Deal Spotlight – Madrona Advogados Advises ALLOS on the Sale of its Stake in Shopping Curitiba

Madrona Advogados recently advised on a significant transaction in the Brazilian real estate and shopping centre sector, acting for ALLOS S.A. on the sale of its 49% ownership interest in Shopping Curitiba. 

Real Estate | Capital Markets — signed and closed 26 June 2026 

ALLOS is Brazil's largest shopping centre operator, listed on the B3 stock exchange, with a portfolio spanning the country's major cities. The sale of its 49% interest in Shopping Curitiba — a landmark retail destination in the capital of Paraná state since 1996 — forms part of the company's active portfolio management and capital allocation strategy, focused on long-term value creation. 

The stake was acquired by an investment vehicle formed by Grupo Soifer, a Curitiba-based group with more than five decades in the real estate and shopping centre sectors, together with two real estate investment funds (FIIs): Capitânia Shoppings FII and Pátria Malls FII. 

Madrona advised ALLOS throughout the negotiation and successful closing of the transaction, including the preparation and negotiation of all transaction documents. The involvement of real estate investment funds on the buy side meant the matter drew on two of the firm's practices working in tandem: the Real Estate team, led by partner Gustavo Maia with Matheus Pedrosa Hipólito, and the Capital Markets team, led by partner Luis Bellini with Giuliano Tanganeli. 

The transaction reflects a wider trend in the Brazilian market, where listed operators are recycling capital across their portfolios and FII structures are playing an increasingly prominent role in shopping centre ownership — an area in which Madrona's combined real estate and capital markets strength is a genuine advantage for clients. 

About Deal Spotlight:

Deal Spotlight is a series from Alliott Global Alliance (AGA) highlighting notable transactions and matters handled by AGA representative firms around the world. Previous editions have featured Madrona's recent M&A and capital markets work in Brazil, including Laticínios Catupiry's acquisition of Lactojara, 30E's exclusive concert rights agreement at the Maracanã stadium, and a R$25.5 million agribusiness receivables issuance for Valora, as well as Simont Braun's advice on the sale of MindCapture in Belgium.

About Madrona Advogados:

Madrona Advogados, AGA's legal representative in São Paulo and Brasilia, Brazil, is a full service, top 25 law firm. With a focus on corporate law, mergers and acquisitions, capital markets, financial law, and infrastructure, in addition to a strong performance in tax, real estate, civil litigation, and labor law, the team's motivation is to invest in people and work so that clients reach their goals, always with ethics and responsibility.

With more than 110 legal professionals with great experience and with recommendations by several national and international publications, the team at Madrona Advogados are aligned with the principles and objectives that they set out to achieve.