Hedge Brasil Shopping Fundo de Investimento Imobiliário (HGBS11), one of Brazil's largest retail-focused Real Estate Investment Trusts, has signed a purchase commitment to acquire the remaining 75% stake in Shopping Jaraguá Araraquara for R$ 216.3 million, a move that will grant the fund 100% control of the asset. The transaction for the shopping mall in São Paulo state is based on an implied acquisition cap rate of 9%, calculated using the projected net operating income (NOI) for the next 12 months following the estimated closing date. The agreement is a significant consolidation for the HGBS11 portfolio and remains conditional upon standard regulatory procedures, including the final approval from Brazil’s antitrust regulator, CADE (Conselho Administrativo de Defesa Econômica).