>23%\u003C\u002Ftd>\u003C\u002Ftr>\u003C\u002Ftbody>\u003C\u002Ftable>\u003Ctable>\u003Cthead>\u003Ctr>\u003Cth>Resultado operacional (NOI)\u003C\u002Fth>\u003Cth>3.302.236\u003C\u002Fth>\u003Cth>2.715.301\u003C\u002Fth>\u003Cth>22%\u003C\u002Fth>\u003Cth>24.827.415\u003C\u002Fth>\u003Cth>21.596.737\u003C\u002Fth>\u003Cth>15%\u003C\u002Fth>\u003C\u002Ftr>\u003C\u002Fthead>\u003Ctbody>\u003Ctr>\u003Ctd>Benfeitorias\u003C\u002Ftd>\u003Ctd>(34.233)\u003C\u002Ftd>\u003Ctd>(60.727)\u003C\u002Ftd>\u003Ctd>-44%\u003C\u002Ftd>\u003Ctd>(1.509.950)\u003C\u002Ftd>\u003Ctd>(743.478)\u003C\u002Ftd>\u003Ctd>103%\u003C\u002Ftd>\u003C\u002Ftr>\u003Ctr>\u003Ctd>Resultado não operacional\u003C\u002Ftd>\u003Ctd>12.026\u003C\u002Ftd>\u003Ctd>49.929\u003C\u002Ftd>\u003Ctd>-76%\u003C\u002Ftd>\u003Ctd>156.910\u003C\u002Ftd>\u003Ctd>48.153\u003C\u002Ftd>\u003Ctd>226%\u003C\u002Ftd>\u003C\u002Ftr>\u003Ctr>\u003Ctd>Fluxo de caixa total\u003C\u002Ftd>\u003Ctd>3.280.030\u003C\u002Ftd>\u003Ctd>2.704.503\u003C\u002Ftd>\u003Ctd>21%\u003C\u002Ftd>\u003Ctd>23.474.375\u003C\u002Ftd>\u003Ctd>20.901.411\u003C\u002Ftd>\u003Ctd>12%\u003C\u002Ftd>\u003C\u002Ftr>\u003C\u002Ftbody>\u003C\u002Ftable>\u003Cp>VENDAS (R$ MM)\u003C\u002Fp>\u003Cp>\u003Cimg alt=\"\" src=\"\u002Fstorage\u002Ffiis\u002Fdocumentos\u002F5472\u002Fpage_29_chart_7.jpg\">\u003C\u002Fp>\u003Cp>FLUXO DE VEÍCULOS (‘000)\u003C\u002Fp>\u003Cp>\u003Cimg alt=\"\" src=\"\u002Fstorage\u002Ffiis\u002Fdocumentos\u002F5472\u002Fpage_29_chart_9.jpg\">\u003C\u002Fp>\u003Cp>INADIMPLÊNCIA LÍQUIDA 12M\u003C\u002Fp>\u003Cp>\u003Cimg alt=\"\" src=\"\u002Fstorage\u002Ffiis\u002Fdocumentos\u002F5472\u002Fpage_29_chart_11.jpg\">\u003C\u002Fp>\u003Cp>VACÂNCIA (% ABL)\u003C\u002Fp>\u003Cp>\u003Cimg alt=\"\" src=\"\u002Fstorage\u002Ffiis\u002Fdocumentos\u002F5472\u002Fpage_29_chart_13.jpg\">\u003C\u002Fp>\u003Ch3>SÃO BERNARDO PLAZA SHOPPING (5% DA CARTEIRA)\u003C\u002Fh3>\u003Cp>O São Bernardo Plaza Shopping foi construído para ser um ponto de referência em lazer, cultura, passeio e compras para a região. O empreendimento possui 105 mil metros quadrados de terreno, mais de 42 mil metros quadrados ABL e 2,4 mil vagas no estacionamento, sendo que aproximadamente 1,2 mil são cobertas. A qualificação e melhoria do mix atrelada aos diferenciais do equipamento têm contribuído para a almejada consolidação do São Bernardo Plaza como dominante na região.\u003C\u002Fp>\u003Cp>Movimentações comerciais: saída da Fátima Bolos (48 m²).\u003C\u002Fp>\u003Ctable>\u003Cthead>\u003Ctr>\u003Cth>PARTICIPAÇÃO\u003C\u002Fth>\u003Cth>ABL TOTAL\u003C\u002Fth>\u003Cth>OPERAÇÕES\u003C\u002Fth>\u003Cth>INAUGURAÇÃO\u003C\u002Fth>\u003Cth>OPERADOR\u003C\u002Fth>\u003C\u002Ftr>\u003C\u002Fthead>\u003Ctbody>\u003Ctr>\u003Ctd>35,0%\u003C\u002Ftd>\u003Ctd>42,9 mil m²\u003C\u002Ftd>\u003Ctd>186\u003C\u002Ftd>\u003Ctd>2012\u003C\u002Ftd>\u003Ctd>ALLOS\u003C\u002Ftd>\u003C\u002Ftr>\u003C\u002Ftbody>\u003C\u002Ftable>\u003Cp>Principais Operações: Cinépolis, Estrela do Lar, Outback, Kalunga, Magazine Luiza e Smart Fit. Endereço: Av Rotary, 624 – São Bernardo do Campo, SP www.shoppingsaobernardoplaza.com.br\u003C\u002Fp>\u003Cp>\u003Cimg alt=\"\" src=\"\u002Fstorage\u002Ffiis\u002Fdocumentos\u002F5472\u002Fpage_30_image_8.jpg\">\u003C\u002Fp>\u003Cp>\u003Cimg alt=\"\" src=\"\u002Fstorage\u002Ffiis\u002Fdocumentos\u002F5472\u002Fpage_30_image_9.jpg\">\u003C\u002Fp>\u003Cp>\u003Cimg alt=\"\" src=\"\u002Fstorage\u002Ffiis\u002Fdocumentos\u002F5472\u002Fpage_30_image_10.jpg\">\u003C\u002Fp>\u003Cp>\u003Cimg alt=\"\" src=\"\u002Fstorage\u002Ffiis\u002Fdocumentos\u002F5472\u002Fpage_30_image_11.jpg\">\u003C\u002Fp>\u003Cp>Fotos 2 a 5: Maurício Moreno.\u003C\u002Fp>\u003Cp>\u003Cimg alt=\"\" src=\"\u002Fstorage\u002Ffiis\u002Fdocumentos\u002F5472\u002Fpage_30_image_13.jpg\">\u003C\u002Fp>\u003Cp>SÃO BERNARDO PLAZA SHOPPING (5% DA CARTEIRA)\u003C\u002Fp>\u003Ctable>\u003Ctbody>\u003Ctr>\u003Ctd rowspan=\"2\">Fluxo de Caixa 100% shopping\u003C\u002Ftd>\u003Ctd>Realizado\u003C\u002Ftd>\u003Ctd>Realizado\u003C\u002Ftd>\u003Ctd>Variação\u003C\u002Ftd>\u003Ctd>Acum.\u003C\u002Ftd>\u003Ctd>Acum.\u003C\u002Ftd>\u003Ctd>Variação\u003C\u002Ftd>\u003C\u002Ftr>\u003Ctr>\u003Ctd>dez-25\u003C\u002Ftd>\u003Ctd>dez-24\u003C\u002Ftd>\u003Ctd>vs. dez-24\u003C\u002Ftd>\u003Ctd>dez-25\u003C\u002Ftd>\u003Ctd>dez-24\u003C\u002Ftd>\u003Ctd>acum. a\u002Fa\u003C\u002Ftd>\u003C\u002Ftr>\u003Ctr>\u003Ctd>Aluguel mínimo\u003C\u002Ftd>\u003Ctd>2.439.974\u003C\u002Ftd>\u003Ctd>2.712.607\u003C\u002Ftd>\u003Ctd>-10%\u003C\u002Ftd>\u003Ctd>28.226.467\u003C\u002Ftd>\u003Ctd>28.685.506\u003C\u002Ftd>\u003Ctd>-2%\u003C\u002Ftd>\u003C\u002Ftr>\u003Ctr>\u003Ctd>Aluguel complementar\u003C\u002Ftd>\u003Ctd>269.760\u003C\u002Ftd>\u003Ctd>265.368\u003C\u002Ftd>\u003Ctd>2%\u003C\u002Ftd>\u003Ctd>2.082.422\u003C\u002Ftd>\u003Ctd>2.424.375\u003C\u002Ftd>\u003Ctd>-14%\u003C\u002Ftd>\u003C\u002Ftr>\u003Ctr>\u003Ctd>Aluguel quiosques\u002Fmídia\u002Feventos\u003C\u002Ftd>\u003Ctd>790.622\u003C\u002Ftd>\u003Ctd>586.102\u003C\u002Ftd>\u003Ctd>35%\u003C\u002Ftd>\u003Ctd>5.820.360\u003C\u002Ftd>\u003Ctd>5.766.054\u003C\u002Ftd>\u003Ctd>1%\u003C\u002Ftd>\u003C\u002Ftr>\u003Ctr>\u003Ctd>Outras receitas\u003C\u002Ftd>\u003Ctd>320.541\u003C\u002Ftd>\u003Ctd>82.347\u003C\u002Ftd>\u003Ctd>289%\u003C\u002Ftd>\u003Ctd>2.072.795\u003C\u002Ftd>\u003Ctd>1.509.931\u003C\u002Ftd>\u003Ctd>37%\u003C\u002Ftd>\u003C\u002Ftr>\u003Ctr>\u003Ctd>Receitas totais\u003C\u002Ftd>\u003Ctd>3.820.897\u003C\u002Ftd>\u003Ctd>3.646.424\u003C\u002Ftd>\u003Ctd>5%\u003C\u002Ftd>\u003Ctd>38.202.043\u003C\u002Ftd>\u003Ctd>38.385.866\u003C\u002Ftd>\u003Ctd>0%\u003C\u002Ftd>\u003C\u002Ftr>\u003Ctr>\u003Ctd>Encargos de lojas vagas e contratuais\u003C\u002Ftd>\u003Ctd>(16.678)\u003C\u002Ftd>\u003Ctd>(12.204)\u003C\u002Ftd>\u003Ctd>37%\u003C\u002Ftd>\u003Ctd>(1.273.907)\u003C\u002Ftd>\u003Ctd>(1.215.589)\u003C\u002Ftd>\u003Ctd>5%\u003C\u002Ftd>\u003C\u002Ftr>\u003Ctr>\u003Ctd>Outras despesas\u003C\u002Ftd>\u003Ctd>(425.014)\u003C\u002Ftd>\u003Ctd>(401.880)\u003C\u002Ftd>\u003Ctd>6%\u003C\u002Ftd>\u003Ctd>(6.342.226)\u003C\u002Ftd>\u003Ctd>(5.247.162)\u003C\u002Ftd>\u003Ctd>21%\u003C\u002Ftd>\u003C\u002Ftr>\u003Ctr>\u003Ctd>Despesas totais\u003C\u002Ftd>\u003Ctd>(441.692)\u003C\u002Ftd>\u003Ctd>(414.084)\u003C\u002Ftd>\u003Ctd>7%\u003C\u002Ftd>\u003Ctd>(7.616.133)\u003C\u002Ftd>\u003Ctd>(6.462.751)\u003C\u002Ftd>\u003Ctd>18%\u003C\u002Ftd>\u003C\u002Ftr>\u003Ctr>\u003Ctd>Resultado sem estacionamento\u003C\u002Ftd>\u003Ctd>3.379.205\u003C\u002Ftd>\u003Ctd>3.232.340\u003C\u002Ftd>\u003Ctd>5%\u003C\u002Ftd>\u003Ctd>30.585.910\u003C\u002Ftd>\u003Ctd>31.923.115\u003C\u002Ftd>\u003Ctd>-4%\u003C\u002Ftd>\u003C\u002Ftr>\u003Ctr>\u003Ctd>Resultado estacionamento\u003C\u002Ftd>\u003Ctd>1.228.592\u003C\u002Ftd>\u003Ctd>1.275.996\u003C\u002Ftd>\u003Ctd>-4%\u003C\u002Ftd>\u003Ctd>14.256.892\u003C\u002Ftd>\u003Ctd>13.188.435\u003C\u002Ftd>\u003Ctd>8%\u003C\u002Ftd>\u003C\u002Ftr>\u003Ctr>\u003Ctd>Resultado operacional (NOI)\u003C\u002Ftd>\u003Ctd>4.607.797\u003C\u002Ftd>\u003Ctd>4.508.336\u003C\u002Ftd>\u003Ctd>2%\u003C\u002Ftd>\u003Ctd>44.842.803\u003C\u002Ftd>\u003Ctd>45.111.550\u003C\u002Ftd>\u003Ctd>-1%\u003C\u002Ftd>\u003C\u002Ftr>\u003Ctr>\u003Ctd>Benfeitorias\u003C\u002Ftd>\u003Ctd>(126.404)\u003C\u002Ftd>\u003Ctd>(188.396)\u003C\u002Ftd>\u003Ctd>-33%\u003C\u002Ftd>\u003Ctd>(2.212.643)\u003C\u002Ftd>\u003Ctd>(2.259.318)\u003C\u002Ftd>\u003Ctd>-2%\u003C\u002Ftd>\u003C\u002Ftr>\u003Ctr>\u003Ctd>Resultado não operacional\u003C\u002Ftd>\u003Ctd>(20.945)\u003C\u002Ftd>\u003Ctd>14.282\u003C\u002Ftd>\u003Ctd>-\u003C\u002Ftd>\u003Ctd>(375.064)\u003C\u002Ftd>\u003Ctd>80.766\u003C\u002Ftd>\u003Ctd>-\u003C\u002Ftd>\u003C\u002Ftr>\u003Ctr>\u003Ctd>Fluxo de caixa total\u003C\u002Ftd>\u003Ctd>4.460.448\u003C\u002Ftd>\u003Ctd>4.334.222\u003C\u002Ftd>\u003Ctd>3%\u003C\u002Ftd>\u003Ctd>42.255.095\u003C\u002Ftd>\u003Ctd>42.932.998\u003C\u002Ftd>\u003Ctd>-2%\u003C\u002Ftd>\u003C\u002Ftr>\u003C\u002Ftbody>\u003C\u002Ftable>\u003Cp>VENDAS (R$ MM)\u003C\u002Fp>\u003Cp>\u003Cimg alt=\"\" src=\"\u002Fstorage\u002Ffiis\u002Fdocumentos\u002F5472\u002Fpage_31_chart_6.jpg\">\u003C\u002Fp>\u003Cp>FLUXO DE VEÍCULOS (‘000)\u003C\u002Fp>\u003Cp>\u003Cimg alt=\"\" src=\"\u002Fstorage\u002Ffiis\u002Fdocumentos\u002F5472\u002Fpage_31_chart_8.jpg\">\u003C\u002Fp>\u003Cp>INADIMPLÊNCIA LÍQUIDA 12M\u003C\u002Fp>\u003Cp>\u003Cimg alt=\"\" src=\"\u002Fstorage\u002Ffiis\u002Fdocumentos\u002F5472\u002Fpage_31_chart_10.jpg\">\u003C\u002Fp>\u003Cp>VACÂNCIA (% ABL)\u003C\u002Fp>\u003Cp>\u003Cimg alt=\"\" src=\"\u002Fstorage\u002Ffiis\u002Fdocumentos\u002F5472\u002Fpage_31_chart_12.jpg\">\u003C\u002Fp>\u003Ch3>SHOPPING VILLALOBOS (4% DA CARTEIRA)\u003C\u002Fh3>\u003Cp>Localizado em uma área nobre da cidade de São Paulo, o Alto de Pinheiros, o Shopping VillaLobos é cercado pelo verde do Parque Villa Lobos e está inserido na identidade cultural e diversa da região. O empreendimento passou recentemente por um retrofit da área interna e por uma revitalização da fachada. Abaixo, na última fileira de fotos, trazemos a foto da fachada finalizada.\u003C\u002Fp>\u003Cp>Movimentações comerciais: entrada do Nectar (102 m²) e saída da antiga loja da Live! (65 m²).\u003C\u002Fp>\u003Ctable>\u003Cthead>\u003Ctr>\u003Cth>PARTICIPAÇÃO\u003C\u002Fth>\u003Cth>ABL TOTAL\u003C\u002Fth>\u003Cth>OPERAÇÕES\u003C\u002Fth>\u003Cth>INAUGURAÇÃO\u003C\u002Fth>\u003Cth>OPERADOR\u003C\u002Fth>\u003C\u002Ftr>\u003C\u002Fthead>\u003Ctbody>\u003Ctr>\u003Ctd>15,0%\u003C\u002Ftd>\u003Ctd>28,4 mil m²\u003C\u002Ftd>\u003Ctd>217\u003C\u002Ftd>\u003Ctd>2000\u003C\u002Ftd>\u003Ctd>ALLOS\u003C\u002Ftd>\u003C\u002Ftr>\u003C\u002Ftbody>\u003C\u002Ftable>\u003Cp>Endereço: Av. das Nações Unidas, 4.777 – São Paulo\u002FSP\u003C\u002Fp>\u003Cp>www.shoppingvillalobos.com.br\u003C\u002Fp>\u003Cp>\u003Cimg alt=\"\" src=\"\u002Fstorage\u002Ffiis\u002Fdocumentos\u002F5472\u002Fpage_32_image_9.jpg\">\u003C\u002Fp>\u003Cp>Fotos: Maurício Moreno.\u003C\u002Fp>\u003Cp>\u003Cimg alt=\"\" src=\"\u002Fstorage\u002Ffiis\u002Fdocumentos\u002F5472\u002Fpage_32_image_11.jpg\">\u003C\u002Fp>\u003Cp>Fotos: Fachada revitalizada.\u003C\u002Fp>\u003Cp>\u003Cimg alt=\"\" src=\"\u002Fstorage\u002Ffiis\u002Fdocumentos\u002F5472\u002Fpage_32_image_13.jpg\">\u003C\u002Fp>\u003Cp>SHOPPING VILLALOBOS (4% DA CARTEIRA)\u003C\u002Fp>\u003Ctable>\u003Cthead>\u003Ctr>\u003Cth>Fluxo de Caixa 100% shopping\u003C\u002Fth>\u003Cth>Realizadodez-25\u003C\u002Fth>\u003Cth>Realizadodez-24\u003C\u002Fth>\u003Cth>Variação vs. dez-24\u003C\u002Fth>\u003Cth>Acum.dez-25\u003C\u002Fth>\u003Cth>Acum.dez-24\u003C\u002Fth>\u003Cth>Variação acum. a\u002Fa\u003C\u002Fth>\u003C\u002Ftr>\u003C\u002Fthead>\u003Ctbody>\u003Ctr>\u003Ctd>Aluguel mínimo\u003C\u002Ftd>\u003Ctd>4.333.479\u003C\u002Ftd>\u003Ctd>4.373.050\u003C\u002Ftd>\u003Ctd>-1%\u003C\u002Ftd>\u003Ctd>53.041.691\u003C\u002Ftd>\u003Ctd>52.583.488\u003C\u002Ftd>\u003Ctd>1%\u003C\u002Ftd>\u003C\u002Ftr>\u003Ctr>\u003Ctd>Aluguel complementar\u003C\u002Ftd>\u003Ctd>596.172\u003C\u002Ftd>\u003Ctd>655.170\u003C\u002Ftd>\u003Ctd>-9%\u003C\u002Ftd>\u003Ctd>5.574.325\u003C\u002Ftd>\u003Ctd>5.864.645\u003C\u002Ftd>\u003Ctd>-5%\u003C\u002Ftd>\u003C\u002Ftr>\u003Ctr>\u003Ctd>Aluguel quiosques\u002Fmídia\u002Feventos\u003C\u002Ftd>\u003Ctd>1.182.539\u003C\u002Ftd>\u003Ctd>1.021.624\u003C\u002Ftd>\u003Ctd>16%\u003C\u002Ftd>\u003Ctd>11.812.913\u003C\u002Ftd>\u003Ctd>11.313.862\u003C\u002Ftd>\u003Ctd>4%\u003C\u002Ftd>\u003C\u002Ftr>\u003Ctr>\u003Ctd>Outras receitas\u003C\u002Ftd>\u003Ctd>633.112\u003C\u002Ftd>\u003Ctd>183.861\u003C\u002Ftd>\u003Ctd>244%\u003C\u002Ftd>\u003Ctd>4.214.029\u003C\u002Ftd>\u003Ctd>2.410.487\u003C\u002Ftd>\u003Ctd>75%\u003C\u002Ftd>\u003C\u002Ftr>\u003Ctr>\u003Ctd>Receitas totais\u003C\u002Ftd>\u003Ctd>6.745.303\u003C\u002Ftd>\u003Ctd>6.233.706\u003C\u002Ftd>\u003Ctd>8%\u003C\u002Ftd>\u003Ctd>74.642.959\u003C\u002Ftd>\u003Ctd>72.172.481\u003C\u002Ftd>\u003Ctd>3%\u003C\u002Ftd>\u003C\u002Ftr>\u003Ctr>\u003Ctd>Encargos de lojas vagas e contratuais\u003C\u002Ftd>\u003Ctd>(71.271)\u003C\u002Ftd>\u003Ctd>59.465\u003C\u002Ftd>\u003Ctd>-\u003C\u002Ftd>\u003Ctd>(2.551.933)\u003C\u002Ftd>\u003Ctd>(1.713.524)\u003C\u002Ftd>\u003Ctd>49%\u003C\u002Ftd>\u003C\u002Ftr>\u003Ctr>\u003Ctd>Outras despesas\u003C\u002Ftd>\u003Ctd>(709.264)\u003C\u002Ftd>\u003Ctd>(813.680)\u003C\u002Ftd>\u003Ctd>-13%\u003C\u002Ftd>\u003Ctd>(8.538.739)\u003C\u002Ftd>\u003Ctd>(8.217.358)\u003C\u002Ftd>\u003Ctd>4%\u003C\u002Ftd>\u003C\u002Ftr>\u003Ctr>\u003Ctd>Despesas totais\u003C\u002Ftd>\u003Ctd>(780.535)\u003C\u002Ftd>\u003Ctd>(754.215)\u003C\u002Ftd>\u003Ctd>3%\u003C\u002Ftd>\u003Ctd>(11.090.672)\u003C\u002Ftd>\u003Ctd>(9.930.882)\u003C\u002Ftd>\u003Ctd>12%\u003C\u002Ftd>\u003C\u002Ftr>\u003Ctr>\u003Ctd>Resultado sem estacionamento\u003C\u002Ftd>\u003Ctd>5.964.768\u003C\u002Ftd>\u003Ctd>5.479.491\u003C\u002Ftd>\u003Ctd>9%\u003C\u002Ftd>\u003Ctd>63.552.286\u003C\u002Ftd>\u003Ctd>62.241.599\u003C\u002Ftd>\u003Ctd>2%\u003C\u002Ftd>\u003C\u002Ftr>\u003Ctr>\u003Ctd>Resultado estacionamento\u003C\u002Ftd>\u003Ctd>1.787.523\u003C\u002Ftd>\u003Ctd>1.668.913\u003C\u002Ftd>\u003Ctd>7%\u003C\u002Ftd>\u003Ctd>19.559.119\u003C\u002Ftd>\u003Ctd>17.485.774\u003C\u002Ftd>\u003Ctd>12%\u003C\u002Ftd>\u003C\u002Ftr>\u003Ctr>\u003Ctd>Resultado operacional (NOI)\u003C\u002Ftd>\u003Ctd>7.752.291\u003C\u002Ftd>\u003Ctd>7.148.404\u003C\u002Ftd>\u003Ctd>8%\u003C\u002Ftd>\u003Ctd>83.111.405\u003C\u002Ftd>\u003Ctd>79.727.373\u003C\u002Ftd>\u003Ctd>4%\u003C\u002Ftd>\u003C\u002Ftr>\u003Ctr>\u003Ctd>Benfeitorias\u003C\u002Ftd>\u003Ctd>(175.917)\u003C\u002Ftd>\u003Ctd>(3.765.894)\u003C\u002Ftd>\u003Ctd>-95%\u003C\u002Ftd>\u003Ctd>(9.035.523)\u003C\u002Ftd>\u003Ctd>(30.514.747)\u003C\u002Ftd>\u003Ctd>-70%\u003C\u002Ftd>\u003C\u002Ftr>\u003Ctr>\u003Ctd>Resultado não operacional\u003C\u002Ftd>\u003Ctd>99.065\u003C\u002Ftd>\u003Ctd>16.030\u003C\u002Ftd>\u003Ctd>518%\u003C\u002Ftd>\u003Ctd>532.489\u003C\u002Ftd>\u003Ctd>269.846\u003C\u002Ftd>\u003Ctd>97%\u003C\u002Ftd>\u003C\u002Ftr>\u003Ctr>\u003Ctd>Fluxo de caixa total\u003C\u002Ftd>\u003Ctd>7.675.439\u003C\u002Ftd>\u003Ctd>3.398.541\u003C\u002Ftd>\u003Ctd>126%\u003C\u002Ftd>\u003Ctd>74.608.371\u003C\u002Ftd>\u003Ctd>49.482.472\u003C\u002Ftd>\u003Ctd>51%\u003C\u002Ftd>\u003C\u002Ftr>\u003C\u002Ftbody>\u003C\u002Ftable>\u003Cp>VENDAS (R$ MM)\u003C\u002Fp>\u003Cp>\u003Cimg alt=\"\" src=\"\u002Fstorage\u002Ffiis\u002Fdocumentos\u002F5472\u002Fpage_33_chart_6.jpg\">\u003C\u002Fp>\u003Cp>FLUXO DE VEÍCULOS (‘000)\u003C\u002Fp>\u003Cp>\u003Cimg alt=\"\" src=\"\u002Fstorage\u002Ffiis\u002Fdocumentos\u002F5472\u002Fpage_33_chart_8.jpg\">\u003C\u002Fp>\u003Cp>INADIMPLÊNCIA LÍQUIDA 12M\u003C\u002Fp>\u003Cp>\u003Cimg alt=\"\" src=\"\u002Fstorage\u002Ffiis\u002Fdocumentos\u002F5472\u002Fpage_33_chart_10.jpg\">\u003C\u002Fp>\u003Cp>VACÂNCIA (% ABL)\u003C\u002Fp>\u003Cp>\u003Cimg alt=\"\" src=\"\u002Fstorage\u002Ffiis\u002Fdocumentos\u002F5472\u002Fpage_33_chart_12.jpg\">\u003C\u002Fp>\u003Ch3>SHOPPING PRAÇA DA MOÇA (3% DA CARTEIRA)\u003C\u002Fh3>\u003Cp>O Shopping Praça da Moça é o primeiro shopping center de Diadema, região metropolitana de São Paulo e tornouse referência como um polo de compras, lazer e serviços que visam facilitar o dia a dia dos clientes.\u003C\u002Fp>\u003Cp>Destacamos que foi inaugurada a Smart Fit em uma área de 1.240 m² localizada onde antes era área de estacionamento, o que gerou aumento da ABL total do shopping. Esta entrada contribui muito para a qualificação do mix de serviços e lazer do empreendimento, e, espera-se que irá gerar uma forte atração de fluxo de clientes, colaborando para a reversão do quadro de queda do fluxo de veículos apresentado desde a saída da última operação de academia do shopping.\u003C\u002Fp>\u003Cp>Movimentações comerciais: entradas da SP Pelúcias (69 m²) e Luna Gelato e Café (67 m²).\u003C\u002Fp>\u003Cp>Principais Operações: Riachuelo, C&A, Renner, Besni, Centauro, Dafyne, Magazine Luiza, Smart Fit, Mania de Churrasco e Outback.\u003C\u002Fp>\u003Cp>Endereço: R. Graciosa - Diadema, SP\u003C\u002Fp>\u003Cp>www.shoppingpracadamoca.com.br\u003C\u002Fp>\u003Cp>\u003Cimg alt=\"\" src=\"\u002Fstorage\u002Ffiis\u002Fdocumentos\u002F5472\u002Fpage_34_image_10.jpg\">\u003C\u002Fp>\u003Cp>\u003Cimg alt=\"\" src=\"\u002Fstorage\u002Ffiis\u002Fdocumentos\u002F5472\u002Fpage_34_image_11.jpg\">\u003C\u002Fp>\u003Cp>\u003Cimg alt=\"\" src=\"\u002Fstorage\u002Ffiis\u002Fdocumentos\u002F5472\u002Fpage_34_image_12.jpg\">\u003C\u002Fp>\u003Cp>\u003Cimg alt=\"\" src=\"\u002Fstorage\u002Ffiis\u002Fdocumentos\u002F5472\u002Fpage_34_image_13.jpg\">\u003C\u002Fp>\u003Cp>Fotos: Maurício Moreno.\u003C\u002Fp>\u003Cp>\u003Cimg alt=\"\" src=\"\u002Fstorage\u002Ffiis\u002Fdocumentos\u002F5472\u002Fpage_34_image_15.jpg\">\u003C\u002Fp>\u003Cp>SHOPPING PRAÇA DA MOÇA (3% DA CARTEIRA)\u003C\u002Fp>\u003Ctable>\u003Cthead>\u003Ctr>\u003Cth>Fluxo de Caixa 100% shopping\u003C\u002Fth>\u003Cth>Realizadodez-25\u003C\u002Fth>\u003Cth>Realizadodez-24\u003C\u002Fth>\u003Cth>Variação vs. dez-24\u003C\u002Fth>\u003Cth>Acum.dez-25\u003C\u002Fth>\u003Cth>Acum.dez-24\u003C\u002Fth>\u003Cth>Variação acum. a\u002Fa\u003C\u002Fth>\u003C\u002Ftr>\u003C\u002Fthead>\u003Ctbody>\u003Ctr>\u003Ctd>Aluguel mínimo\u003C\u002Ftd>\u003Ctd>2.187.903\u003C\u002Ftd>\u003Ctd>2.159.505\u003C\u002Ftd>\u003Ctd>1%\u003C\u002Ftd>\u003Ctd>29.177.676\u003C\u002Ftd>\u003Ctd>27.379.814\u003C\u002Ftd>\u003Ctd>7%\u003C\u002Ftd>\u003C\u002Ftr>\u003Ctr>\u003Ctd>Aluguel complementar\u003C\u002Ftd>\u003Ctd>155.725\u003C\u002Ftd>\u003Ctd>158.307\u003C\u002Ftd>\u003Ctd>-2%\u003C\u002Ftd>\u003Ctd>1.398.874\u003C\u002Ftd>\u003Ctd>1.344.501\u003C\u002Ftd>\u003Ctd>4%\u003C\u002Ftd>\u003C\u002Ftr>\u003Ctr>\u003Ctd>Aluguel quiosques\u002Fmídia\u002Feventos\u003C\u002Ftd>\u003Ctd>596.607\u003C\u002Ftd>\u003Ctd>630.679\u003C\u002Ftd>\u003Ctd>-5%\u003C\u002Ftd>\u003Ctd>5.082.557\u003C\u002Ftd>\u003Ctd>5.136.138\u003C\u002Ftd>\u003Ctd>-1%\u003C\u002Ftd>\u003C\u002Ftr>\u003Ctr>\u003Ctd>Outras receitas\u003C\u002Ftd>\u003Ctd>37.103\u003C\u002Ftd>\u003Ctd>42.257\u003C\u002Ftd>\u003Ctd>-12%\u003C\u002Ftd>\u003Ctd>697.061\u003C\u002Ftd>\u003Ctd>723.635\u003C\u002Ftd>\u003Ctd>-4%\u003C\u002Ftd>\u003C\u002Ftr>\u003Ctr>\u003Ctd>Receitas totais\u003C\u002Ftd>\u003Ctd>2.977.340\u003C\u002Ftd>\u003Ctd>2.990.748\u003C\u002Ftd>\u003Ctd>0%\u003C\u002Ftd>\u003Ctd>36.356.169\u003C\u002Ftd>\u003Ctd>34.584.087\u003C\u002Ftd>\u003Ctd>5%\u003C\u002Ftd>\u003C\u002Ftr>\u003Ctr>\u003Ctd>Encargos de lojas vagas e contratuais\u003C\u002Ftd>\u003Ctd>(61.947)\u003C\u002Ftd>\u003Ctd>(63.030)\u003C\u002Ftd>\u003Ctd>-2%\u003C\u002Ftd>\u003Ctd>(1.061.631)\u003C\u002Ftd>\u003Ctd>(955.893)\u003C\u002Ftd>\u003Ctd>11%\u003C\u002Ftd>\u003C\u002Ftr>\u003Ctr>\u003Ctd>Outras despesas\u003C\u002Ftd>\u003Ctd>(153.605)\u003C\u002Ftd>\u003Ctd>(153.972)\u003C\u002Ftd>\u003Ctd>0%\u003C\u002Ftd>\u003Ctd>(2.387.255)\u003C\u002Ftd>\u003Ctd>(2.541.927)\u003C\u002Ftd>\u003Ctd>-6%\u003C\u002Ftd>\u003C\u002Ftr>\u003Ctr>\u003Ctd>Despesas totais\u003C\u002Ftd>\u003Ctd>(215.552)\u003C\u002Ftd>\u003Ctd>(217.002)\u003C\u002Ftd>\u003Ctd>-1%\u003C\u002Ftd>\u003Ctd>(3.448.885)\u003C\u002Ftd>\u003Ctd>(3.497.819)\u003C\u002Ftd>\u003Ctd>-1%\u003C\u002Ftd>\u003C\u002Ftr>\u003Ctr>\u003Ctd>Resultado sem estacionamento\u003C\u002Ftd>\u003Ctd>2.761.788\u003C\u002Ftd>\u003Ctd>2.773.746\u003C\u002Ftd>\u003Ctd>0%\u003C\u002Ftd>\u003Ctd>32.907.284\u003C\u002Ftd>\u003Ctd>31.086.268\u003C\u002Ftd>\u003Ctd>6%\u003C\u002Ftd>\u003C\u002Ftr>\u003Ctr>\u003Ctd>Resultado estacionamento\u003C\u002Ftd>\u003Ctd>734.006\u003C\u002Ftd>\u003Ctd>709.510\u003C\u002Ftd>\u003Ctd>3%\u003C\u002Ftd>\u003Ctd>5.338.890\u003C\u002Ftd>\u003Ctd>5.339.300\u003C\u002Ftd>\u003Ctd>0%\u003C\u002Ftd>\u003C\u002Ftr>\u003Ctr>\u003Ctd>Resultado operacional (NOI)\u003C\u002Ftd>\u003Ctd>3.495.794\u003C\u002Ftd>\u003Ctd>3.483.256\u003C\u002Ftd>\u003Ctd>0%\u003C\u002Ftd>\u003Ctd>38.246.174\u003C\u002Ftd>\u003Ctd>36.425.569\u003C\u002Ftd>\u003Ctd>5%\u003C\u002Ftd>\u003C\u002Ftr>\u003Ctr>\u003Ctd>Benfeitorias\u003C\u002Ftd>\u003Ctd>-\u003C\u002Ftd>\u003Ctd>(175.000)\u003C\u002Ftd>\u003Ctd>-100%\u003C\u002Ftd>\u003Ctd>(103.407)\u003C\u002Ftd>\u003Ctd>(500.000)\u003C\u002Ftd>\u003Ctd>-79%\u003C\u002Ftd>\u003C\u002Ftr>\u003Ctr>\u003Ctd>Resultado não operacional\u003C\u002Ftd>\u003Ctd>-\u003C\u002Ftd>\u003Ctd>-\u003C\u002Ftd>\u003Ctd>-\u003C\u002Ftd>\u003Ctd>-\u003C\u002Ftd>\u003Ctd>-\u003C\u002Ftd>\u003Ctd>-\u003C\u002Ftd>\u003C\u002Ftr>\u003Ctr>\u003Ctd>Fluxo de caixa total\u003C\u002Ftd>\u003Ctd>3.495.794\u003C\u002Ftd>\u003Ctd>3.308.256\u003C\u002Ftd>\u003Ctd>6%\u003C\u002Ftd>\u003Ctd>38.142.767\u003C\u002Ftd>\u003Ctd>35.925.569\u003C\u002Ftd>\u003Ctd>6%\u003C\u002Ftd>\u003C\u002Ftr>\u003C\u002Ftbody>\u003C\u002Ftable>\u003Cp>VENDAS (R$ MM)\u003C\u002Fp>\u003Cp>\u003Cimg alt=\"\" src=\"\u002Fstorage\u002Ffiis\u002Fdocumentos\u002F5472\u002Fpage_35_chart_6.jpg\">\u003C\u002Fp>\u003Cp>FLUXO DE VEÍCULOS (‘000)\u003C\u002Fp>\u003Cp>\u003Cimg alt=\"\" src=\"\u002Fstorage\u002Ffiis\u002Fdocumentos\u002F5472\u002Fpage_35_chart_8.jpg\">\u003C\u002Fp>\u003Cp>INADIMPLÊNCIA LÍQUIDA 12M\u003C\u002Fp>\u003Cp>\u003Cimg alt=\"\" src=\"\u002Fstorage\u002Ffiis\u002Fdocumentos\u002F5472\u002Fpage_35_chart_10.jpg\">\u003C\u002Fp>\u003Cp>VACÂNCIA (% ABL)\u003C\u002Fp>\u003Cp>\u003Cimg alt=\"\" src=\"\u002Fstorage\u002Ffiis\u002Fdocumentos\u002F5472\u002Fpage_35_chart_12.jpg\">\u003C\u002Fp>\u003Ch3>SHOPPING JARAGUÁ ARARAQUARA (2% DA CARTEIRA)\u003C\u002Fh3>\u003Cp>Localizado em Araraquara - SP, cidade em intenso desenvolvimento, o Shopping Jaraguá Araraquara reúne uma arquitetura moderna a um ambiente acolhedor, sendo um dos principais destinos de compras, lazer e entretenimento da região.\u003C\u002Fp>\u003Cp>Movimentações comerciais: sem alterações.\u003C\u002Fp>\u003Ctable>\u003Cthead>\u003Ctr>\u003Cth>PARTICIPAÇÃO\u003C\u002Fth>\u003Cth>ABL TOTAL\u003C\u002Fth>\u003Cth>OPERAÇÕES\u003C\u002Fth>\u003Cth>INAUGURAÇÃO\u003C\u002Fth>\u003Cth>OPERADOR\u003C\u002Fth>\u003C\u002Ftr>\u003C\u002Fthead>\u003Ctbody>\u003Ctr>\u003Ctd>25%\u003C\u002Ftd>\u003Ctd>21,1 mil m²\u003C\u002Ftd>\u003Ctd>118\u003C\u002Ftd>\u003Ctd>2001\u003C\u002Ftd>\u003Ctd>WE9 + Hedge\u003C\u002Ftd>\u003C\u002Ftr>\u003C\u002Ftbody>\u003C\u002Ftable>\u003Cp>Principais Operações: Coco Bambu, Outback, Renner, Riachuelo, C&A, Caedu, Inova Academia, 1 a 99, Moviecom Cinemas, Cobasi, Polo Wear.\u003C\u002Fp>\u003Cp>Endereço: Av. Alberto Benassi, 2270 - Araraquara - SP\u003C\u002Fp>\u003Cp>shoppingjaragua.com.br\u002Fararaquara\u002F\u003C\u002Fp>\u003Cp>\u003Cimg alt=\"\" src=\"\u002Fstorage\u002Ffiis\u002Fdocumentos\u002F5472\u002Fpage_36_image_10.jpg\">\u003C\u002Fp>\u003Cp>\u003Cimg alt=\"\" src=\"\u002Fstorage\u002Ffiis\u002Fdocumentos\u002F5472\u002Fpage_36_image_11.jpg\">\u003C\u002Fp>\u003Cp>\u003Cimg alt=\"\" src=\"\u002Fstorage\u002Ffiis\u002Fdocumentos\u002F5472\u002Fpage_36_image_12.jpg\">\u003C\u002Fp>\u003Cp>\u003Cimg alt=\"\" src=\"\u002Fstorage\u002Ffiis\u002Fdocumentos\u002F5472\u002Fpage_36_image_13.jpg\">\u003C\u002Fp>\u003Cp>\u003Cimg alt=\"\" src=\"\u002Fstorage\u002Ffiis\u002Fdocumentos\u002F5472\u002Fpage_36_image_14.jpg\">\u003C\u002Fp>\u003Cp>SHOPPING JARAGUÁ ARARAQUARA (2% DA CARTEIRA)\u003C\u002Fp>\u003Ctable>\u003Cthead>\u003Ctr>\u003Cth>Fluxo de Caixa 100% shopping\u003C\u002Fth>\u003Cth>Realizadodez-25\u003C\u002Fth>\u003Cth>Realizadodez-24\u003C\u002Fth>\u003Cth>Variação vs. dez-24\u003C\u002Fth>\u003Cth>Acum.dez-25\u003C\u002Fth>\u003Cth>Acum.dez-24\u003C\u002Fth>\u003Cth>Variação acum. a\u002Fa\u003C\u002Fth>\u003C\u002Ftr>\u003C\u002Fthead>\u003Ctbody>\u003Ctr>\u003Ctd>Aluguel mínimo\u003C\u002Ftd>\u003Ctd>898.994\u003C\u002Ftd>\u003Ctd>724.071\u003C\u002Ftd>\u003Ctd>24%\u003C\u002Ftd>\u003Ctd>10.797.116\u003C\u002Ftd>\u003Ctd>9.891.819\u003C\u002Ftd>\u003Ctd>9%\u003C\u002Ftd>\u003C\u002Ftr>\u003Ctr>\u003Ctd>Aluguel complementar\u003C\u002Ftd>\u003Ctd>240.879\u003C\u002Ftd>\u003Ctd>289.445\u003C\u002Ftd>\u003Ctd>-17%\u003C\u002Ftd>\u003Ctd>2.388.951\u003C\u002Ftd>\u003Ctd>2.755.327\u003C\u002Ftd>\u003Ctd>-13%\u003C\u002Ftd>\u003C\u002Ftr>\u003Ctr>\u003Ctd>Aluguel quiosques\u002Fmídia\u002Feventos\u003C\u002Ftd>\u003Ctd>757.186\u003C\u002Ftd>\u003Ctd>572.201\u003C\u002Ftd>\u003Ctd>32%\u003C\u002Ftd>\u003Ctd>6.152.267\u003C\u002Ftd>\u003Ctd>4.968.828\u003C\u002Ftd>\u003Ctd>24%\u003C\u002Ftd>\u003C\u002Ftr>\u003Ctr>\u003Ctd>Outras receitas\u003C\u002Ftd>\u003Ctd>28.944\u003C\u002Ftd>\u003Ctd>24.421\u003C\u002Ftd>\u003Ctd>19%\u003C\u002Ftd>\u003Ctd>403.569\u003C\u002Ftd>\u003Ctd>420.292\u003C\u002Ftd>\u003Ctd>-4%\u003C\u002Ftd>\u003C\u002Ftr>\u003Ctr>\u003Ctd>Receitas totais\u003C\u002Ftd>\u003Ctd>1.926.003\u003C\u002Ftd>\u003Ctd>1.610.138\u003C\u002Ftd>\u003Ctd>20%\u003C\u002Ftd>\u003Ctd>19.741.903\u003C\u002Ftd>\u003Ctd>18.036.266\u003C\u002Ftd>\u003Ctd>9%\u003C\u002Ftd>\u003C\u002Ftr>\u003Ctr>\u003Ctd>Encargos de lojas vagas e contratuais\u003C\u002Ftd>\u003Ctd>(71.539)\u003C\u002Ftd>\u003Ctd>(84.844)\u003C\u002Ftd>\u003Ctd>-16%\u003C\u002Ftd>\u003Ctd>(970.066)\u003C\u002Ftd>\u003Ctd>(1.139.583)\u003C\u002Ftd>\u003Ctd>-15%\u003C\u002Ftd>\u003C\u002Ftr>\u003Ctr>\u003Ctd>Outras despesas\u003C\u002Ftd>\u003Ctd>(136.597)\u003C\u002Ftd>\u003Ctd>(104.602)\u003C\u002Ftd>\u003Ctd>31%\u003C\u002Ftd>\u003Ctd>(1.666.386)\u003C\u002Ftd>\u003Ctd>(1.461.238)\u003C\u002Ftd>\u003Ctd>14%\u003C\u002Ftd>\u003C\u002Ftr>\u003Ctr>\u003Ctd>Despesas totais\u003C\u002Ftd>\u003Ctd>(208.136)\u003C\u002Ftd>\u003Ctd>(189.446)\u003C\u002Ftd>\u003Ctd>10%\u003C\u002Ftd>\u003Ctd>(2.636.451)\u003C\u002Ftd>\u003Ctd>(2.600.821)\u003C\u002Ftd>\u003Ctd>1%\u003C\u002Ftd>\u003C\u002Ftr>\u003Ctr>\u003Ctd>Resultado sem estacionamento\u003C\u002Ftd>\u003Ctd>1.717.867\u003C\u002Ftd>\u003Ctd>1.420.693\u003C\u002Ftd>\u003Ctd>21%\u003C\u002Ftd>\u003Ctd>17.105.452\u003C\u002Ftd>\u003Ctd>15.435.445\u003C\u002Ftd>\u003Ctd>11%\u003C\u002Ftd>\u003C\u002Ftr>\u003Ctr>\u003Ctd>Resultado estacionamento\u003C\u002Ftd>\u003Ctd>559.708\u003C\u002Ftd>\u003Ctd>405.210\u003C\u002Ftd>\u003Ctd>38%\u003C\u002Ftd>\u003Ctd>5.487.580\u003C\u002Ftd>\u003Ctd>4.247.956\u003C\u002Ftd>\u003Ctd>29%\u003C\u002Ftd>\u003C\u002Ftr>\u003C\u002Ftbody>\u003C\u002Ftable>\u003Ctable>\u003Cthead>\u003Ctr>\u003Cth>Resultado operacional (NOI)\u003C\u002Fth>\u003Cth>2.277.575\u003C\u002Fth>\u003Cth>1.825.903\u003C\u002Fth>\u003Cth>25%\u003C\u002Fth>\u003Cth>22.593.032\u003C\u002Fth>\u003Cth>19.683.400\u003C\u002Fth>\u003Cth>15%\u003C\u002Fth>\u003C\u002Ftr>\u003C\u002Fthead>\u003Ctbody>\u003Ctr>\u003Ctd>Benfeitorias\u003C\u002Ftd>\u003Ctd>(98.570)\u003C\u002Ftd>\u003Ctd>(511.450)\u003C\u002Ftd>\u003Ctd>-81%\u003C\u002Ftd>\u003Ctd>(4.063.233)\u003C\u002Ftd>\u003Ctd>(2.538.302)\u003C\u002Ftd>\u003Ctd>60%\u003C\u002Ftd>\u003C\u002Ftr>\u003Ctr>\u003Ctd>Resultado não operacional\u003C\u002Ftd>\u003Ctd>(2.972)\u003C\u002Ftd>\u003Ctd>-\u003C\u002Ftd>\u003Ctd>-\u003C\u002Ftd>\u003Ctd>(98.777)\u003C\u002Ftd>\u003Ctd>-\u003C\u002Ftd>\u003Ctd>-\u003C\u002Ftd>\u003C\u002Ftr>\u003Ctr>\u003Ctd>Fluxo de caixa total\u003C\u002Ftd>\u003Ctd>2.176.033\u003C\u002Ftd>\u003Ctd>1.314.453\u003C\u002Ftd>\u003Ctd>66%\u003C\u002Ftd>\u003Ctd>18.431.022\u003C\u002Ftd>\u003Ctd>17.145.099\u003C\u002Ftd>\u003Ctd>8%\u003C\u002Ftd>\u003C\u002Ftr>\u003C\u002Ftbody>\u003C\u002Ftable>\u003Cp>VENDAS (R$ MM)\u003C\u002Fp>\u003Cp>\u003Cimg alt=\"\" src=\"\u002Fstorage\u002Ffiis\u002Fdocumentos\u002F5472\u002Fpage_37_chart_7.jpg\">\u003C\u002Fp>\u003Cp>FLUXO DE VEÍCULOS (‘000)\u003C\u002Fp>\u003Cp>\u003Cimg alt=\"\" src=\"\u002Fstorage\u002Ffiis\u002Fdocumentos\u002F5472\u002Fpage_37_chart_9.jpg\">\u003C\u002Fp>\u003Cp>INADIMPLÊNCIA LÍQUIDA 12M\u003C\u002Fp>\u003Cp>\u003Cimg alt=\"\" src=\"\u002Fstorage\u002Ffiis\u002Fdocumentos\u002F5472\u002Fpage_37_chart_11.jpg\">\u003C\u002Fp>\u003Cp>VACÂNCIA (% ABL)\u003C\u002Fp>\u003Cp>\u003Cimg alt=\"\" src=\"\u002Fstorage\u002Ffiis\u002Fdocumentos\u002F5472\u002Fpage_37_chart_13.jpg\">\u003C\u002Fp>\u003Ch3>SUZANO SHOPPING (0% DA CARTEIRA)\u003C\u002Fh3>\u003Cp>Localizado a apenas 40 km da cidade de São Paulo, o Suzano Shopping atende toda a região do Alto Tietê, o que significa uma população de mais de um milhão de habitantes. O acesso fácil pelas principais rodovias da região é um dos atrativos do shopping.\u003C\u002Fp>\u003Cp>Destacamos que a venda de 15% do Suzano Shopping será refletida nos indicadores operacionais de janeiro de 2026, ou seja, a partir do relatório gerencial de fevereiro de 2026.\u003C\u002Fp>\u003Cp>Movimentações comerciais: sem alterações.\u003C\u002Fp>\u003Ctable>\u003Cthead>\u003Ctr>\u003Cth>PARTICIPAÇÃO\u003C\u002Fth>\u003Cth>ABL TOTAL\u003C\u002Fth>\u003Cth>OPERAÇÕES\u003C\u002Fth>\u003Cth>INAUGURAÇÃO\u003C\u002Fth>\u003Cth>OPERADOR\u003C\u002Fth>\u003C\u002Ftr>\u003C\u002Fthead>\u003Ctbody>\u003Ctr>\u003Ctd>15,0%\u003C\u002Ftd>\u003Ctd>25,0 mil m²\u003C\u002Ftd>\u003Ctd>134\u003C\u002Ftd>\u003Ctd>2000\u003C\u002Ftd>\u003Ctd>HBR Realty\u003C\u002Ftd>\u003C\u002Ftr>\u003C\u002Ftbody>\u003C\u002Ftable>\u003Cp>Principais Operações: Renner, Centerplex, Centauro, C&A, Riachuelo, Magazine Luiza, Smart Fit e Outback. Endereço: R. Sete de Setembro, 555 – Suzano, SP www.suzanoshopping.com.br\u003C\u002Fp>\u003Cp>\u003Cimg alt=\"\" src=\"\u002Fstorage\u002Ffiis\u002Fdocumentos\u002F5472\u002Fpage_38_image_9.jpg\">\u003C\u002Fp>\u003Cp>\u003Cimg alt=\"\" src=\"\u002Fstorage\u002Ffiis\u002Fdocumentos\u002F5472\u002Fpage_38_image_10.jpg\">\u003C\u002Fp>\u003Cp>\u003Cimg alt=\"\" src=\"\u002Fstorage\u002Ffiis\u002Fdocumentos\u002F5472\u002Fpage_38_image_11.jpg\">\u003C\u002Fp>\u003Cp>\u003Cimg alt=\"\" src=\"\u002Fstorage\u002Ffiis\u002Fdocumentos\u002F5472\u002Fpage_38_image_12.jpg\">\u003C\u002Fp>\u003Cp>Fotos 2 a 4: Maurício Moreno; Foto 5: Fachada da Riachuelo.\u003C\u002Fp>\u003Cp>\u003Cimg alt=\"\" src=\"\u002Fstorage\u002Ffiis\u002Fdocumentos\u002F5472\u002Fpage_38_image_14.jpg\">\u003C\u002Fp>\u003Cp>SUZANO SHOPPING (0% DA CARTEIRA)\u003C\u002Fp>\u003Ctable>\u003Cthead>\u003Ctr>\u003Cth>Fluxo de Caixa 100% shopping\u003C\u002Fth>\u003Cth>Realizadodez-25\u003C\u002Fth>\u003Cth>Realizadodez-24\u003C\u002Fth>\u003Cth>Variação vs. dez-24\u003C\u002Fth>\u003Cth>Acum.dez-25\u003C\u002Fth>\u003Cth>Acum.dez-24\u003C\u002Fth>\u003Cth>Variação acum. a\u002Fa\u003C\u002Fth>\u003C\u002Ftr>\u003C\u002Fthead>\u003Ctbody>\u003Ctr>\u003Ctd>Aluguel mínimo\u003C\u002Ftd>\u003Ctd>1.707.059\u003C\u002Ftd>\u003Ctd>1.433.626\u003C\u002Ftd>\u003Ctd>19%\u003C\u002Ftd>\u003Ctd>18.114.895\u003C\u002Ftd>\u003Ctd>18.109.932\u003C\u002Ftd>\u003Ctd>0%\u003C\u002Ftd>\u003C\u002Ftr>\u003Ctr>\u003Ctd>Aluguel complementar\u003C\u002Ftd>\u003Ctd>234.451\u003C\u002Ftd>\u003Ctd>197.703\u003C\u002Ftd>\u003Ctd>19%\u003C\u002Ftd>\u003Ctd>2.479.577\u003C\u002Ftd>\u003Ctd>2.247.998\u003C\u002Ftd>\u003Ctd>10%\u003C\u002Ftd>\u003C\u002Ftr>\u003Ctr>\u003Ctd>Aluguel quiosques\u002Fmídia\u002Feventos\u003C\u002Ftd>\u003Ctd>581.098\u003C\u002Ftd>\u003Ctd>501.661\u003C\u002Ftd>\u003Ctd>16%\u003C\u002Ftd>\u003Ctd>4.399.457\u003C\u002Ftd>\u003Ctd>4.266.248\u003C\u002Ftd>\u003Ctd>3%\u003C\u002Ftd>\u003C\u002Ftr>\u003Ctr>\u003Ctd>Outras receitas\u003C\u002Ftd>\u003Ctd>821.546\u003C\u002Ftd>\u003Ctd>136.903\u003C\u002Ftd>\u003Ctd>500%\u003C\u002Ftd>\u003Ctd>2.258.431\u003C\u002Ftd>\u003Ctd>1.718.005\u003C\u002Ftd>\u003Ctd>31%\u003C\u002Ftd>\u003C\u002Ftr>\u003Ctr>\u003Ctd>Receitas totais\u003C\u002Ftd>\u003Ctd>3.344.155\u003C\u002Ftd>\u003Ctd>2.269.892\u003C\u002Ftd>\u003Ctd>47%\u003C\u002Ftd>\u003Ctd>27.252.359\u003C\u002Ftd>\u003Ctd>26.342.183\u003C\u002Ftd>\u003Ctd>3%\u003C\u002Ftd>\u003C\u002Ftr>\u003Ctr>\u003Ctd>Encargos de lojas vagas e contratuais\u003C\u002Ftd>\u003Ctd>(124.047)\u003C\u002Ftd>\u003Ctd>(34.984)\u003C\u002Ftd>\u003Ctd>255%\u003C\u002Ftd>\u003Ctd>(980.526)\u003C\u002Ftd>\u003Ctd>(965.175)\u003C\u002Ftd>\u003Ctd>2%\u003C\u002Ftd>\u003C\u002Ftr>\u003Ctr>\u003Ctd>Outras despesas\u003C\u002Ftd>\u003Ctd>(203.880)\u003C\u002Ftd>\u003Ctd>(143.141)\u003C\u002Ftd>\u003Ctd>42%\u003C\u002Ftd>\u003Ctd>(3.006.309)\u003C\u002Ftd>\u003Ctd>(2.558.738)\u003C\u002Ftd>\u003Ctd>17%\u003C\u002Ftd>\u003C\u002Ftr>\u003Ctr>\u003Ctd>Despesas totais\u003C\u002Ftd>\u003Ctd>(327.927)\u003C\u002Ftd>\u003Ctd>(178.125)\u003C\u002Ftd>\u003Ctd>84%\u003C\u002Ftd>\u003Ctd>(3.986.836)\u003C\u002Ftd>\u003Ctd>(3.523.912)\u003C\u002Ftd>\u003Ctd>13%\u003C\u002Ftd>\u003C\u002Ftr>\u003Ctr>\u003Ctd>Resultado sem estacionamento\u003C\u002Ftd>\u003Ctd>3.016.228\u003C\u002Ftd>\u003Ctd>2.091.767\u003C\u002Ftd>\u003Ctd>44%\u003C\u002Ftd>\u003Ctd>23.265.523\u003C\u002Ftd>\u003Ctd>22.818.271\u003C\u002Ftd>\u003Ctd>2%\u003C\u002Ftd>\u003C\u002Ftr>\u003Ctr>\u003Ctd>Resultado estacionamento\u003C\u002Ftd>\u003Ctd>1.066.013\u003C\u002Ftd>\u003Ctd>808.310\u003C\u002Ftd>\u003Ctd>32%\u003C\u002Ftd>\u003Ctd>7.332.659\u003C\u002Ftd>\u003Ctd>6.451.379\u003C\u002Ftd>\u003Ctd>14%\u003C\u002Ftd>\u003C\u002Ftr>\u003Ctr>\u003Ctd>Resultado operacional (NOI)\u003C\u002Ftd>\u003Ctd>4.082.241\u003C\u002Ftd>\u003Ctd>2.900.077\u003C\u002Ftd>\u003Ctd>41%\u003C\u002Ftd>\u003Ctd>30.598.182\u003C\u002Ftd>\u003Ctd>29.269.649\u003C\u002Ftd>\u003Ctd>5%\u003C\u002Ftd>\u003C\u002Ftr>\u003Ctr>\u003Ctd>Benfeitorias\u003C\u002Ftd>\u003Ctd>(781.202)\u003C\u002Ftd>\u003Ctd>(1.827.708)\u003C\u002Ftd>\u003Ctd>-57%\u003C\u002Ftd>\u003Ctd>(6.177.363)\u003C\u002Ftd>\u003Ctd>(5.278.804)\u003C\u002Ftd>\u003Ctd>17%\u003C\u002Ftd>\u003C\u002Ftr>\u003Ctr>\u003Ctd>Resultado não operacional\u003C\u002Ftd>\u003Ctd>-\u003C\u002Ftd>\u003Ctd>-\u003C\u002Ftd>\u003Ctd>-\u003C\u002Ftd>\u003Ctd>-\u003C\u002Ftd>\u003Ctd>-\u003C\u002Ftd>\u003Ctd>-\u003C\u002Ftd>\u003C\u002Ftr>\u003Ctr>\u003Ctd>Fluxo de caixa total\u003C\u002Ftd>\u003Ctd>3.301.039\u003C\u002Ftd>\u003Ctd>1.072.370\u003C\u002Ftd>\u003Ctd>208%\u003C\u002Ftd>\u003Ctd>24.420.820\u003C\u002Ftd>\u003Ctd>23.990.845\u003C\u002Ftd>\u003Ctd>2%\u003C\u002Ftd>\u003C\u002Ftr>\u003C\u002Ftbody>\u003C\u002Ftable>\u003Cp>VENDAS (R$ MM)\u003C\u002Fp>\u003Cp>\u003Cimg alt=\"\" src=\"\u002Fstorage\u002Ffiis\u002Fdocumentos\u002F5472\u002Fpage_39_chart_6.jpg\">\u003C\u002Fp>\u003Cp>FLUXO DE VEÍCULOS (‘000)\u003C\u002Fp>\u003Cp>\u003Cimg alt=\"\" src=\"\u002Fstorage\u002Ffiis\u002Fdocumentos\u002F5472\u002Fpage_39_chart_8.jpg\">\u003C\u002Fp>\u003Cp>INADIMPLÊNCIA LÍQUIDA 12M\u003C\u002Fp>\u003Cp>\u003Cimg alt=\"\" src=\"\u002Fstorage\u002Ffiis\u002Fdocumentos\u002F5472\u002Fpage_39_chart_10.jpg\">\u003C\u002Fp>\u003Cp>VACÂNCIA (% ABL)\u003C\u002Fp>\u003Cp>\u003Cimg alt=\"\" src=\"\u002Fstorage\u002Ffiis\u002Fdocumentos\u002F5472\u002Fpage_39_chart_12.jpg\">\u003C\u002Fp>\u003Ch3>PARTAGE SANTANA SHOPPING (2% DA CARTEIRA)\u003C\u002Fh3>\u003Cp>Localizado no coração da Zona Norte, com grande influência econômica e cultural, o Partage Santana Shopping reúne comodidade, conforto e um mix variado de produtos e serviços.\u003C\u002Fp>\u003Cp>Movimentações comerciais: saídas da Mundo Verde (47 m²) e Hope (36 m²).\u003C\u002Fp>\u003Cp>PARTICIPAÇÃO ABL TOTAL OPERAÇÕES INAUGURAÇÃO OPERADOR \u003Cstrong>15,0% 26,7 mil m² 165 2007 Partage\u003C\u002Fstrong>\u003C\u002Fp>\u003Cp>Principais Operações: Renner, UCI, Centauro, C&A, Riachuelo, Outback e Bio Ritmo.\u003C\u002Fp>\u003Cp>Endereço: R. Conselheiro Moreira de Barros, 2.780 – São Paulo, SP\u003C\u002Fp>\u003Cp>partagesantana.com.br\u002F\u003C\u002Fp>\u003Cp>\u003Cimg alt=\"\" src=\"\u002Fstorage\u002Ffiis\u002Fdocumentos\u002F5472\u002Fpage_40_image_10.jpg\">\u003C\u002Fp>\u003Cp>\u003Cimg alt=\"\" src=\"\u002Fstorage\u002Ffiis\u002Fdocumentos\u002F5472\u002Fpage_40_image_11.jpg\">\u003C\u002Fp>\u003Cp>\u003Cimg alt=\"\" src=\"\u002Fstorage\u002Ffiis\u002Fdocumentos\u002F5472\u002Fpage_40_image_12.jpg\">\u003C\u002Fp>\u003Cp>\u003Cimg alt=\"\" src=\"\u002Fstorage\u002Ffiis\u002Fdocumentos\u002F5472\u002Fpage_40_image_13.jpg\">\u003C\u002Fp>\u003Cp>Fotos: Maurício Moreno.\u003C\u002Fp>\u003Cp>\u003Cimg alt=\"\" src=\"\u002Fstorage\u002Ffiis\u002Fdocumentos\u002F5472\u002Fpage_40_image_15.jpg\">\u003C\u002Fp>\u003Cp>PARTAGE SANTANA SHOPPING (2% DA CARTEIRA)\u003C\u002Fp>\u003Ctable>\u003Cthead>\u003Ctr>\u003Cth>Fluxo de Caixa 100% shopping\u003C\u002Fth>\u003Cth>Realizadodez-25\u003C\u002Fth>\u003Cth>Realizadodez-24\u003C\u002Fth>\u003Cth>Variação vs. dez-24\u003C\u002Fth>\u003Cth>Acum.dez-25\u003C\u002Fth>\u003Cth>Acum.dez-24\u003C\u002Fth>\u003Cth>Variação acum. a\u002Fa\u003C\u002Fth>\u003C\u002Ftr>\u003C\u002Fthead>\u003Ctbody>\u003Ctr>\u003Ctd>Aluguel mínimo\u003C\u002Ftd>\u003Ctd>1.611.032\u003C\u002Ftd>\u003Ctd>1.757.485\u003C\u002Ftd>\u003Ctd>-8%\u003C\u002Ftd>\u003Ctd>19.785.890\u003C\u002Ftd>\u003Ctd>18.561.899\u003C\u002Ftd>\u003Ctd>7%\u003C\u002Ftd>\u003C\u002Ftr>\u003Ctr>\u003Ctd>Aluguel complementar\u003C\u002Ftd>\u003Ctd>322.778\u003C\u002Ftd>\u003Ctd>305.754\u003C\u002Ftd>\u003Ctd>6%\u003C\u002Ftd>\u003Ctd>3.476.908\u003C\u002Ftd>\u003Ctd>2.884.923\u003C\u002Ftd>\u003Ctd>21%\u003C\u002Ftd>\u003C\u002Ftr>\u003Ctr>\u003Ctd>Aluguel quiosques\u002Fmídia\u002Feventos\u003C\u002Ftd>\u003Ctd>508.418\u003C\u002Ftd>\u003Ctd>793.137\u003C\u002Ftd>\u003Ctd>-36%\u003C\u002Ftd>\u003Ctd>4.547.410\u003C\u002Ftd>\u003Ctd>4.510.852\u003C\u002Ftd>\u003Ctd>1%\u003C\u002Ftd>\u003C\u002Ftr>\u003Ctr>\u003Ctd>Outras receitas\u003C\u002Ftd>\u003Ctd>98.264\u003C\u002Ftd>\u003Ctd>147.957\u003C\u002Ftd>\u003Ctd>-34%\u003C\u002Ftd>\u003Ctd>823.350\u003C\u002Ftd>\u003Ctd>496.655\u003C\u002Ftd>\u003Ctd>66%\u003C\u002Ftd>\u003C\u002Ftr>\u003Ctr>\u003Ctd>Receitas totais\u003C\u002Ftd>\u003Ctd>2.540.492\u003C\u002Ftd>\u003Ctd>3.004.333\u003C\u002Ftd>\u003Ctd>-15%\u003C\u002Ftd>\u003Ctd>28.633.558\u003C\u002Ftd>\u003Ctd>26.454.329\u003C\u002Ftd>\u003Ctd>8%\u003C\u002Ftd>\u003C\u002Ftr>\u003Ctr>\u003Ctd>Encargos de lojas vagas e contratuais\u003C\u002Ftd>\u003Ctd>(2.384)\u003C\u002Ftd>\u003Ctd>(163.864)\u003C\u002Ftd>\u003Ctd>-99%\u003C\u002Ftd>\u003Ctd>(1.395.086)\u003C\u002Ftd>\u003Ctd>(2.658.901)\u003C\u002Ftd>\u003Ctd>-48%\u003C\u002Ftd>\u003C\u002Ftr>\u003Ctr>\u003Ctd>Outras despesas\u003C\u002Ftd>\u003Ctd>(194.768)\u003C\u002Ftd>\u003Ctd>(512.247)\u003C\u002Ftd>\u003Ctd>-62%\u003C\u002Ftd>\u003Ctd>(3.409.103)\u003C\u002Ftd>\u003Ctd>(3.943.914)\u003C\u002Ftd>\u003Ctd>-14%\u003C\u002Ftd>\u003C\u002Ftr>\u003Ctr>\u003Ctd>Despesas totais\u003C\u002Ftd>\u003Ctd>(197.152)\u003C\u002Ftd>\u003Ctd>(676.111)\u003C\u002Ftd>\u003Ctd>-71%\u003C\u002Ftd>\u003Ctd>(4.804.189)\u003C\u002Ftd>\u003Ctd>(6.602.815)\u003C\u002Ftd>\u003Ctd>-27%\u003C\u002Ftd>\u003C\u002Ftr>\u003Ctr>\u003Ctd>Resultado sem estacionamento\u003C\u002Ftd>\u003Ctd>2.343.340\u003C\u002Ftd>\u003Ctd>2.328.222\u003C\u002Ftd>\u003Ctd>1%\u003C\u002Ftd>\u003Ctd>23.829.369\u003C\u002Ftd>\u003Ctd>19.851.513\u003C\u002Ftd>\u003Ctd>20%\u003C\u002Ftd>\u003C\u002Ftr>\u003Ctr>\u003Ctd>Resultado estacionamento\u003C\u002Ftd>\u003Ctd>674.513\u003C\u002Ftd>\u003Ctd>562.933\u003C\u002Ftd>\u003Ctd>20%\u003C\u002Ftd>\u003Ctd>8.801.206\u003C\u002Ftd>\u003Ctd>7.385.261\u003C\u002Ftd>\u003Ctd>19%\u003C\u002Ftd>\u003C\u002Ftr>\u003C\u002Ftbody>\u003C\u002Ftable>\u003Ctable>\u003Cthead>\u003Ctr>\u003Cth>Resultado operacional (NOI)\u003C\u002Fth>\u003Cth>3.017.853\u003C\u002Fth>\u003Cth>2.891.156\u003C\u002Fth>\u003Cth>4%\u003C\u002Fth>\u003Cth>32.630.575\u003C\u002Fth>\u003Cth>27.236.775\u003C\u002Fth>\u003Cth>20%\u003C\u002Fth>\u003C\u002Ftr>\u003C\u002Fthead>\u003Ctbody>\u003Ctr>\u003Ctd>Benfeitorias\u003C\u002Ftd>\u003Ctd>(109.862)\u003C\u002Ftd>\u003Ctd>(506.750)\u003C\u002Ftd>\u003Ctd>-78%\u003C\u002Ftd>\u003Ctd>(2.148.307)\u003C\u002Ftd>\u003Ctd>(3.060.632)\u003C\u002Ftd>\u003Ctd>-30%\u003C\u002Ftd>\u003C\u002Ftr>\u003Ctr>\u003Ctd>Resultado não operacional\u003C\u002Ftd>\u003Ctd>(114.425)\u003C\u002Ftd>\u003Ctd>-\u003C\u002Ftd>\u003Ctd>-\u003C\u002Ftd>\u003Ctd>(1.752.173)\u003C\u002Ftd>\u003Ctd>(144.800)\u003C\u002Ftd>\u003Ctd>1110%\u003C\u002Ftd>\u003C\u002Ftr>\u003Ctr>\u003Ctd>Fluxo de caixa total\u003C\u002Ftd>\u003Ctd>2.793.565\u003C\u002Ftd>\u003Ctd>2.384.405\u003C\u002Ftd>\u003Ctd>17%\u003C\u002Ftd>\u003Ctd>28.730.095\u003C\u002Ftd>\u003Ctd>24.031.343\u003C\u002Ftd>\u003Ctd>20%\u003C\u002Ftd>\u003C\u002Ftr>\u003C\u002Ftbody>\u003C\u002Ftable>\u003Cp>VENDAS (R$ MM)\u003C\u002Fp>\u003Cp>\u003Cimg alt=\"\" src=\"\u002Fstorage\u002Ffiis\u002Fdocumentos\u002F5472\u002Fpage_41_chart_7.jpg\">\u003C\u002Fp>\u003Cp>FLUXO DE VEÍCULOS (‘000)\u003C\u002Fp>\u003Cp>\u003Cimg alt=\"\" src=\"\u002Fstorage\u002Ffiis\u002Fdocumentos\u002F5472\u002Fpage_41_chart_9.jpg\">\u003C\u002Fp>\u003Cp>INADIMPLÊNCIA LÍQUIDA 12M\u003C\u002Fp>\u003Cp>\u003Cimg alt=\"\" src=\"\u002Fstorage\u002Ffiis\u002Fdocumentos\u002F5472\u002Fpage_41_chart_11.jpg\">\u003C\u002Fp>\u003Cp>VACÂNCIA (% ABL)\u003C\u002Fp>\u003Cp>\u003Cimg alt=\"\" src=\"\u002Fstorage\u002Ffiis\u002Fdocumentos\u002F5472\u002Fpage_41_chart_13.jpg\">\u003C\u002Fp>\u003Ch3>I FASHION OUTLET (2% DA CARTEIRA)\u003C\u002Fh3>\u003Cp>O I Fashion Outlet Novo Hamburgo, reconhecido pela qualificação de seu mix de lojistas, consolidou ainda mais esta posição e vem sendo destaque desde 2019, com diversas inaugurações e com isso mantendo a vacância em patamares historicamente baixos, inclusive em relação ao período pré pandemia.\u003C\u002Fp>\u003Cp>Movimentações comerciais: saída da Femoto (104 m²).\u003C\u002Fp>\u003Ctable>\u003Cthead>\u003Ctr>\u003Cth>PARTICIPAÇÃO\u003C\u002Fth>\u003Cth>ABL TOTAL\u003C\u002Fth>\u003Cth>OPERAÇÕES\u003C\u002Fth>\u003Cth>INAUGURAÇÃO\u003C\u002Fth>\u003Cth>OPERADOR\u003C\u002Fth>\u003C\u002Ftr>\u003C\u002Fthead>\u003Ctbody>\u003Ctr>\u003Ctd>18,4%\u003C\u002Ftd>\u003Ctd>20,1 mil m²\u003C\u002Ftd>\u003Ctd>92\u003C\u002Ftd>\u003Ctd>2013\u003C\u002Ftd>\u003Ctd>Iguatemi\u003C\u002Ftd>\u003C\u002Ftr>\u003C\u002Ftbody>\u003C\u002Ftable>\u003Cp>Principais Operações: Nike Outlet, Adidas, Puma, Hugo Boss, Calvin Klein, Diesel, Dolce & Gabbana e Tommy Hilfiger\u003C\u002Fp>\u003Cp>Endereço: Rodovia BR 116 Km 239 – Novo Hamburgo, RS\u003C\u002Fp>\u003Cp>iguatemi.com.br\u002Fifashionoutletnh\u003C\u002Fp>\u003Cp>\u003Cimg alt=\"\" src=\"\u002Fstorage\u002Ffiis\u002Fdocumentos\u002F5472\u002Fpage_42_image_10.jpg\">\u003C\u002Fp>\u003Cp>\u003Cimg alt=\"\" src=\"\u002Fstorage\u002Ffiis\u002Fdocumentos\u002F5472\u002Fpage_42_image_11.jpg\">\u003C\u002Fp>\u003Cp>\u003Cimg alt=\"\" src=\"\u002Fstorage\u002Ffiis\u002Fdocumentos\u002F5472\u002Fpage_42_image_12.jpg\">\u003C\u002Fp>\u003Cp>\u003Cimg alt=\"\" src=\"\u002Fstorage\u002Ffiis\u002Fdocumentos\u002F5472\u002Fpage_42_image_13.jpg\">\u003C\u002Fp>\u003Cp>\u003Cimg alt=\"\" src=\"\u002Fstorage\u002Ffiis\u002Fdocumentos\u002F5472\u002Fpage_42_image_14.jpg\">\u003C\u002Fp>\u003Cp>I FASHION OUTLET (2% DA CARTEIRA)\u003C\u002Fp>\u003Ctable>\u003Cthead>\u003Ctr>\u003Cth>Fluxo de Caixa 100% shopping\u003C\u002Fth>\u003Cth>Realizadodez-25\u003C\u002Fth>\u003Cth>Realizadodez-24\u003C\u002Fth>\u003Cth>Variação vs. dez-24\u003C\u002Fth>\u003Cth>Acum.dez-25\u003C\u002Fth>\u003Cth>Acum.dez-24\u003C\u002Fth>\u003Cth>Variação acum. a\u002Fa\u003C\u002Fth>\u003C\u002Ftr>\u003C\u002Fthead>\u003Ctbody>\u003Ctr>\u003Ctd>Aluguel mínimo\u003C\u002Ftd>\u003Ctd>1.486.364\u003C\u002Ftd>\u003Ctd>1.380.315\u003C\u002Ftd>\u003Ctd>8%\u003C\u002Ftd>\u003Ctd>15.427.902\u003C\u002Ftd>\u003Ctd>13.979.048\u003C\u002Ftd>\u003Ctd>10%\u003C\u002Ftd>\u003C\u002Ftr>\u003Ctr>\u003Ctd>Aluguel complementar\u003C\u002Ftd>\u003Ctd>1.096.011\u003C\u002Ftd>\u003Ctd>851.900\u003C\u002Ftd>\u003Ctd>29%\u003C\u002Ftd>\u003Ctd>6.197.845\u003C\u002Ftd>\u003Ctd>5.513.088\u003C\u002Ftd>\u003Ctd>12%\u003C\u002Ftd>\u003C\u002Ftr>\u003Ctr>\u003Ctd>Aluguel quiosques\u002Fmídia\u002Feventos\u003C\u002Ftd>\u003Ctd>211.346\u003C\u002Ftd>\u003Ctd>211.160\u003C\u002Ftd>\u003Ctd>0%\u003C\u002Ftd>\u003Ctd>1.874.821\u003C\u002Ftd>\u003Ctd>1.527.752\u003C\u002Ftd>\u003Ctd>23%\u003C\u002Ftd>\u003C\u002Ftr>\u003Ctr>\u003Ctd>Outras receitas\u003C\u002Ftd>\u003Ctd>40.554\u003C\u002Ftd>\u003Ctd>23.317\u003C\u002Ftd>\u003Ctd>74%\u003C\u002Ftd>\u003Ctd>496.820\u003C\u002Ftd>\u003Ctd>442.236\u003C\u002Ftd>\u003Ctd>12%\u003C\u002Ftd>\u003C\u002Ftr>\u003Ctr>\u003Ctd>Receitas totais\u003C\u002Ftd>\u003Ctd>2.834.275\u003C\u002Ftd>\u003Ctd>2.466.692\u003C\u002Ftd>\u003Ctd>15%\u003C\u002Ftd>\u003Ctd>23.997.389\u003C\u002Ftd>\u003Ctd>21.462.125\u003C\u002Ftd>\u003Ctd>12%\u003C\u002Ftd>\u003C\u002Ftr>\u003Ctr>\u003Ctd>Encargos de lojas vagas e contratuais\u003C\u002Ftd>\u003Ctd>(88.273)\u003C\u002Ftd>\u003Ctd>(87.928)\u003C\u002Ftd>\u003Ctd>0%\u003C\u002Ftd>\u003Ctd>(902.138)\u003C\u002Ftd>\u003Ctd>(708.613)\u003C\u002Ftd>\u003Ctd>27%\u003C\u002Ftd>\u003C\u002Ftr>\u003Ctr>\u003Ctd>Outras despesas\u003C\u002Ftd>\u003Ctd>(272.130)\u003C\u002Ftd>\u003Ctd>(272.944)\u003C\u002Ftd>\u003Ctd>0%\u003C\u002Ftd>\u003Ctd>(2.228.324)\u003C\u002Ftd>\u003Ctd>(1.956.023)\u003C\u002Ftd>\u003Ctd>14%\u003C\u002Ftd>\u003C\u002Ftr>\u003Ctr>\u003Ctd>Despesas totais\u003C\u002Ftd>\u003Ctd>(360.403)\u003C\u002Ftd>\u003Ctd>(360.872)\u003C\u002Ftd>\u003Ctd>0%\u003C\u002Ftd>\u003Ctd>(3.130.462)\u003C\u002Ftd>\u003Ctd>(2.664.637)\u003C\u002Ftd>\u003Ctd>17%\u003C\u002Ftd>\u003C\u002Ftr>\u003Ctr>\u003Ctd>Resultado sem estacionamento\u003C\u002Ftd>\u003Ctd>2.473.872\u003C\u002Ftd>\u003Ctd>2.105.820\u003C\u002Ftd>\u003Ctd>17%\u003C\u002Ftd>\u003Ctd>20.866.927\u003C\u002Ftd>\u003Ctd>18.797.488\u003C\u002Ftd>\u003Ctd>11%\u003C\u002Ftd>\u003C\u002Ftr>\u003Ctr>\u003Ctd>Resultado estacionamento\u003C\u002Ftd>\u003Ctd>586.732\u003C\u002Ftd>\u003Ctd>328.327\u003C\u002Ftd>\u003Ctd>79%\u003C\u002Ftd>\u003Ctd>4.602.567\u003C\u002Ftd>\u003Ctd>2.002.912\u003C\u002Ftd>\u003Ctd>130%\u003C\u002Ftd>\u003C\u002Ftr>\u003Ctr>\u003Ctd>Resultado operacional (NOI)\u003C\u002Ftd>\u003Ctd>3.060.604\u003C\u002Ftd>\u003Ctd>2.434.147\u003C\u002Ftd>\u003Ctd>26%\u003C\u002Ftd>\u003Ctd>25.469.494\u003C\u002Ftd>\u003Ctd>20.800.400\u003C\u002Ftd>\u003Ctd>22%\u003C\u002Ftd>\u003C\u002Ftr>\u003Ctr>\u003Ctd>Benfeitorias\u003C\u002Ftd>\u003Ctd>(307.039)\u003C\u002Ftd>\u003Ctd>(349.715)\u003C\u002Ftd>\u003Ctd>-12%\u003C\u002Ftd>\u003Ctd>(1.092.564)\u003C\u002Ftd>\u003Ctd>(2.206.812)\u003C\u002Ftd>\u003Ctd>-50%\u003C\u002Ftd>\u003C\u002Ftr>\u003Ctr>\u003Ctd>Resultado não operacional\u003C\u002Ftd>\u003Ctd>6.670\u003C\u002Ftd>\u003Ctd>149.944\u003C\u002Ftd>\u003Ctd>-96%\u003C\u002Ftd>\u003Ctd>(3.624)\u003C\u002Ftd>\u003Ctd>(273.352)\u003C\u002Ftd>\u003Ctd>-99%\u003C\u002Ftd>\u003C\u002Ftr>\u003Ctr>\u003Ctd>Fluxo de caixa total\u003C\u002Ftd>\u003Ctd>2.760.235\u003C\u002Ftd>\u003Ctd>2.234.377\u003C\u002Ftd>\u003Ctd>24%\u003C\u002Ftd>\u003Ctd>24.373.306\u003C\u002Ftd>\u003Ctd>18.320.236\u003C\u002Ftd>\u003Ctd>33%\u003C\u002Ftd>\u003C\u002Ftr>\u003C\u002Ftbody>\u003C\u002Ftable>\u003Cp>VENDAS (R$ MM)\u003C\u002Fp>\u003Cp>\u003Cimg alt=\"\" src=\"\u002Fstorage\u002Ffiis\u002Fdocumentos\u002F5472\u002Fpage_43_chart_6.jpg\">\u003C\u002Fp>\u003Cp>FLUXO DE VEÍCULOS (‘000)\u003C\u002Fp>\u003Cp>\u003Cimg alt=\"\" src=\"\u002Fstorage\u002Ffiis\u002Fdocumentos\u002F5472\u002Fpage_43_chart_8.jpg\">\u003C\u002Fp>\u003Cp>INADIMPLÊNCIA LÍQUIDA 12M\u003C\u002Fp>\u003Cp>\u003Cimg alt=\"\" src=\"\u002Fstorage\u002Ffiis\u002Fdocumentos\u002F5472\u002Fpage_43_chart_10.jpg\">\u003C\u002Fp>\u003Cp>VACÂNCIA (% ABL)\u003C\u002Fp>\u003Cp>\u003Cimg alt=\"\" src=\"\u002Fstorage\u002Ffiis\u002Fdocumentos\u002F5472\u002Fpage_43_chart_12.jpg\">\u003C\u002Fp>\u003Ch3>GOIABEIRAS SHOPPING CENTER (0,5% DA CARTEIRA)\u003C\u002Fh3>\u003Cp>O Goiabeiras Shopping Center foi primeiro shopping do estado de Mato Grosso, é um dos principais centros de compras da capital. Esta característica tem como base seu foco em qualidade, atendimento e sua localização privilegiada, na região mais charmosa de Cuiabá.\u003C\u002Fp>\u003Cp>Movimentações comerciais: sem alterações.\u003C\u002Fp>\u003Ctable>\u003Ctr>\u003Ctd>PARTICIPAÇÃO 54,0%\u003C\u002Ftd>\u003Ctd>ABL TOTAL 26,3 mil m²\u003C\u002Ftd>\u003Ctd>OPERAÇÕES 166\u003C\u002Ftd>\u003Ctd>INAUGURAÇÃO 1989\u003C\u002Ftd>\u003Ctd>OPERADOR Soul Malls\u003C\u002Ftd>\u003C\u002Ftr>\u003Ctr>\u003Ctd colspan=\"7\">Principais Operações: Bodytech, Cinelaser, Vivara, Track & Field, Kitchens (a inaugurar), Le Lis Blanc, John John, Dudalina, Brooksfield, Avenida, Animale, Osklen, Maison Paris, Peixe ao Cubo, Sebrae.\u003C\u002Ftd>\u003C\u002Ftr>\u003Ctr>\u003Ctd colspan=\"6\">Endereço: Av. José Monteiro de Figueiredo, 500 – Cuiabá, MT www.goiabeirasshopping.com.br\u003C\u002Ftd>\u003C\u002Ftr>\u003C\u002Ftable>\u003Cp>\u003Cimg alt=\"\" src=\"\u002Fstorage\u002Ffiis\u002Fdocumentos\u002F5472\u002Fpage_44_image_7.jpg\">\u003C\u002Fp>\u003Cp>GOIABEIRAS SHOPPING CENTER (0,5% DA CARTEIRA)\u003C\u002Fp>\u003Ctable>\u003Cthead>\u003Ctr>\u003Cth>Fluxo de Caixa 100% shopping\u003C\u002Fth>\u003Cth>Realizadodez-25\u003C\u002Fth>\u003Cth>Realizadodez-24\u003C\u002Fth>\u003Cth>Variação vs. dez-24\u003C\u002Fth>\u003Cth>Acum.dez-25\u003C\u002Fth>\u003Cth>Acum.dez-24\u003C\u002Fth>\u003Cth>Variação acum. a\u002Fa\u003C\u002Fth>\u003C\u002Ftr>\u003C\u002Fthead>\u003Ctbody>\u003Ctr>\u003Ctd>Aluguel mínimo\u003C\u002Ftd>\u003Ctd>228.547\u003C\u002Ftd>\u003Ctd>177.421\u003C\u002Ftd>\u003Ctd>29%\u003C\u002Ftd>\u003Ctd>2.451.353\u003C\u002Ftd>\u003Ctd>2.605.840\u003C\u002Ftd>\u003Ctd>-6%\u003C\u002Ftd>\u003C\u002Ftr>\u003Ctr>\u003Ctd>Aluguel complementar\u003C\u002Ftd>\u003Ctd>68.656\u003C\u002Ftd>\u003Ctd>76.990\u003C\u002Ftd>\u003Ctd>-11%\u003C\u002Ftd>\u003Ctd>1.057.379\u003C\u002Ftd>\u003Ctd>1.163.551\u003C\u002Ftd>\u003Ctd>-9%\u003C\u002Ftd>\u003C\u002Ftr>\u003Ctr>\u003Ctd>Aluguel quiosques\u002Fmídia\u002Feventos\u003C\u002Ftd>\u003Ctd>96.417\u003C\u002Ftd>\u003Ctd>86.166\u003C\u002Ftd>\u003Ctd>12%\u003C\u002Ftd>\u003Ctd>1.093.587\u003C\u002Ftd>\u003Ctd>989.794\u003C\u002Ftd>\u003Ctd>10%\u003C\u002Ftd>\u003C\u002Ftr>\u003Ctr>\u003Ctd>Outras receitas\u003C\u002Ftd>\u003Ctd>374\u003C\u002Ftd>\u003Ctd>-\u003C\u002Ftd>\u003Ctd>-\u003C\u002Ftd>\u003Ctd>28.294\u003C\u002Ftd>\u003Ctd>311.518\u003C\u002Ftd>\u003Ctd>-91%\u003C\u002Ftd>\u003C\u002Ftr>\u003Ctr>\u003Ctd>Receitas totais\u003C\u002Ftd>\u003Ctd>393.994\u003C\u002Ftd>\u003Ctd>340.577\u003C\u002Ftd>\u003Ctd>16%\u003C\u002Ftd>\u003Ctd>4.630.612\u003C\u002Ftd>\u003Ctd>5.070.703\u003C\u002Ftd>\u003Ctd>-9%\u003C\u002Ftd>\u003C\u002Ftr>\u003Ctr>\u003Ctd>Encargos de lojas vagas e contratuais\u003C\u002Ftd>\u003Ctd>-\u003C\u002Ftd>\u003Ctd>132.553\u003C\u002Ftd>\u003Ctd>-\u003C\u002Ftd>\u003Ctd>(8.557.585)\u003C\u002Ftd>\u003Ctd>(7.902.105)\u003C\u002Ftd>\u003Ctd>8%\u003C\u002Ftd>\u003C\u002Ftr>\u003Ctr>\u003Ctd>Outras despesas\u003C\u002Ftd>\u003Ctd>(71.210)\u003C\u002Ftd>\u003Ctd>(79.227)\u003C\u002Ftd>\u003Ctd>-10%\u003C\u002Ftd>\u003Ctd>(829.004)\u003C\u002Ftd>\u003Ctd>(920.553)\u003C\u002Ftd>\u003Ctd>-10%\u003C\u002Ftd>\u003C\u002Ftr>\u003Ctr>\u003Ctd>Despesas totais\u003C\u002Ftd>\u003Ctd>(71.210)\u003C\u002Ftd>\u003Ctd>53.326\u003C\u002Ftd>\u003Ctd>-\u003C\u002Ftd>\u003Ctd>(9.386.589)\u003C\u002Ftd>\u003Ctd>(8.822.658)\u003C\u002Ftd>\u003Ctd>6%\u003C\u002Ftd>\u003C\u002Ftr>\u003Ctr>\u003Ctd>Resultado sem estacionamento\u003C\u002Ftd>\u003Ctd>322.784\u003C\u002Ftd>\u003Ctd>393.903\u003C\u002Ftd>\u003Ctd>-18%\u003C\u002Ftd>\u003Ctd>(4.755.978)\u003C\u002Ftd>\u003Ctd>(3.751.955)\u003C\u002Ftd>\u003Ctd>27%\u003C\u002Ftd>\u003C\u002Ftr>\u003Ctr>\u003Ctd>Resultado estacionamento\u003C\u002Ftd>\u003Ctd>2.510\u003C\u002Ftd>\u003Ctd>1.525\u003C\u002Ftd>\u003Ctd>65%\u003C\u002Ftd>\u003Ctd>28.848\u003C\u002Ftd>\u003Ctd>29.654\u003C\u002Ftd>\u003Ctd>-3%\u003C\u002Ftd>\u003C\u002Ftr>\u003C\u002Ftbody>\u003C\u002Ftable>\u003Ctable>\u003Cthead>\u003Ctr>\u003Cth>Resultado operacional (NOI)\u003C\u002Fth>\u003Cth>325.294\u003C\u002Fth>\u003Cth>395.428\u003C\u002Fth>\u003Cth>-18%\u003C\u002Fth>\u003Cth>(4.727.129)\u003C\u002Fth>\u003Cth>(3.722.301)\u003C\u002Fth>\u003Cth>27%\u003C\u002Fth>\u003C\u002Ftr>\u003C\u002Fthead>\u003Ctbody>\u003Ctr>\u003Ctd>Benfeitorias\u003C\u002Ftd>\u003Ctd>(142.679)\u003C\u002Ftd>\u003Ctd>(255.730)\u003C\u002Ftd>\u003Ctd>-44%\u003C\u002Ftd>\u003Ctd>(1.145.662)\u003C\u002Ftd>\u003Ctd>(1.037.234)\u003C\u002Ftd>\u003Ctd>10%\u003C\u002Ftd>\u003C\u002Ftr>\u003Ctr>\u003Ctd>Resultado não operacional\u003C\u002Ftd>\u003Ctd>-\u003C\u002Ftd>\u003Ctd>(425.000)\u003C\u002Ftd>\u003Ctd>-100%\u003C\u002Ftd>\u003Ctd>(1.045.000)\u003C\u002Ftd>\u003Ctd>(2.693.946)\u003C\u002Ftd>\u003Ctd>-61%\u003C\u002Ftd>\u003C\u002Ftr>\u003Ctr>\u003Ctd>Fluxo de caixa total\u003C\u002Ftd>\u003Ctd>182.615\u003C\u002Ftd>\u003Ctd>(285.302)\u003C\u002Ftd>\u003Ctd>-\u003C\u002Ftd>\u003Ctd>(6.917.791)\u003C\u002Ftd>\u003Ctd>(7.453.481)\u003C\u002Ftd>\u003Ctd>-7%\u003C\u002Ftd>\u003C\u002Ftr>\u003C\u002Ftbody>\u003C\u002Ftable>\u003Cp>VENDAS (R$ MM)\u003C\u002Fp>\u003Cp>\u003Cimg alt=\"\" src=\"\u002Fstorage\u002Ffiis\u002Fdocumentos\u002F5472\u002Fpage_45_chart_7.jpg\">\u003C\u002Fp>\u003Cp>FLUXO DE VEÍCULOS (‘000)\u003C\u002Fp>\u003Cp>\u003Cimg alt=\"\" src=\"\u002Fstorage\u002Ffiis\u002Fdocumentos\u002F5472\u002Fpage_45_chart_9.jpg\">\u003C\u002Fp>\u003Cp>INADIMPLÊNCIA LÍQUIDA 12M\u003C\u002Fp>\u003Cp>\u003Cimg alt=\"\" src=\"\u002Fstorage\u002Ffiis\u002Fdocumentos\u002F5472\u002Fpage_45_chart_11.jpg\">\u003C\u002Fp>\u003Cp>VACÂNCIA (% ABL)\u003C\u002Fp>\u003Cp>\u003Cimg alt=\"\" src=\"\u002Fstorage\u002Ffiis\u002Fdocumentos\u002F5472\u002Fpage_45_chart_13.jpg\">\u003C\u002Fp>\u003Ch3>FRANCA SHOPPING (0,03% DA CARTEIRA)\u003C\u002Fh3>\u003Cp>Inaugurado em outubro de 1993, o Franca Shopping é um centro de compras e entretenimento pioneiro no interior de São Paulo. Foi concebido como open mall e com um icônico lago interno. Recentemente o shopping passou por uma revitalização da área interna e no estacionamento, a primeira grande revitalização nos quase 30 anos do shopping. Apesar de ser uma participação pouco representativa no portfólio do Fundo, é esperado que contribua estrategicamente para oportunidades futuras.\u003C\u002Fp>\u003Cp>Movimentações comerciais: entradas da Espaço Laser (61 m²) e Senhor dos Calçados (42 m²).\u003C\u002Fp>\u003Cp>Principais Operações: Lojas Renner, Casas Bahia, C&A, Riachuelo, Maravilhas do Lar, Magazine Luiza e Centauro, Outback, Unimed e Youcom.\u003C\u002Fp>\u003Cp>Endereço: Av. Rio Negro, 1.100, Franca, SP\u003C\u002Fp>\u003Cp>www.francashopping.com.br\u003C\u002Fp>\u003Cp>\u003Cimg alt=\"\" src=\"\u002Fstorage\u002Ffiis\u002Fdocumentos\u002F5472\u002Fpage_46_image_9.jpg\">\u003C\u002Fp>\u003Cp>\u003Cimg alt=\"\" src=\"\u002Fstorage\u002Ffiis\u002Fdocumentos\u002F5472\u002Fpage_46_image_10.jpg\">\u003C\u002Fp>\u003Cp>\u003Cimg alt=\"\" src=\"\u002Fstorage\u002Ffiis\u002Fdocumentos\u002F5472\u002Fpage_46_image_11.jpg\">\u003C\u002Fp>\u003Cp>\u003Cimg alt=\"\" src=\"\u002Fstorage\u002Ffiis\u002Fdocumentos\u002F5472\u002Fpage_46_image_12.jpg\">\u003C\u002Fp>\u003Cp>\u003Cimg alt=\"\" src=\"\u002Fstorage\u002Ffiis\u002Fdocumentos\u002F5472\u002Fpage_46_image_13.jpg\">\u003C\u002Fp>\u003Cp>FRANCA SHOPPING (0,03% DA CARTEIRA)\u003C\u002Fp>\u003Ctable>\u003Cthead>\u003Ctr>\u003Cth>Fluxo de Caixa 100% shopping\u003C\u002Fth>\u003Cth>Realizadodez-25\u003C\u002Fth>\u003Cth>Realizadodez-24\u003C\u002Fth>\u003Cth>Variação vs. dez-24\u003C\u002Fth>\u003Cth>Acum.dez-25\u003C\u002Fth>\u003Cth>Acum.dez-24\u003C\u002Fth>\u003Cth>Variação acum. a\u002Fa\u003C\u002Fth>\u003C\u002Ftr>\u003C\u002Fthead>\u003Ctbody>\u003Ctr>\u003Ctd>Aluguel mínimo\u003C\u002Ftd>\u003Ctd>1.689.706\u003C\u002Ftd>\u003Ctd>1.218.375\u003C\u002Ftd>\u003Ctd>39%\u003C\u002Ftd>\u003Ctd>15.601.947\u003C\u002Ftd>\u003Ctd>14.113.527\u003C\u002Ftd>\u003Ctd>11%\u003C\u002Ftd>\u003C\u002Ftr>\u003Ctr>\u003Ctd>Aluguel complementar\u003C\u002Ftd>\u003Ctd>395.272\u003C\u002Ftd>\u003Ctd>324.196\u003C\u002Ftd>\u003Ctd>22%\u003C\u002Ftd>\u003Ctd>3.022.678\u003C\u002Ftd>\u003Ctd>2.348.050\u003C\u002Ftd>\u003Ctd>29%\u003C\u002Ftd>\u003C\u002Ftr>\u003Ctr>\u003Ctd>Aluguel quiosques\u002Fmídia\u002Feventos\u003C\u002Ftd>\u003Ctd>594.140\u003C\u002Ftd>\u003Ctd>541.489\u003C\u002Ftd>\u003Ctd>10%\u003C\u002Ftd>\u003Ctd>4.324.023\u003C\u002Ftd>\u003Ctd>3.588.738\u003C\u002Ftd>\u003Ctd>20%\u003C\u002Ftd>\u003C\u002Ftr>\u003Ctr>\u003Ctd>Outras receitas\u003C\u002Ftd>\u003Ctd>52.231\u003C\u002Ftd>\u003Ctd>27.374\u003C\u002Ftd>\u003Ctd>-\u003C\u002Ftd>\u003Ctd>382.502\u003C\u002Ftd>\u003Ctd>150.534\u003C\u002Ftd>\u003Ctd>-\u003C\u002Ftd>\u003C\u002Ftr>\u003Ctr>\u003Ctd>Receitas totais\u003C\u002Ftd>\u003Ctd>2.731.349\u003C\u002Ftd>\u003Ctd>2.111.435\u003C\u002Ftd>\u003Ctd>29%\u003C\u002Ftd>\u003Ctd>23.331.149\u003C\u002Ftd>\u003Ctd>20.200.848\u003C\u002Ftd>\u003Ctd>15%\u003C\u002Ftd>\u003C\u002Ftr>\u003Ctr>\u003Ctd>Encargos de lojas vagas e contratuais\u003C\u002Ftd>\u003Ctd>(35.754)\u003C\u002Ftd>\u003Ctd>(42.003)\u003C\u002Ftd>\u003Ctd>-15%\u003C\u002Ftd>\u003Ctd>(672.671)\u003C\u002Ftd>\u003Ctd>(610.096)\u003C\u002Ftd>\u003Ctd>10%\u003C\u002Ftd>\u003C\u002Ftr>\u003Ctr>\u003Ctd>Outras despesas\u003C\u002Ftd>\u003Ctd>18.850\u003C\u002Ftd>\u003Ctd>(261.303)\u003C\u002Ftd>\u003Ctd>-\u003C\u002Ftd>\u003Ctd>(2.472.442)\u003C\u002Ftd>\u003Ctd>(2.056.778)\u003C\u002Ftd>\u003Ctd>20%\u003C\u002Ftd>\u003C\u002Ftr>\u003Ctr>\u003Ctd>Despesas totais\u003C\u002Ftd>\u003Ctd>(16.903)\u003C\u002Ftd>\u003Ctd>(303.306)\u003C\u002Ftd>\u003Ctd>-94%\u003C\u002Ftd>\u003Ctd>(3.145.113)\u003C\u002Ftd>\u003Ctd>(2.666.875)\u003C\u002Ftd>\u003Ctd>18%\u003C\u002Ftd>\u003C\u002Ftr>\u003Ctr>\u003Ctd>Resultado sem estacionamento\u003C\u002Ftd>\u003Ctd>2.714.445\u003C\u002Ftd>\u003Ctd>1.808.129\u003C\u002Ftd>\u003Ctd>50%\u003C\u002Ftd>\u003Ctd>20.186.037\u003C\u002Ftd>\u003Ctd>17.533.974\u003C\u002Ftd>\u003Ctd>15%\u003C\u002Ftd>\u003C\u002Ftr>\u003Ctr>\u003Ctd>Resultado estacionamento\u003C\u002Ftd>\u003Ctd>830.325\u003C\u002Ftd>\u003Ctd>661.217\u003C\u002Ftd>\u003Ctd>26%\u003C\u002Ftd>\u003Ctd>6.888.018\u003C\u002Ftd>\u003Ctd>5.433.818\u003C\u002Ftd>\u003Ctd>27%\u003C\u002Ftd>\u003C\u002Ftr>\u003C\u002Ftbody>\u003C\u002Ftable>\u003Ctable>\u003Cthead>\u003Ctr>\u003Cth>Resultado operacional (NOI)\u003C\u002Fth>\u003Cth>3.544.770\u003C\u002Fth>\u003Cth>2.469.345\u003C\u002Fth>\u003Cth>44%\u003C\u002Fth>\u003Cth>27.074.055\u003C\u002Fth>\u003Cth>22.967.792\u003C\u002Fth>\u003Cth>18%\u003C\u002Fth>\u003C\u002Ftr>\u003C\u002Fthead>\u003Ctbody>\u003Ctr>\u003Ctd>Benfeitorias\u003C\u002Ftd>\u003Ctd>(52.644)\u003C\u002Ftd>\u003Ctd>(33.130)\u003C\u002Ftd>\u003Ctd>59%\u003C\u002Ftd>\u003Ctd>(2.292.147)\u003C\u002Ftd>\u003Ctd>(1.044.411)\u003C\u002Ftd>\u003Ctd>119%\u003C\u002Ftd>\u003C\u002Ftr>\u003Ctr>\u003Ctd>Resultado não operacional\u003C\u002Ftd>\u003Ctd>(17.706)\u003C\u002Ftd>\u003Ctd>20.735\u003C\u002Ftd>\u003Ctd>-\u003C\u002Ftd>\u003Ctd>(268.312)\u003C\u002Ftd>\u003Ctd>(104.337)\u003C\u002Ftd>\u003Ctd>157%\u003C\u002Ftd>\u003C\u002Ftr>\u003Ctr>\u003Ctd>Fluxo de caixa total\u003C\u002Ftd>\u003Ctd>3.474.421\u003C\u002Ftd>\u003Ctd>2.456.950\u003C\u002Ftd>\u003Ctd>41%\u003C\u002Ftd>\u003Ctd>24.513.596\u003C\u002Ftd>\u003Ctd>21.819.045\u003C\u002Ftd>\u003Ctd>12%\u003C\u002Ftd>\u003C\u002Ftr>\u003C\u002Ftbody>\u003C\u002Ftable>\u003Cp>VENDAS (R$ MM)\u003C\u002Fp>\u003Cp>\u003Cimg alt=\"\" src=\"\u002Fstorage\u002Ffiis\u002Fdocumentos\u002F5472\u002Fpage_47_chart_7.jpg\">\u003C\u002Fp>\u003Cp>FLUXO DE VEÍCULOS (‘000)\u003C\u002Fp>\u003Cp>\u003Cimg alt=\"\" src=\"\u002Fstorage\u002Ffiis\u002Fdocumentos\u002F5472\u002Fpage_47_chart_9.jpg\">\u003C\u002Fp>\u003Cp>INADIMPLÊNCIA LÍQUIDA 12M\u003C\u002Fp>\u003Cp>\u003Cimg alt=\"\" src=\"\u002Fstorage\u002Ffiis\u002Fdocumentos\u002F5472\u002Fpage_47_chart_11.jpg\">\u003C\u002Fp>\u003Cp>VACÂNCIA (% ABL)\u003C\u002Fp>\u003Cp>\u003Cimg alt=\"\" src=\"\u002Fstorage\u002Ffiis\u002Fdocumentos\u002F5472\u002Fpage_47_chart_13.jpg\">\u003C\u002Fp>\u003Ch3>SHOPPING PARQUE D. PEDRO (9% DA CARTEIRA VIA COTAS DO FII HPDP11)\u003C\u002Fh3>\u003Cp>O Parque D. Pedro Shopping é o mais completo centro de compras, lazer, entretenimento e serviços da região de Campinas, e um dos maiores shoppings da América Latina. No encerramento de mês, o Fundo detinha uma participação de 7,7% do Shopping, por meio do Fundo HPDP11.\u003C\u002Fp>\u003Cp>Destacamos que em outubro ocorreu a inauguração da H&M em uma área de cerca de 2.300 m² no corredor Árvores. Reconhecida como uma das maiores redes de moda do mundo, a varejista sueca abriu sua terceira loja no país, sendo a primeira fora da cidade de São Paulo e a única que conta com a H&M Home, divisão da marca focada em itens de decoração e utilidades para casa. A data de inauguração contou com ações especiais como brindes e vale -compras para os primeiros clientes, além de influenciadores locais.\u003C\u002Fp>\u003Cp>Para maiores informações, sugerimos a leitura do relatório gerencial do Fundo (link)\u003C\u002Fp>\u003Cp>\u003Cstrong>Principais Operações:\u003C\u002Fstrong> Bodytech, C&A, Casas Bahia, Centauro, Clínica Diagmed, Daiso Japan, Decathlon, Expo Dom Pedro, H&M, Kinoplex, Magazine Luiza, Marisa, Miniso, Mobly, PEP da Polícia Federal, Renner, Riachuelo, Zara, Barbacoa, Big Jack, Camarada Camarão, Empório Santa Therezinha, Giovannetti, Jangada Restaurante, Lago do Holandês, L´Entrecôte de Paris, Madero, Mamma Jamma, Nagairô, Ninetto, O Matuto, Olive Garden, Outback, Parrilla da Fazenda, Pecorino, Pirajá, Si Señor, Toca da Traíra (a inaugurar) e Temakeria e Cia. \u003Cstrong>Endereço:\u003C\u002Fstrong> Av. Guilherme Campos 500 – Campinas, SP https:\u002F\u002Fparquedpedro.com.br\u002F\u003C\u002Fp>\u003Cp>\u003Cimg alt=\"\" src=\"\u002Fstorage\u002Ffiis\u002Fdocumentos\u002F5472\u002Fpage_48_image_8.jpg\">\u003C\u002Fp>\u003Cp>\u003Cimg alt=\"\" src=\"\u002Fstorage\u002Ffiis\u002Fdocumentos\u002F5472\u002Fpage_48_image_9.jpg\">\u003C\u002Fp>\u003Cp>Fotos 1, 2 e 3: Maurício Moreno.\u003C\u002Fp>\u003Cp>\u003Cimg alt=\"\" src=\"\u002Fstorage\u002Ffiis\u002Fdocumentos\u002F5472\u002Fpage_48_image_11.jpg\">\u003C\u002Fp>\u003Ch3>FLORIPA SHOPPING (4% DA CARTEIRA VIA COTAS DO FII FLRP11)\u003C\u002Fh3>\u003Cp>Aberto ao público em novembro de 2006, o Floripa Shopping possui localização privilegiada, arquitetura moderna, com iluminação natural, e o melhor mix de lojas da região. O empreendimento é um dos maiores e mais completos shoppings de Florianópolis e está localizado às margens da SC-401, uma das rodovias mais movimentadas da capital, que liga o Centro ao Norte da Ilha.\u003C\u002Fp>\u003Cp>Para maiores informações, sugerimos a leitura do relatório gerencial do Fundo (link)\u003C\u002Fp>\u003Ctable>\u003Cthead>\u003Ctr>\u003Cth>PARTICIPAÇÃO\u003C\u002Fth>\u003Cth>ABL TOTAL\u003C\u002Fth>\u003Cth>OPERAÇÕES\u003C\u002Fth>\u003Cth>INAUGURAÇÃO\u003C\u002Fth>\u003Cth>OPERADOR\u003C\u002Fth>\u003C\u002Ftr>\u003C\u002Fthead>\u003Ctbody>\u003Ctr>\u003Ctd>25,6%\u003C\u002Ftd>\u003Ctd>50,5 mil m²\u003C\u002Ftd>\u003Ctd>151\u003C\u002Ftd>\u003Ctd>2006\u003C\u002Ftd>\u003Ctd>Plena Malls\u003C\u002Ftd>\u003C\u002Ftr>\u003C\u002Ftbody>\u003C\u002Ftable>\u003Cp>Principais Operações: Renner, Havan, Magazine Luiza, Riachuelo, Centauro e Cinemark.\u003C\u002Fp>\u003Cp>Endereço: Rodovia SC-401, 3.116 Florianópolis, SC.\u003C\u002Fp>\u003Cp>www.floripashopping.com.br\u003C\u002Fp>\u003Cp>\u003Cimg alt=\"\" src=\"\u002Fstorage\u002Ffiis\u002Fdocumentos\u002F5472\u002Fpage_49_image_10.jpg\">\u003C\u002Fp>\u003Cp>\u003Cimg alt=\"\" src=\"\u002Fstorage\u002Ffiis\u002Fdocumentos\u002F5472\u002Fpage_49_image_11.jpg\">\u003C\u002Fp>\u003Cp>\u003Cimg alt=\"\" src=\"\u002Fstorage\u002Ffiis\u002Fdocumentos\u002F5472\u002Fpage_49_image_12.jpg\">\u003C\u002Fp>\u003Cp>\u003Cimg alt=\"\" src=\"\u002Fstorage\u002Ffiis\u002Fdocumentos\u002F5472\u002Fpage_49_image_13.jpg\">\u003C\u002Fp>\u003Cp>\u003Cimg alt=\"\" src=\"\u002Fstorage\u002Ffiis\u002Fdocumentos\u002F5472\u002Fpage_49_image_14.jpg\">\u003C\u002Fp>\u003Ch3>GRAND PLAZA SHOPPING (2% DA CARTEIRA VIA COTAS DO FII ABCP11)\u003C\u002Fh3>\u003Cp>O Grand Plaza Shopping é o principal centro de compras do Grande ABC e figura entre os maiores do país em ABL, com 70 mil metros quadrados, e reúne parte das marcas mais sólidas do varejo nacional.\u003C\u002Fp>\u003Cp>Principais Operações: Playcenter Family, Renner, Riachuelo, C&A, Centauro, Fast Shop, Pernambucanas e Cinemark.\u003C\u002Fp>\u003Cp>Endereço: Av. Industrial, 600 – Santo André\u002FSP\u003C\u002Fp>\u003Cp>www.grandplazashopping.com.br\u003C\u002Fp>\u003Cp>\u003Cimg alt=\"\" src=\"\u002Fstorage\u002Ffiis\u002Fdocumentos\u002F5472\u002Fpage_50_image_8.jpg\">\u003C\u002Fp>\u003Ch3>VIA PARQUE SHOPPING (1% DA CARTEIRA VIA COTAS DO FII FVPQ11)\u003C\u002Fh3>\u003Cp>Inaugurado em 1993, o Via Parque Shopping está localizado na Barra da Tijuca, Zona Oeste do Rio de Janeiro. O empreendimento possui 56,5 mil m² de Área Bruta Locável (ABL), com diversidade de operações entre lojas âncoras, megalojas, lazer, serviços e ampla praça de alimentação.\u003C\u002Fp>\u003Cp>Reconhecido como um shopping voltado para a família, o Via Parque consolidou-se como um importante polo de conveniência e entretenimento na região. Apesar de a Barra da Tijuca ser uma das áreas de maior crescimento da cidade, também apresenta um dos maiores índices de ABL por habitante, o que intensifica a competição entre shoppings. Nos últimos anos, o aumento da concorrência impactou indicadores de fluxo e ocupação do empreendimento.\u003C\u002Fp>\u003Cp>Por outro lado, movimentos recentes reforçam o reposicionamento do ativo: a inauguração de um supermercado, importante operação para agregação ao tenant mix do shopping, e a instalação de um hospital no terreno vizinho ampliam a atratividade do empreendimento, com potencial de incremento no fluxo de visitantes e no dinamismo da região.\u003C\u002Fp>\u003Ctable>\u003Cthead>\u003Ctr>\u003Cth>PARTICIPAÇÃO\u003C\u002Fth>\u003Cth>ABL TOTAL\u003C\u002Fth>\u003Cth>OPERAÇÕES\u003C\u002Fth>\u003Cth>INAUGURAÇÃO\u003C\u002Fth>\u003Cth>OPERADOR\u003C\u002Fth>\u003C\u002Ftr>\u003C\u002Fthead>\u003Ctbody>\u003Ctr>\u003Ctd>12,4%\u003C\u002Ftd>\u003Ctd>56,5 mil m²\u003C\u002Ftd>\u003Ctd>200\u003C\u002Ftd>\u003Ctd>1993\u003C\u002Ftd>\u003Ctd>Alqia\u003C\u002Ftd>\u003C\u002Ftr>\u003C\u002Ftbody>\u003C\u002Ftable>\u003Cp>\u003Cstrong>Principais Operações:\u003C\u002Fstrong> Cobasi, Daiso, Kalunga, Lojas Americanas, O Amigão, Renner, Smart Fit, Supermarket, Outback, Bar do Adão, Bardana, Bartô Galático, Esquillo’s, Galeteria Continental, Lorelai Cucina Mediterranea, Yuki Cozinha Japonesa, Kinoplex, Qualistage, PEP da Polícia Federal, Centro Médico Barra D’Or (a inaugurar).\u003C\u002Fp>\u003Cp>Endereço: Av. Ayrton Senna, 3.000 – Rio de Janeiro, RJ\u003C\u002Fp>\u003Cp>www.viaparqueshopping.com.br\u003C\u002Fp>\u003Cp>\u003Cimg alt=\"\" src=\"\u002Fstorage\u002Ffiis\u002Fdocumentos\u002F5472\u002Fpage_51_image_11.jpg\">\u003C\u002Fp>\u003Cp>\u003Cimg alt=\"\" src=\"\u002Fstorage\u002Ffiis\u002Fdocumentos\u002F5472\u002Fpage_51_image_12.jpg\">\u003C\u002Fp>\u003Cp>\u003Cimg alt=\"\" src=\"\u002Fstorage\u002Ffiis\u002Fdocumentos\u002F5472\u002Fpage_51_image_13.jpg\">\u003C\u002Fp>\u003Ch3>GLOSSÁRIO\u003C\u002Fh3>\u003Cp>\u003Cstrong>Área Bruta Locável (ABL):\u003C\u002Fstrong> Equivalente à soma de toda a área disponível para a locação nos shopping centers, exceto merchandising.\u003C\u002Fp>\u003Cp>\u003Cstrong>ABL Própria:\u003C\u002Fstrong> ABL total ponderada pela participação do Fundo em cada shopping.\u003C\u002Fp>\u003Cp>\u003Cstrong>ABRASCE:\u003C\u002Fstrong> Associação Brasileira de Shopping Centers.\u003C\u002Fp>\u003Cp>\u003Cstrong>Aluguel mínimo ou aluguel base:\u003C\u002Fstrong> é o aluguel mínimo do contrato de locação de um lojista.\u003C\u002Fp>\u003Cp>\u003Cstrong>Aluguel percentual ou aluguel complementar:\u003C\u002Fstrong> É a diferença (quando positiva) entre o aluguel mínimo e o aluguel com base em porcentagem de vendas paga como aluguel.\u003C\u002Fp>\u003Cp>\u003Cstrong>Âncoras:\u003C\u002Fstrong> grandes lojas conhecidas pelo público que atraem os consumidores ao shopping, gerando fluxo destes em demais áreas do shopping center.\u003C\u002Fp>\u003Cp>\u003Cstrong>B3: Brasil Bolsa Balcão S.A.\u003C\u002Fstrong> - Bolsa de Valores, Mercadorias, Futuros e Mercado Balcão.\u003C\u002Fp>\u003Cp>\u003Cstrong>Benfeitorias:\u003C\u002Fstrong> obras realizadas nos imóveis com objetivo de melhorar a condição do ativo.\u003C\u002Fp>\u003Cp>\u003Cstrong>CDI:\u003C\u002Fstrong> sigla para Certificado de Depósito Interbancário, é a remuneração dos empréstimos realizados entre bancos diariamente e usada como referência a diversos investimentos.\u003C\u002Fp>\u003Cp>\u003Cstrong>CRI:\u003C\u002Fstrong> sigla para Certificado de Recebíveis Imobiliários, ativo financeiro lastreado em créditos imobiliários.\u003C\u002Fp>\u003Cp>\u003Cstrong>Custo de ocupação:\u003C\u002Fstrong> custo que engloba aluguel, condomínio e demais encargos de ocupação de um lojista.\u003C\u002Fp>\u003Cp>\u003Cstrong>Encargos de lojas vagas:\u003C\u002Fstrong> despesas de unidades vagas pagas pelo proprietário, englobam energia, água, condomínio e fundo de promoção.\u003C\u002Fp>\u003Cp>\u003Cstrong>Encargos contratuais:\u003C\u002Fstrong> parte de despesas de lojas locadas que são pagas pelo proprietário devido a negociações específicas com determinados locatários.\u003C\u002Fp>\u003Cp>\u003Cstrong>FFO:\u003C\u002Fstrong> Sigla para “Funds From Operations”, é o fluxo de caixa operacional gerado por ativos imobiliários.\u003C\u002Fp>\u003Cp>\u003Cstrong>IFIX:\u003C\u002Fstrong> índice de Fundos Imobiliários da B3.\u003C\u002Fp>\u003Cp>\u003Cstrong>Inadimplência Líquida:\u003C\u002Fstrong> Percentual não recebido do aluguel vencido mensalmente, considerando o recebimento de períodos anteriores.\u003C\u002Fp>\u003Cp>\u003Cstrong>LCI:\u003C\u002Fstrong> sigla para Letra de Crédito Imobiliário, ativo financeiro lastreado em créditos imobiliários.\u003C\u002Fp>\u003Cp>\u003Cstrong>Megalojas:\u003C\u002Fstrong> lojas especializadas com área entre 500 a 999m² de ABL.\u003C\u002Fp>\u003Cp>\u003Cstrong>Malls:\u003C\u002Fstrong> áreas comuns dos Shoppings locadas para stands e quiosques.\u003C\u002Fp>\u003Cp>\u003Cstrong>NOI:\u003C\u002Fstrong> sigla para “Net Operating Income” ou Resultado Operacional Líquido, é o resultado após a dedução das despesas.\u003C\u002Fp>\u003Cp>\u003Cstrong>Operador:\u003C\u002Fstrong> empresa especializada responsável pela administração do dia a dia do shopping.\u003C\u002Fp>\u003Cp>\u003Cstrong>Outlet:\u003C\u002Fstrong> tipo especializado de shoppings centers que apresentam lojas de descontos ou de ponta de estoque.\u003C\u002Fp>\u003Cp>\u003Cstrong>Outras Despesas:\u003C\u002Fstrong> inclui despesas como taxa de administração, comercialização, despesas jurídicas, auditorias, tarifas bancárias, entre outras.\u003C\u002Fp>\u003Cp>\u003Cstrong>Outras Receitas:\u003C\u002Fstrong> inclui receitas como cessão de direitos de uso (CDU), taxas de transferências, multas e juros com aluguéis atrasados entre outras.\u003C\u002Fp>\u003Cp>\u003Cstrong>PIB:\u003C\u002Fstrong> sigla para Produto Interno Bruto, a soma de todos os bens e serviços produzidos em determinada região.\u003C\u002Fp>\u003Cp>\u003Cstrong>Satélites:\u003C\u002Fstrong> lojas menores sem características especiais, destinadas ao comércio em geral.\u003C\u002Fp>\u003Cp>\u003Cstrong>SSS (Vendas mesmas lojas):\u003C\u002Fstrong> são as vendas em lojas que já estavam operando nos períodos comparados, desconsidera entradas e saídas de lojas.\u003C\u002Fp>\u003Cp>\u003Cstrong>Tenant-mix:\u003C\u002Fstrong> se refere ao mix de lojistas de um shopping center, caracterizado por diferentes segmentos e produtos oferecidos, de forma a tornar o empreendimento atrativo.\u003C\u002Fp>\u003Cp>\u003Cstrong>Vacância:\u003C\u002Fstrong> percentual não locado em relação a área bruta locável.\u003C\u002Fp>\u003Cp>\u003Cstrong>DOCUMENTOS\u003C\u002Fstrong>\u003C\u002Fp>\u003Cp>\u003Cstrong>Regulamento vigente\u003C\u002Fstrong>\u003C\u002Fp>\u003Ch3>Demonstrações financeiras 2024\u003C\u002Fh3>\u003Cp>\u003Cstrong>Informe Mensal\u003C\u002Fstrong>\u003C\u002Fp>\u003Ch3>Autorregulação ANBIMA\u003C\u002Fh3>\u003Cp>\u003Cimg alt=\"\" src=\"\u002Fstorage\u002Ffiis\u002Fdocumentos\u002F5472\u002Fpage_53_image_8.jpg\">\u003C\u002Fp>\u003Cp>Este material foi preparado pela Hedge Investments, tem caráter meramente informativo e não deve ser entendido como oferta, recomendação ou análise de investimento ou ativos, material promocional, solicitação de compra ou venda. Recomendamos consultar profissionais especializados e independentes para uma análise específica, personalizada antes da sua decisão sobre produtos, serviços e investimentos, incluindo eventuais necessidades e questões relativas a aspectos jurídicos, incluídos aspectos de direito tributário e das sucessões. As informações veiculadas, os valores e as taxas são referentes às datas e às condições indicadas no material e não serão atualizadas. Verifique a tributação aplicável. As referências aos produtos e serviços são meramente indicativas e não consideram os objetivos de investimento, a situação financeira ou as necessidades individuais e particulares dos destinatários. O objetivo de investimento não constitui garantia ou promessa de rentabilidade. Os dados acima consistem em uma estimativa e não asseguram ou sugerem a existência de garantia de resultados ou isenção de risco para o investidor. O administrador do Fundo e o gestor da carteira não se responsabilizam por decisões dos investidores acerca do tema contido neste material nem por ato ou fato de profissionais e especialistas por eles consultados. A rentabilidade obtida no passado não representa garantia de rentabilidade futura. Fundos de Investimento não são garantidos pelo administrador do fundo, gestor da carteira, por qualquer mecanismo de seguro, ou ainda, pelo Fundo Garantidor de Crédito (FGC). Projeções não significam retornos futuros. O objetivo de investimento, as conclusões, opiniões, sugestões de alocação, projeções e hipóteses apresentadas são uma mera estimativa e não constituem garantia ou promessa de rentabilidade e resultado ou de isenção de risco pela Hedge Investments. Ao investidor é recomendada a leitura cuidadosa tanto do prospecto, se houver, quanto do regulamento do Fundo, com especial atenção para as cláusulas relativas ao objetivo e à política de investimento do Fundo, bem como às disposições do prospecto que tratam dos fatores de risco a que este está exposto. Caso o índice comparativo de rentabilidade utilizado neste material não seja o benchmark descrito no regulamento do fundo, considere tal índice meramente como referência econômica e não como meta ou parâmetro de performance. Verifique se os fundos utilizam estratégia com derivativos como parte integrante de suas políticas de investimento. Verifique se os fundos investem em crédito privado. Os fundos apresentados podem estar expostos a significativa concentração em ativos de poucos emissores, variação cambial e outros riscos. Os riscos eventualmente mencionados neste material não refletem todos os riscos, cenários e possibilidades associados ao ativo. A Hedge Investments não se responsabiliza por erros, omissões ou pelo uso das informações contidas neste material, bem como não garante a disponibilidade, liquidação da operação, liquidez, remuneração, retorno ou preço dos produtos ativos mencionados neste material. As informações, conclusões e análises apresentadas podem sofrer alteração a qualquer momento e sem aviso prévio. O investimento em determinados ativos financeiros pode sujeitar o investidor a significativas perdas patrimoniais. Ao investidor cabe a responsabilidade de se informar sobre todos os riscos, previamente à tomada de decisão sobre investimentos. Ao investidor caberá a decisão final, sob sua única e exclusiva responsabilidade, acerca dos investimentos e ativos mencionados neste material. São vedadas a cópia, a distribuição ou a reprodução total ou parcial deste material, sem a prévia e expressa concordância da Hedge Investments. Relação com Investidores: ri@hedgeinvest.com.br. Ouvidoria: canal de atendimento de última instância às demandas que não tenham sido solucionadas nos canais de atendimento primários da instituição. ouvidoria@hedgeinvest.com.br ou pelo telefone 0800 761 6146.\u003C\u002Fp>\u003Ch3>hedge. I NVEST MENT S\u003C\u002Fh3>\u003Cp>Av. Brigadeiro Faria Lima, 3600\u003C\u002Fp>\u003Cp>11º andar cj 112 04538-132\u003C\u002Fp>\u003Cp>Itaim Bibi São Paulo SP\u003C\u002Fp>\u003Cp>\u003Cstrong>hedgeinvest.com.br\u003C\u002Fstrong>\u003C\u002Fp>","https:\u002F\u002Fwww.kartac.com.br\u002Fapi\u002Ffiis\u002FHGBS11\u002Fdocumentos\u002F5472\u002Fpdf",false,"https:\u002F\u002Ffnet.bmfbovespa.com.br\u002Ffnet\u002Fpublico\u002FdownloadDocumento?id=1120723","2026-01-30","2026-02-24 21:20:00",1,{"title":17,"description":18,"canonical":19,"image":20,"json_ld":21,"nome":46,"resumo":88},"Relatório Gerencial HGBS11 de janeiro de 2026 | Kartac","Relatório Gerencial de janeiro de 2026 do HGBS11 (Hedge Brasil Shopping), entrega em 24\u002F02\u002F2026. DY 12 meses de 11,67% e P\u002FVP 0,81 em 04\u002F11\u002F2026.","https:\u002F\u002Fwww.kartac.com.br\u002Fdetalhes\u002FHGBS11\u002Fdocumentos\u002F5472","https:\u002F\u002Fwww.kartac.com.br\u002Fimages\u002Fog.png",{"@context":22,"@graph":23},"https:\u002F\u002Fschema.org",[24,30,35,44,59,74],{"@type":25,"@id":26,"name":27,"url":28,"logo":29},"Organization","https:\u002F\u002Fwww.kartac.com.br\u002F#organizacao","Kartac","https:\u002F\u002Fwww.kartac.com.br\u002F","https:\u002F\u002Fwww.kartac.com.br\u002Fandroid-chrome-512x512.png",{"@type":31,"@id":32,"name":27,"url":28,"inLanguage":33,"publisher":34},"WebSite","https:\u002F\u002Fwww.kartac.com.br\u002F#site","pt-BR",{"@id":26},{"@type":36,"@id":37,"url":19,"name":17,"description":18,"inLanguage":33,"isPartOf":38,"dateModified":39,"mainEntity":40,"breadcrumb":42},"WebPage","https:\u002F\u002Fwww.kartac.com.br\u002Fdetalhes\u002FHGBS11\u002Fdocumentos\u002F5472#pagina",{"@id":32},"2026-11-02",{"@id":41},"https:\u002F\u002Fwww.kartac.com.br\u002Fdetalhes\u002FHGBS11\u002Fdocumentos\u002F5472#documento",{"@id":43},"https:\u002F\u002Fwww.kartac.com.br\u002Fdetalhes\u002FHGBS11\u002Fdocumentos\u002F5472#migalhas",{"@type":45,"@id":41,"name":46,"alternateName":5,"url":19,"inLanguage":33,"about":47,"genre":7,"datePublished":49,"temporalCoverage":50,"author":51,"publisher":57,"isBasedOn":12},"Report","Relatório Gerencial HGBS11 de janeiro de 2026",{"@id":48},"https:\u002F\u002Fwww.kartac.com.br\u002Fdetalhes\u002FHGBS11#fundo","2026-02-24","2026-01",{"@type":25,"name":52,"identifier":53},"Hedge Investments Real Estate Gestão de Recursos Ltda.",{"@type":54,"propertyID":55,"value":56},"PropertyValue","CNPJ","26.843.225\u002F0001-01",{"@type":25,"name":58},"HEDGE INVESTMENTS DTVM LTDA",{"@type":60,"@id":48,"name":61,"alternateName":62,"url":65,"category":66,"identifier":67,"provider":72},"InvestmentFund","Hedge Brasil Shopping",[63,64],"HGBS11","HEDGE BRASIL SHOPPING FUNDO DE INVESTIMENTO IMOBILIÁRIO DE RESPONSABILIDADE LIMITADA","https:\u002F\u002Fwww.kartac.com.br\u002Fdetalhes\u002FHGBS11","Shoppings",[68,70],{"@type":54,"propertyID":69,"value":63},"Ticker B3",{"@type":54,"propertyID":55,"value":71},"08.431.747\u002F0001-06",{"@type":25,"name":52,"identifier":73},{"@type":54,"propertyID":55,"value":56},{"@type":75,"@id":43,"itemListElement":76},"BreadcrumbList",[77,80,84,86],{"@type":78,"position":15,"name":79,"item":28},"ListItem","Início",{"@type":78,"position":81,"name":82,"item":83},2,"FIIs","https:\u002F\u002Fwww.kartac.com.br\u002Franking",{"@type":78,"position":85,"name":63,"item":65},3,{"@type":78,"position":87,"name":5,"item":19},4,{"atualizado_em":89,"frases":90},"2026-11-05",[91,92,93,94,95],"Relatório Gerencial do Hedge Brasil Shopping (HGBS11), fundo imobiliário de shoppings, referente a janeiro de 2026, com entrega no FundosNet (B3) em 24\u002F02\u002F2026.","No pregão de 04\u002F11\u002F2026, a cota do HGBS11 fechou a R$ 17,05, com P\u002FVP de 0,81 (valor patrimonial de R$ 20,96 por cota no informe mensal de setembro de 2026).","O último rendimento foi de R$ 0,17 por cota, com pagamento em nov\u002F2026, e o dividend yield dos últimos 12 meses é de 11,67% sobre a cotação de 04\u002F11\u002F2026.","O patrimônio líquido era de R$ 3 bilhões no informe mensal de setembro de 2026.","Os indicadores são os mais recentes da base do Kartac, não os do período do documento.",{"id":97,"empresa":98,"gestor":102,"cotacoes":108,"patrimonio":222,"vpa":223,"p_vpa":224,"tipo_gestao":225,"mandato":226,"segmento":66,"categoria":227,"grupo":66,"preco_atual":220,"cotacao_atualizada_em":228,"ultima_variacao_cotacao_24h":229,"variacao_cotacao_7d":230,"variacao_cotacao_1m":231,"variacao_cotacao_3m":232,"variacao_cotacao_6m":233,"variacao_cotacao_12m":234,"vacancia_fisica":235,"liquidez_atual":236,"ultimo_dividendo":237,"ultimo_dividend_yield":238,"mes_pagamento_ultimo_dividendo":239,"dividend_yield_3m":240,"dividend_yield_6m":241,"dividend_yield_12m":242,"dividend_yield_medio_12m":243,"qtd_dividendos_pagos_ano_passado":244,"data_ultima_cotacao":219,"pregoes_com_negocio_21":245,"alertas":246,"updated_at":247,"liquidez_media_reais":248,"administrador":58,"taxa_administracao_paga":249,"balanco":250,"resultado_distribuido":258,"publico_alvo":263,"mercados_negociacao_cotas":264,"data_funcionamento":266,"data_final":226,"quantidade_cotas":267,"quantidade_cotistas":268,"detalhes_cotistas":269,"total_investido":274,"investimentos_fundo":275,"imoveis":280,"contratos":496,"custodiante":226,"auditor_independente":520,"formador_mercado":226,"distribuidor_cotas":226,"consultor_especializado":226,"administrador_locacoes":226,"relatorio_anual":527,"analise_administrador":530},562,{"nome":64,"nome_simplificado":99,"nome_comercial":61,"ticker":63,"nome_ticker":100,"nome_pregao":101,"cnpj":71},"HEDGE BRASIL SHOPPING  DE RESPONSABILIDADE LIMITADA","HGBS11 - HEDGE BRASIL SHOPPING FUNDO DE INVESTIMENTO IMOBILIÁRIO DE RESPONSABILIDADE LIMITADA","FII HEDGEBS",{"id":103,"nome":52,"cnpj":104,"endereco":105,"telefone":106,"created_at":107,"updated_at":107},15,"26843225000101","Av. Brigadeiro Faria Lima, 3600, 11º andar, cj 112 - São Paulo - SP","(11) 5412-5400","2026-10-03T18:51:02.000000Z",[109,115,121,127,132,137,142,148,153,159,165,170,175,181,187,193,199,205,211,217],{"id":110,"data":111,"abertura":112,"ultimo":113,"volume":114},3288709,"2026-10-06",18.7,19,702574,{"id":116,"data":117,"abertura":118,"ultimo":119,"volume":120},3289710,"2026-10-07",19.06,19.4,506044,{"id":122,"data":123,"abertura":124,"ultimo":125,"volume":126},3290387,"2026-10-08",19.45,19.46,965016,{"id":128,"data":129,"abertura":125,"ultimo":130,"volume":131},3291062,"2026-10-09",19.41,371647,{"id":133,"data":134,"abertura":119,"ultimo":135,"volume":136},3356852,"2026-10-13",19.31,403780,{"id":138,"data":139,"abertura":135,"ultimo":140,"volume":141},3375565,"2026-10-14",19.11,347593,{"id":143,"data":144,"abertura":145,"ultimo":146,"volume":147},3376549,"2026-10-15",19.15,19.2,406745,{"id":149,"data":150,"abertura":151,"ultimo":151,"volume":152},3377195,"2026-10-16",19.27,199132,{"id":154,"data":155,"abertura":156,"ultimo":157,"volume":158},3444800,"2026-10-19",19.3,19.29,169860,{"id":160,"data":161,"abertura":162,"ultimo":163,"volume":164},3446468,"2026-10-20",19.36,19.34,265435,{"id":166,"data":167,"abertura":168,"ultimo":130,"volume":169},3459885,"2026-10-21",19.44,548867,{"id":171,"data":172,"abertura":119,"ultimo":173,"volume":174},3473682,"2026-10-22",19.42,616641,{"id":176,"data":177,"abertura":178,"ultimo":179,"volume":180},3488253,"2026-10-23",19.52,19.6,496201,{"id":182,"data":183,"abertura":184,"ultimo":185,"volume":186},3566209,"2026-10-26",18,18.59,922306,{"id":188,"data":189,"abertura":190,"ultimo":191,"volume":192},3580133,"2026-10-27",18.65,18.31,745913,{"id":194,"data":195,"abertura":196,"ultimo":197,"volume":198},3593897,"2026-10-28",18.25,18.15,540959,{"id":200,"data":201,"abertura":202,"ultimo":203,"volume":204},3608999,"2026-10-29",18.29,18.09,448528,{"id":206,"data":207,"abertura":208,"ultimo":209,"volume":210},3624850,"2026-10-30",18.24,18.06,192625,{"id":212,"data":213,"abertura":214,"ultimo":215,"volume":216},3682211,"2026-11-03",17.56,16.89,867759,{"id":218,"data":219,"abertura":215,"ultimo":220,"volume":221},3695634,"2026-11-04",17.05,523146,3025454936.25,20.96,"0.81","Ativa",null,"Tijolo","2026-11-05 09:00","0.0095","-0.0575","-0.1026","-0.1022","-0.1663","-0.1475","0.04280",20681,"0.1700","0.0094","Nov\u002F2026","0.0299","0.0598","0.1167","0.0085",12,21,[],"05\u002F11\u002F2026 07:00",9581258.16,0.00555393774370081,{"data_referencia":251,"ativo":252,"passivo":253,"obrigacoes_imoveis":254,"obrigacoes_securitizacao":255,"liquidez":256,"valores_receber":257},"2026-09-01",3723444264.45,697989328.2,604889330.5,33473608.47,17789639.01,133269836.48,{"data_referencia":259,"resultado":260,"rendimentos":261,"percentual":262},"2026-06-30",138090450.12,135853094.444,0.9837978971459956,"Investidores em Geral",[265],"Bolsa","2006-12-28",144355726,205484,{"Pessoa Física":270,"Pessoa jurídica não financeira":271,"Outros fundos de investimento":272,"Investidores não residentes":273,"Fundos de investimento imobiliário":103,"Entidade aberta de previdência complementar":87,"Entidade fechada de previdência complementar":87,"Corretora ou distribuidora":15,"Outros tipos de cotistas não relacionados":15},205129,275,32,23,3572384788.96,{"Imóveis para renda":276,"Cotas de FIIs":277,"Cotas de sociedades imobiliárias":278,"CRI \u002F CRA":279},2258416002.26,976742503.58,268218400.64,69007882.48,{"vacancia_total":281,"lista_imoveis":282,"data_referencia":259,"vacancia_suspeita":11},0.042802995755931855,[283,302,316,330,344,358,372,386,400,413,427,441,455,469,483],{"nome":284,"vacancia":285,"numero_unidades":286,"area":287,"endereco":288,"percentual_inadimplencia":289,"percentual_receitas":290,"inquilinos":291,"ocupacao":301},"Shopping Jardim Sul - 80%",0.016823,174,28740,"Av. Giovanni Gronchi, 5819, Morumbi, São Paulo\u002FSP",0.022971,0.107276,[292,295,297,299],{"setor":293,"percentual_receita_imovel":294,"percentual_receita_fii":294},"Setor1",0,{"setor":296,"percentual_receita_imovel":294,"percentual_receita_fii":294},"Setor2",{"setor":298,"percentual_receita_imovel":294,"percentual_receita_fii":294},"Setor3",{"setor":300,"percentual_receita_imovel":294,"percentual_receita_fii":294},"SetorN",0.983177,{"nome":303,"vacancia":304,"numero_unidades":305,"area":306,"endereco":307,"percentual_inadimplencia":308,"percentual_receitas":309,"inquilinos":310,"ocupacao":315},"Shopping Center Penha - 87,5628%",0.039307,166,29778,"R Dr. João Ribeiro, 304 - Penha de França, São Paulo - SP",-0.021768,0.086643,[311,312,313,314],{"setor":293,"percentual_receita_imovel":294,"percentual_receita_fii":294},{"setor":296,"percentual_receita_imovel":294,"percentual_receita_fii":294},{"setor":298,"percentual_receita_imovel":294,"percentual_receita_fii":294},{"setor":300,"percentual_receita_imovel":294,"percentual_receita_fii":294},0.960693,{"nome":317,"vacancia":318,"numero_unidades":319,"area":320,"endereco":321,"percentual_inadimplencia":322,"percentual_receitas":323,"inquilinos":324,"ocupacao":329},"Boulevard Shopping Bauru - 100%",0.024762,162,34550,"Rua Marcondes Salgado, Quadra 11, Bauru – SP",0.000928,0.065768,[325,326,327,328],{"setor":293,"percentual_receita_imovel":294,"percentual_receita_fii":294},{"setor":296,"percentual_receita_imovel":294,"percentual_receita_fii":294},{"setor":298,"percentual_receita_imovel":294,"percentual_receita_fii":294},{"setor":300,"percentual_receita_imovel":294,"percentual_receita_fii":294},0.975238,{"nome":331,"vacancia":332,"numero_unidades":333,"area":334,"endereco":335,"percentual_inadimplencia":336,"percentual_receitas":337,"inquilinos":338,"ocupacao":343},"Capim Dourado Shopping - 60%",0.024796,161,39001,"Q. 107 Norte Avenida NS 5, s\u002Fn - Plano Diretor Norte, Palmas - TO",-0.000992,0.052593,[339,340,341,342],{"setor":293,"percentual_receita_imovel":294,"percentual_receita_fii":294},{"setor":296,"percentual_receita_imovel":294,"percentual_receita_fii":294},{"setor":298,"percentual_receita_imovel":294,"percentual_receita_fii":294},{"setor":300,"percentual_receita_imovel":294,"percentual_receita_fii":294},0.975204,{"nome":345,"vacancia":346,"numero_unidades":347,"area":348,"endereco":349,"percentual_inadimplencia":350,"percentual_receitas":351,"inquilinos":352,"ocupacao":357},"Tivoli Shopping - 59%",0.017546,144,25779,"Av. Santa Barbara, 777 - Vila Mollon IV, Santa Bárbara D'Oeste - SP",0.036657,0.051058,[353,354,355,356],{"setor":293,"percentual_receita_imovel":294,"percentual_receita_fii":294},{"setor":296,"percentual_receita_imovel":294,"percentual_receita_fii":294},{"setor":298,"percentual_receita_imovel":294,"percentual_receita_fii":294},{"setor":300,"percentual_receita_imovel":294,"percentual_receita_fii":294},0.982454,{"nome":359,"vacancia":360,"numero_unidades":361,"area":362,"endereco":363,"percentual_inadimplencia":364,"percentual_receitas":365,"inquilinos":366,"ocupacao":371},"ParkShopping São Caetano - 20%",0.043743,252,39252,"Alameda Terracota, 545 - Cerâmica, São Caetano do Sul - SP, 09531-190",-0.000262,0.048569,[367,368,369,370],{"setor":293,"percentual_receita_imovel":294,"percentual_receita_fii":294},{"setor":296,"percentual_receita_imovel":294,"percentual_receita_fii":294},{"setor":298,"percentual_receita_imovel":294,"percentual_receita_fii":294},{"setor":300,"percentual_receita_imovel":294,"percentual_receita_fii":294},0.956257,{"nome":373,"vacancia":374,"numero_unidades":375,"area":376,"endereco":377,"percentual_inadimplencia":378,"percentual_receitas":379,"inquilinos":380,"ocupacao":385},"Mooca Plaza Shopping - 20%",0.007928,218,42066,"Rua Cap. Pacheco e Chaves, 313 - Mooca, São Paulo - SP",0.006127,0.045452,[381,382,383,384],{"setor":293,"percentual_receita_imovel":294,"percentual_receita_fii":294},{"setor":296,"percentual_receita_imovel":294,"percentual_receita_fii":294},{"setor":298,"percentual_receita_imovel":294,"percentual_receita_fii":294},{"setor":300,"percentual_receita_imovel":294,"percentual_receita_fii":294},0.992072,{"nome":387,"vacancia":388,"numero_unidades":389,"area":390,"endereco":391,"percentual_inadimplencia":392,"percentual_receitas":393,"inquilinos":394,"ocupacao":399},"São Bernardo Plaza Shopping - 35%",0.055534,187,42954,"Av. Rotary, 624 - Centro, São Bernardo do Campo - SP",0.005337,0.039619,[395,396,397,398],{"setor":293,"percentual_receita_imovel":294,"percentual_receita_fii":294},{"setor":296,"percentual_receita_imovel":294,"percentual_receita_fii":294},{"setor":298,"percentual_receita_imovel":294,"percentual_receita_fii":294},{"setor":300,"percentual_receita_imovel":294,"percentual_receita_fii":294},0.944466,{"nome":401,"vacancia":402,"numero_unidades":305,"area":403,"endereco":404,"percentual_inadimplencia":405,"percentual_receitas":406,"inquilinos":407,"ocupacao":412},"Shopping West Plaza - 70%",0.082409,35059,"Av. Francisco Matarazzo s\u002Fn, Bloco B, São Paulo, SP",0.079999,0.037503,[408,409,410,411],{"setor":293,"percentual_receita_imovel":294,"percentual_receita_fii":294},{"setor":296,"percentual_receita_imovel":294,"percentual_receita_fii":294},{"setor":298,"percentual_receita_imovel":294,"percentual_receita_fii":294},{"setor":300,"percentual_receita_imovel":294,"percentual_receita_fii":294},0.917591,{"nome":414,"vacancia":415,"numero_unidades":416,"area":417,"endereco":418,"percentual_inadimplencia":419,"percentual_receitas":420,"inquilinos":421,"ocupacao":426},"Shopping Villa Lobos - 15%",0.033735,211,28374,"Av. das Nações Unidas, 4777, São Paulo - SP",-0.001255,0.031991,[422,423,424,425],{"setor":293,"percentual_receita_imovel":294,"percentual_receita_fii":294},{"setor":296,"percentual_receita_imovel":294,"percentual_receita_fii":294},{"setor":298,"percentual_receita_imovel":294,"percentual_receita_fii":294},{"setor":300,"percentual_receita_imovel":294,"percentual_receita_fii":294},0.966265,{"nome":428,"vacancia":429,"numero_unidades":430,"area":431,"endereco":432,"percentual_inadimplencia":433,"percentual_receitas":434,"inquilinos":435,"ocupacao":440},"Shopping Praça da Moça - 23,06%",0.015125,138,31367,"Rua Manoel da Nobrega, 712, Centro, Diadema - SP",-0.016187,0.02403,[436,437,438,439],{"setor":293,"percentual_receita_imovel":294,"percentual_receita_fii":294},{"setor":296,"percentual_receita_imovel":294,"percentual_receita_fii":294},{"setor":298,"percentual_receita_imovel":294,"percentual_receita_fii":294},{"setor":300,"percentual_receita_imovel":294,"percentual_receita_fii":294},0.984875,{"nome":442,"vacancia":443,"numero_unidades":444,"area":445,"endereco":446,"percentual_inadimplencia":447,"percentual_receitas":448,"inquilinos":449,"ocupacao":454},"Shopping Jaraguá Araraquara - 25%",0.026356,117,21145,"Avenida Alberto Benassi, 2.270, Jardim dos Manacas, Araraquara, SP",-0.003702,0.01479,[450,451,452,453],{"setor":293,"percentual_receita_imovel":294,"percentual_receita_fii":294},{"setor":296,"percentual_receita_imovel":294,"percentual_receita_fii":294},{"setor":298,"percentual_receita_imovel":294,"percentual_receita_fii":294},{"setor":300,"percentual_receita_imovel":294,"percentual_receita_fii":294},0.973644,{"nome":456,"vacancia":457,"numero_unidades":458,"area":459,"endereco":460,"percentual_inadimplencia":461,"percentual_receitas":462,"inquilinos":463,"ocupacao":468},"Santana Parque Shopping - 15%",0.076597,154,24626,"Rua Conselheiro Moreira de Barros, 2.780, São Paulo - SP",-0.028716,0.012443,[464,465,466,467],{"setor":293,"percentual_receita_imovel":294,"percentual_receita_fii":294},{"setor":296,"percentual_receita_imovel":294,"percentual_receita_fii":294},{"setor":298,"percentual_receita_imovel":294,"percentual_receita_fii":294},{"setor":300,"percentual_receita_imovel":294,"percentual_receita_fii":294},0.923403,{"nome":470,"vacancia":471,"numero_unidades":472,"area":473,"endereco":474,"percentual_inadimplencia":475,"percentual_receitas":476,"inquilinos":477,"ocupacao":482},"Franca Shopping - 0,3673897836%",0.013404,106,18955,"Av. Rio Negro, 1.100, Franca - SP",0.001215,0.000249,[478,479,480,481],{"setor":293,"percentual_receita_imovel":294,"percentual_receita_fii":294},{"setor":296,"percentual_receita_imovel":294,"percentual_receita_fii":294},{"setor":298,"percentual_receita_imovel":294,"percentual_receita_fii":294},{"setor":300,"percentual_receita_imovel":294,"percentual_receita_fii":294},0.986596,{"nome":484,"vacancia":485,"numero_unidades":486,"area":487,"endereco":488,"percentual_inadimplencia":489,"percentual_receitas":294,"inquilinos":490,"ocupacao":495},"Goiabeiras Shopping - 53,99%",0.179099,160,25830,"Av. José Monteiro Figueiredo, 500 - Duque de Caxias, Cuiabá - MT",0.256096,[491,492,493,494],{"setor":293,"percentual_receita_imovel":294,"percentual_receita_fii":294},{"setor":296,"percentual_receita_imovel":294,"percentual_receita_fii":294},{"setor":298,"percentual_receita_imovel":294,"percentual_receita_fii":294},{"setor":300,"percentual_receita_imovel":294,"percentual_receita_fii":294},0.820901,{"data_referencia":259,"prazos":497,"indexadores":498,"receita_aluguel_trimestre":514,"valor_imoveis":515,"cap_rate":516,"receita_sobre_mercado":517,"aluguel_m2_mes":518,"area_ocupada":519},[],[499,502,505,508,511],{"nome":500,"percentual":501},"IGP-DI",0.369496,{"nome":503,"percentual":504},"IGP-M",0.337311,{"nome":506,"percentual":507},"IPCA",0.278241,{"nome":509,"percentual":510},"IPC",0.014756,{"nome":512,"percentual":513},"INPC",0.000196,55724228,2281937637.74,0.097679,0.090562,41.51,447467,{"id":521,"nome":522,"cnpj":523,"endereco":524,"telefone":525,"created_at":526,"updated_at":526},14,"GRANT THORNTON AUDITORES INDEPENDENTES LTDA","10830108000165","Av. Engenheiro Luís Carlos Berrini, 105 - 12º andar - Itaim Bibi, São Paulo - SP, 04571-010","(11) 3886-5100","2026-10-03T18:50:58.000000Z",{"ano_referencia":528,"data_disponibilizacao":529},"2025","2026-03-31",{"ResultadoFundo":531,"ConjunturaEconomica":532,"PerspectivaPeriodoSeguinte":533},"O fundo recebe, mensalmente, o resultado gerado pelos ativos que compõem o seu patrimônio. Durante o exercício de 2025 o Fundo auferiu rendimentos que somaram R$ 7,62 por cota.","Em 2025 a economia brasileira apresentou crescimento moderado, com expansão do PIB de aproximadamente 2,3%, uma desaceleração em relação ao ano anterior, refletindo condições monetárias mais restritivas. O período foi marcado pelo aumento e manutenção da SELIC em patamares elevados, encerrando 2025 em 15% ao ano, visando a contenção de pressões inflacionárias ao longo do ano, com o IPCA fechando o período em 4,26%, abaixo do teto da meta de inflação. Vale destacar a boa performance dos ativos de renda variável, apesar do cenário macroeconômico desafiador, especialmente o IFIX e o IBOVESPA, crescendo 21,1% e 34,0% respectivamente no acumulado de 2025.\nNesse contexto, o consumo das famílias e o comércio varejista mantiveram crescimento, porém em ritmo mais lento, com alta de cerca de 1,6% nas vendas do varejo em 2025. O mercado de shoppings centers, segmento no qual o fundo se insere, apresentou um faturamento em 2025 de R$ 200,9 bilhões segundo o Censo 2025\u002F2026 realizado pela Abrasce, o que significa um crescimento de 1,3% vs. o ano de 2024. Levando-se em conta o faturamento por m², em 2025 o setor apresentou crescimento, em termos nominais, de 0,4% quando comparado ao valor apresentado em 2024.","No período seguinte, acreditamos que os imóveis da carteira se manterão resilientes, mesmo num ambiente de taxas de juros ainda em patamares bastante restritivos. Ao longo do exercício seguinte, esperamos que se inicie um novo ciclo de afrouxamento monetário que poderá favorecer o consumo, impactando positivamente o resultado dos shopping centers e consequentemente o resultado do Fundo. Adicionalmente, acreditamos que o aumento da renda líquida disponível gerado pela nova tabela do IRPF para 2026 irá incentivar um aumento do consumo para as famílias afetadas, o que poderá se traduzir no crescimento do faturamento de vendas para os shopping centers que atendem o público da nova faixa de isenção."]