Matias Castagnino's questions to IRSA INVESTMENTS & REPRESENTATIONS (IRS) leadership • Q3 2023
Question
Matias Castagnino of BCP asked about the long-term strategy for the office building recently acquired from the city of Buenos Aires, specifically regarding plans after the 18-month free rent period ends, including potential rental or sale.
Answer
Jorge Cruces (CIO) detailed that the building's prime location offers flexibility. The primary plan is to upgrade it to a Class A or AAA office building for rental. However, given the area's trend towards residential development, they are also evaluating a conversion to residential units for sale. A final decision on whether to keep it as office space or convert it for residential sale will be made within the next 18 months.