Alto Palermo SA (APSA) is an Argentina-based real estate company. The Company is engaged in the ownership, leasing, development, management, acquisition and operation of shopping centers in Argentina. The Company's retail real estate portfolio comprises 13 shopping centers in Argentina, six of which are located in the city of Buenos Aires, two in the Greater Buenos Aires area, and five in the cities of Cordoba, Mendoza, Salta and Santa Fe. As of June 30, 2012, the Company�s shopping centers comprised a total of 309,021 square meters of gross leasable area. The Company is involved in the acquisition and development of apartment complexes and residential communities, acquisition of undeveloped lands and sales of such undeveloped lands. Additionally, it is engaged in the consumer financing business and offers loans, and management activities related to credit card products for consumers of the Company's shopping centers, hypermarkets and street-level stores.