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7h ago

Argencons Wins Belgrano Lot for $46.5 Million as AABE Pushes Major State-Property Sales

The sales form part of a government plan to monetize surplus real estate for roughly $800 million.

La firma Gepal Sociedad Anónima, una empresa argentina vinculada al grupo Coto, se quedó con un predio del barrio de Retiro donde funciona una sucursal del supermercado
Quartier Bajo Belgrano
El predio es parte del mega plan del Gobierno de desprenderse de 300 inmuebles. 
El mega lote está en la manzana delimitada por Echeverría, Cazadores, Juramento y Artilleros

Overview

  • The nearly one-hectare former Policía Federal block in Bajo Belgrano sold for US$46,568,000 after a 10-bidder contest that more than doubled the US$21.37 million reserve.
  • The site carries no heritage restrictions and the AABE confirmed relocation of two telecom antennas, while police operations are being shifted to facilities in Barracas.
  • Argencons, now majority-owned by Eduardo Costantini’s Consultatio, outlined a Quartier-branded residential project of about 100 large 3–4 bedroom units around a 3,000 m² central garden, with land delivery targeted for June 2026 and construction to start in late 2026.
  • In a separate auction the AABE awarded a 15,720 m² Retiro property to Gepal S.A., a firm linked to Coto, for US$11.9 million at the base price.
  • Local reporting indicates the Coto supermarket, a Santander branch and a two-level McDonald’s operating on the Retiro site will continue for now as the state-asset divestment program reshapes high-value urban parcels.