- The leading real estate investment vehicle in Colombia, owner of 49% of Jardín Plaza Cali, adds 9,699 m2 of leasable area to its portfolio with the expansion of the mall’s north zone.
- The investment in this transaction was COP 77,315 million.
- The northern expansion began in June of 2021, with brands such as H&M, Pull&Bear, Furniture and Accessories, Zara Home and Bodytech complementing the commercial mix of the asset.
Bogota, November 2021Pei, a leading Colombian real estate investment vehicle managed by Pei Asset Management, announced its participation in the expansion plan for the northern zone of Jardín Plaza Cali shopping center, with an equivalent stake of 49%, corresponding to a leasable area of 29,697 m. The investment in this transaction was COP 77,315 million.
«Jardín Plaza is a flagship project for Cali and representative of Pei. We are pleased to realize this expansion that complements the commercial offerings and will provide new shops and additional services to visitors of the area,» said Jairo Corrales, president of Pei Asset Management.
This transaction is part of Jardín Plaza’s growth strategy, which Pei has been supporting since 2015 when they acquired 49% as an asset to their portfolio. This project in Cali has a positive commercial impact on the city and its residents, as it provides a multi-category space that makes it a comprehensive experience center catering to all visitors’ needs.
The new expansion in the northern area of Jardín Plaza Cali, the largest and most modern shopping center in the city, also the sixth in Latin America, features brands such as H&M, Pull&Bear, Muebles y Accesorios, Zara Home and Bodytech. It brings together 67 new commercial units where visitors will find well-known fashion brands, design stores, home decor shops, and sporting goods stores.
The facility located on the Eastern Ring Road was the first in the region to receive the Biosecurity Operations certification from Icontec (2020), which guarantees best practices for the prevention and safety of people, in accordance with the health emergency.
Pei’s investments in Cali and the Cauca Valley
Over the past few years, Pei has strengthened its presence in Cali, the second-largest city in Colombia with the highest concentration of portfolio assets.
Currently, Pei manages a total of 20 assets in this region of the country, distributed across commercial (9), corporate (2), specialized (3), and logistics (6) sectors. Cali and the Valle del Cauca are a major driver of the Colombian economy, as well as one of the main logistical and industrial centers. Therefore, Pei believes that all these competitive advantages will contribute to the development, progress, and revitalization of the region.
Pei Asset Management, real estate investment vehicle management company
Pei Asset Management is a company specializing in the structuring and comprehensive management of real estate investment vehicles in Colombia. It has the highest rating for portfolio management efficiency, G-aaa, awarded by BRC Standard & Poor’s S&P Global since 2009.
For the past 14 years, Pei Asset Management has been characterized by contributing to the well-being of society through the democratization of investment opportunities, creating physical spaces that benefit the community, and supporting the growth of its partners.
Their expert team works daily to build and maintain long-term relationships with investors, tenants, and other stakeholders.
Pei, real estate investment vehicle, leading company in Colombia
Currently, Pei Asset Management manages the real estate portfolio of Pei, a leading real estate investment vehicle in Colombia, valued at approximately $COP 7.55 trillion. This includes approximately 148 properties representing around 1.1 million square meters of leasable area, located in 30 cities and municipalities across the country.
The diversified portfolio, characterized by its asset types, geographic location, and tenants, includes the following categories: corporate, logistics, industrial, commercial, specialized, and accommodation.
Pei provides a reliable investment option with appealing returns, high liquidity, and a focus on establishing long-term relationships with its over 4,600 investors and over 2,000 tenants.