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3Q16

HIGHLIGHTS
 
Occupancy in our mature portfolio continued to improve over the previous quarters, reaching 98.4% while overall occupancy also improved to 94.8% in 3Q16.
 
Same-store rents (SSR) continued to increase in 3Q16, growing 4.7% compared to 3Q15. In 9M16, the index reported a 5.1% growth over the same period of 2015. 
 
Tenants’ sales grew 1.2% in the 3Q16, showing some positive signs of recovery.
 
Same-store sales (SSS) increased 0.3% in 3Q16 compared to 3Q15, reflecting the recovery of some satellite tenants’ segment and another good movie season. This was the third consecutive quarter with SSS index improvement.
 
Net revenue totaled R$83.4 million in 3Q16, roughly in line with 3Q15. In 9M16 the consolidated net revenue grew 1.9% y-o-y to R$249.2 million.
 
Gross rental revenue totaled R$78.3 million in the quarter, a 5.0% increase over 3Q15 and, in the first nine months of 2016 rent revenue totaled R$232.6 million, growing 4.9% over the same period of 2015.
 
NOI reached R$80.5 million in 3Q16, a 1.9% increase over the same period of last year. In 9M16, NOI reached R$239.9 million, a 3.6% growth y-o-y. 
 
EBITDA was R$56.1 million in 3Q16, 3.7% lower than in 3Q15. EBITDA totaled R$173.2 million in the nine six months of 2016, increasing 0.4% over 9M15.
 
The late payment index reported a decrease over the previous quarter, at 5.55% in 3Q16.
 
The Company is in final negotiation stages for the sale of two plots of land adjacent to Uberlândia Shopping. These land plots will be used for the development of residential towers and a hotel.