/ About Us
Executive summary
Acosta Verde is a Mexican company engaged in planning, developing, marketing, operating, and managing community shopping centers. The Company was established in 1970 in the city of Monterrey, Nuevo Leon, by architect Jesús Acosta Verde.
Throughout its more than 52 years of experience and as a pioneer in the industry, Acosta Verde has developed 44 retail properties totaling over 1.6 million m2 spread across 16 Mexican states. The foregoing, coupled with its flagship brand “Plaza Sendero”, enabled the Company to become a benchmark in Mexico's shopping center market.
In this context, thanks to Acosta Verde's broad experience, the Plaza Sendero concept was conceived in 2002 to become a successful shopping center model featuring high occupancy rates and visitor traffic, designed to meet the primary consumption, leisure, and service needs of the Mexican population.
As of December 31, 2022, Acosta Verde's portfolio was composed by 17 Plaza Sendero shopping centers operating in 9 Mexican states, mainly in the northern and central regions. Additionally, the Company receives revenue from the management of three shopping centers developed for third parties and has a project under development in Baja California, which was initiated in early 2020 (currently halted until economic conditions are deemed optimal).
During 2020, through the merger with Promecap Acquisition Company or “PAC” (the absorbed company), Acosta Verde became a publicly traded company on the Mexican stock market under the name Acosta Verde, S.A.B. de C.V., and ticker symbol “GAV” (the Company issued stock certificates in 2007 and 2015). This event marked a major milestone for the history of Acosta Verde, making it the first company to be listed on the Mexican Stock Exchange through a merger with a Special Purpose Acquisition Company (SPAC).
Consequently, in addition to the institutional backing of Equity International, a renowned international private equity firm which has been a shareholder of Acosta Verde since 2015, the Company has the support of Promecap to strengthen its corporate governance.
Acosta Verde's corporate headquarters are located at Avenida Pedro Ramírez 200-1, San Pedro Garza García, Nuevo León, Mexico, 66269; with phone number +52 81 1001-98000.
About Acosta Verde
Acosta Verde operates with a strong commitment to its tenants and visitors, guided by an emphasis on loyalty and sensibility. The success of the Company is primarily founded on seizing growth opportunities in its efforts to satisfy market needs, relying on partnerships with leading brands such as Soriana, Casa Ley, S-Mart, Merco, Cinépolis, Woolworth, Coppel, Del Sol, Suburbia, Promoda, Ultra Gym, Cuidado con el Perro, Parisina, among others.
By developing shopping centers tailored to market demands and new consumer trends of its customers, Acosta Verde transforms traditional shopping into a casual, pleasant, and comfortable experience for each family member who visits its shopping centers. Additionally, the Company fosters a comfortable environment to ensure its tenants and their employees work under the best possible conditions.
Mission
Develop and manage innovative shopping centers to create emotions and unique experiences for our visitors, promote the well-being of our people, and maintain strong ties with our business partners, creating value to our shareholders.
Vision
To be the most profitable shopping center operator in Mexico, through our focus on:
Philosophy
Build long-lasting relationships with clients, investors, and partners through a commitment to work and ongoing improvement in processes and services across all areas.
/ Business segments
LEASING OF PREMISES
The strategic locations of Acosta Verde's Plazas Sendero (major avenues in metropolitan areas and secondary cities in Mexico, where there is an under-penetration of community shopping centers), together with their strategic tenant composition (mix of essential businesses and services with diverse entertainment options) and their focus on delivering a unique shopping experience (first class amenities, events, promotions, among others) ensure a steady visitor traffic that drives shared growth between their tenants and the Company.
LEASING OF COMMON AREAS
Through the rental of common areas, Acosta Verde seeks to maximize the capacity of its shopping centers to generate additional revenue to its retail spaces. These revenue streams include parking lots, advertising programs, marketing spots, leasing of common areas for events, among others.
Parking Lots
Acosta Verde generates a complementary revenue stream by charging for parking slots, capitalizing on the significant vehicle traffic resulting from the high visitor affluence at its Plazas Sendero.
Advertising
The Company taps into the high visitor affluence at its shopping centers by offering brands the opportunity to place indoor or outdoor advertisements, as this gives them the opportunity to be closer to their customers and influence more directly in their product or service purchasing decisions.
SHOPPING CENTER MANAGEMENT
Acosta Verde's extensive experience has led it to fine-tune a 100% customer-oriented shopping center management strategy noted for its dynamic and innovative approach.
Commission Fee
3% of total shopping center revenue.
Asset management fee
For asset management services.
Leasing Commission
Charge a minimum of 3 months' rent or 5% of the total lease value if it is the first contract or 4% if it is a renewal. In addition, in the case of projects built before 2010, the Company charges for ongoing improvement programs.
The experience gained by Acosta Verde over more than 52 years of history, as reflected in its performance, hand in hand with the professional skills of its employees, enables it to provide a comprehensive service geared towards the management of shopping centers, covering security, cleaning, maintenance, finance, commercial, marketing, and legal aspects.
The Company's primary focus is to create a safe, clean, and healthy environment where every family member can satisfy their shopping needs and enjoy a wide range of entertainment activities. For this reason, although the effects of the pandemic gradually eased throughout the year and the portfolio operated without any government restriction on business activity or visitor affluence at year-end, Acosta Verde is maintaining the COVID-19 health & safety protocols designed in accordance with the guidelines established by local, state and federal authorities, with the purpose of safeguarding the well-being of visitors, tenants and employees.
Acosta Verde understands that the success of its shopping center lies in the preference of consumers and the satisfaction of its tenants. That is why the Company carries out several initiatives aimed at providing them a pleasant and safe environment, as well as the best shopping experience, which ultimately brings greater value to the organization.
For example, the Company offers conferences to its tenants and their employees to help them improve customer service and support, providing everyone who is part of Plaza Sendero shopping centers with training in an organized and comprehensive manner.
The “¡Revoluciona tu Sendero!” program, developed by Acosta Verde's team in 2012, is one of its greatest achievements as a shopping center management through which the Company teaches sales closing techniques and customer service skills.
SHOPPING CENTER DEVELOPMENT
Development fee:
8% of the cost of land plot and construction.
Development process:
The development of the shopping center takes only 10 months
Leasing fee:
A minimum between 5% of the contract value and the equivalent of 3 months' rent for initial leases.
Acosta Verde applies a highly parameterized system to control development schedule and costs.
Development investment totals Ps.800 millions plus VAT.
The Company plans to bolster the growth of the main anchors through the selection of land plots located in key strategic markets.
/ History
/ Relevant events
In early 2022, architect Miguel Ángel Reyes Vidales, who held the position of Acosta Verde Construction's Director for 32 years, decided to retire after a career filled with many outstanding contributions to the Company.
