About us
Executive Summary
Grupo Acosta Verde is a Mexican company engaged in the planning, development, marketing, operation, and management of community centers. Founded in 1970 by architect Jesús Acosta Verde, Grupo Acosta Verde has become a major shopping center owner in Mexico.
Over its more than 40 years of experience, Acosta Verde has developed 44 commercial properties, totaling more than 1.6 million sqm, across 16 Mexican states.
This extensive experience was instrumental for the creation of Acosta Verde’s flagship concept in 2002, the “Plaza Sendero” shopping center brand , a proven model of community centers renowned for its high occupancy levels and visitor traffic, focused on satisfying the primary consumption, leisure, and service needs in Mexico.
At the end of 2021, Acosta Verde’s portfolio consisted of 17 Plaza Sendero shopping centers, distributed in 9 states, mainly in Northern and Central Mexico. Additionally, the Company generates income from the management of 4 shopping centers developed for third parties and has one shopping center under development (currently on hold until economic and sanitary conditions are deemed suitable by Acosta Verde’s Management).
An important milestone in Acosta Verde’s history took place in 2020 when, through its merger with Promecap Acquisition Company or “PAC” (disappearing company), it became a publicly-traded company under the name Acosta Verde, S.A.B. de C.V. and ticker symbol “GAV”, making it the first issuer to be listed on the Mexican Stock Market as a result of a business combination with a Special Purpose Acquisition Company (SPAC).
With the incorporation of Promecap, Acosta Verde further strengthened its corporate governance structure, which already had the institutional backing of Equity International, a renowned international private equity firm focused on real estate that has been a shareholder of Acosta Verde since 2015.
Acosta Verde’s corporate headquarters are located at Avenida Pedro Ramírez 200-1, Colonia Valle Oriente, San Pedro Garza García, Nuevo León, México, 66269; with phone number +52 (81) 1001-9800.
About Us
We are known for our strong commitment of loyalty and care to our clients, whether they are tenants or consumers. At the heart of our success is the ability to identify growth opportunities and fully capitalize on them to meet market needs, working together with leading brands such as Soriana, Casa Ley, S-Mart, Merco, Cinépolis, Woolworth,Coppel, Del Sol, Suburbia, Promoda, among others.
We develop shopping centers in line with market trends and changes in consumer preferences, incorporating core entertainment and community features, with the purpose of turning typical shopping into a natural, pleasant and comfortable experience for each customer. Likewise, we constantly strive to create a positive working environment for our tenants and their employees.
Our Values
Business Segments
Shopping Centers
LEASING OF PREMISES
Our Sendero Plazas are strategically located on
major avenues in metropolitan areas and secondary
cities in Mexico (where there is an under-penetration
of community shopping centers), providing easy
access to visitors and mall visibility. This, together
with its strategic tenant composition (mix of essential
businesses and services coupled with diverse
entertainment options) and its focus on delivering a
unique shopping experience (first class amenities,
events, promotions, among others), ensure a steady
visitor traffic, allowing our tenants to grow hand in
hand with Acosta Verde.
LEASING OF COMMON AREAS
Comprises shopping centers’ revenue sources other
than leasing of retail space: parking lots, marketing
spots, advertising programs, leasing of common areas
for events, among others.
PARKING SLOTS
Our Sendero Plazas are strategically located on major avenues in metropolitan areas and secondary cities in Mexico (where there is an under-penetration of community shopping centers), providing easy access to visitors and mall visibility. This, together with its strategic tenant composition (mix of essential businesses and services coupled with diverse entertainment options) and its focus on delivering a unique shopping experience (first class amenities, events, promotions, among others), ensure a steady visitor traffic, allowing our tenants to grow hand in hand with Acosta Verde.
LEASING OF COMMON AREAS
Comprises shopping centers’ revenue sources other than leasing of retail space: parking lots, marketing spots, advertising programs, leasing of common areas for events, among others.
By charging for parking slots, we capitalize on the high vehicle traffic brought about by the high visitor traffic at the Plazas Sendero, bringing a complementary revenue stream.
ADVERTISING
In the same way, we tap into visitor affluence by offering brands the opportunity to advertise inside or outside our shopping centers, giving them a great opportunity to reach out to their customers and influence more directly in their consumption decisions.
Shopping Center Management
Our extensive experience has led us to perfect our shopping center management strategy, which is characterized as dynamic, innovative and 100% focused on customer service.
By leveraging Acosta Verde’s fire-tested experience, as reflected in our portfolio performance, and the expertise of our senior executive team, we offer a comprehensive service geared towards the management of shopping centers, covering security, cleaning, maintenance, brand image, finance, commercial, marketing, and legal aspects.
We seek to create a welcoming shopping and leisure environment for families, while providing the best safety, health, and sanitary conditions. In this regard, during 2021, and for as long as necessary, our operations will continue to abide by strict protocols introduced to protect our tenants, employees, and visitors to COVID-19, which were drawn up in accordance with the guidelines issued by local, state, and federal authorities. This H&S program encompasses actions to protect visitors, tenants, and employees in the shopping centers.
As for our know-how and experience managing companies, one of our greatest success stories is the “Revoluciona tu Sendero!” program, fully developed by our team in 2012, which consists of teaching sales closing techniques and customer service skills.
Following the same approach, we offer lectures to our tenants to improve their customer service and support, providing training in an orderly and integral manner to all those who are part of our shopping centers.
We are well aware that the success of our shopping centers relies largely on the preference of our consumers and the satisfaction of our tenants. For this reason, we make every effort to provide them with a pleasant and safe space, as well as the best shopping experience, aiming to increase the company’s value and, consequently, the shareholders’ equity.
Shopping center Development
- Development Fee: 8% of the cost of land plot and construction.
- Development Process: We only need 10 months to develop a shopping center.
- Management Fee: Initial leases, the minimum between 5% of the contract value and the equivalent of the 3 months’ rent.
- A highly parameterized scheme is followed, which enables an effective control of development schedules and costs.
- The total investment is Ps.700 million plus VAT.
- The aim is to support the growth of the main anchors through the selection of suitable land plots.
Our Journey
Highlights
As of April 30, as part of its corporate restructuring, Acosta Verde’s Commercial Division also took over the duties of the Shopping Centers Division, seeking to improve its operational platform in an efficient manner.
On August 6, on the back of its strong cash position and with the prospect of growing through acquisitions, Acosta Verde submitted a non-binding offer to acquire 100% of the capital stock of Planigrupo Latam, S.A.B. de C.V. (“Planigrupo”), a developer of shopping centers in Mexico. Acosta Verde made the same offer again on January 20, 2022. On March 28, 2022, the shareholders’ meeting of Planigrupo resolved to maintain talks with Acosta Verde in connection with the offer and to continue with the process of pursuing and studying alternatives for the sale of the Company.
On November 23, Acosta Verde completed the warrant exchange process as part of its merger with Promecap.
