Pei completes the acquisition of a 50% stake in the Jardín Plaza Cúcuta shopping center.

mins to read

April 8, 2020

Pei completed the purchase of 50% shares in Jardín Plaza Cúcuta Shopping Center.
The shopping center has a lettable area of 31,325 square meters.² and 180 local businesses.
Jardín Plaza Cúcuta, which opened to the public in 2019, becomes the first commercial property in Pei’s portfolio in Norte de Santander.

Bogotá D.C., april 2020. Pei, real estate investment vehicle, the leading commercial center in the country, managed by Pei Asset Management, has linked its investment portfolio to the Garden Plaza Cúcuta shopping center, the second largest under the Garden Plaza brand.

With this acquisition, Pei and his business partners aim to replicate the successful business and management model for over 20 years in the city of Cali, and now in the city of Cucuta.

The property, which began operating in 2019 and is located in the capital of Norte de Santander, has a leasable area of 31,325 m².² and 180 local businesses, of which, Pei acquired 50 % stake, corresponding to 16,265 units.²with an investment of COP 83,503 million.

The unique combination of local, national, and international brands, along with dining areas and restaurants, makes Jardín Plaza Cúcuta an attractive destination, which also features a special open-air architectural design with integrated vegetation in its walkways.

The acquisition of Jardín Plaza Cúcuta enables Pei to further diversify its real estate portfolio geographically within Colombia, while also benefiting from the positive impact these properties have on the dynamics and well-being of communities in other cities., said Jairo Alberto Corrales, President of Pei Asset Management.

With this purchase, Pei continues to strengthen its portfolio consisting of 146 assets across corporate, commercial, logistics, and industrial, specialized, and accommodation sectors, in 30 cities in Colombia, representing more than 1 million m.²by leasable area, valued at more than COP 6,5 trillion, which confirms the vehicle’s interest in contributing to economic development in different areas of the country.

EXPLORE MORE CONTENT

Pei completes the acquisition of a 50% stake in the Jardín Plaza Cúcuta shopping center.

Similar articles

Pei repays $300.000 million in debt after the divestment of Plaza Central.

Pei reports revenues of over COP 220.000 million in the first quarter of 2026, and is advancing its divestment strategy.

Pei held the 2026 Investor General Meeting and presented strategic priorities for the year.

Pei confirms partial sale of Plaza Central and incorporates Cenco Malls as a strategic partner

Pei reports revenue of approximately $COP 822.000 million in 2025 and announces extraordinary distributable cash flow for investors.

Pei reports revenues exceeding $COP 600,000 million in the current year and reaffirms its position as a frequent issuer, following a successful bond issuance.

Pei strengthens its position as a leading player in the Colombian stock market with its fourth inclusion in a stock index: S&P Colombia Select.

Pei successfully won a lawsuit claiming nearly 300% profit on its twelfth issuance of equity securities.

Pei reports revenues exceeding COP 400,000 million in the current year and confirms the issuance of equity securities.

Pei’s revenue exceeds COP 205,000 million in the first quarter of the year, with notable financial margins.

Pei held the 2025 Investor General Meeting, where progress in managing the fund’s strategy was discussed.

Fiduciaria Corficolombiana has changed its company name to AVAL Fiduciaria S.A.

Plaza Central becomes the first shopping center to achieve LEED Platinum O+M in Colombia

CityU is the first university in Colombia to achieve sustainable accreditation.

In the first half of the year, Pei has generated revenues exceeding COP 560,000 million, an increase of 10.4% compared to the previous year.

New offices for the State Insurance Department in Amadeus, a Pei project.

Pei moves to ninth place in the BVC’s MSCI COLCAP index.

Pei generated revenue of over COP 185,000 million for the second quarter of the year, an increase of approximately 11% compared to the previous year.

Shopping center founded in Cali, recognized as one of the best in Latin America

The Colombian-originated shopping center that is nominated for an international award

Pei will be the first to renovate a property on one of the best locations in Bogotá.

Pei, the second most traded species on the BVC in May

Pei joins the MSCI COLCAP index

Pei started the year with revenues exceeding COP 191,000,, which was 13% higher than the same quarter of the previous year.

BRC Ratings affirmed Pei’s long-term and short-term debt ratings, according to S&P Global.

Pei presents its results 2023 and strategies 2024 at the Annual General Meeting for Investors.

Pei is the most valuable title on the BVC in 2023

Pei closed 2023 with 703,580 million in revenue

Pei announces payment of distributable cash flow for 3T – 2023

Pei’s revenue reached $511.311 million in September, after rising by 15%.

Pei generated revenue of COP 511,311 million in the third quarter of the year.

The PEI title has appreciated to 66% in the current year.

Pei acquires a controlling interest in Rivana Business Park in Medellín.

With COP 120,000 million, Pei acquires 60% of the Sofitel Barú Calablanca and enters the hotel market.

Pei’s shopping center portfolio continues to grow with the expansion of the Jardín Plaza mall in Cali.

Third Quarter Results 2021 – Pei

Pei acquires new Sanitas medical center in Bogotá

Pei and Hada International, committed to the economic revitalization of the Atlantic

Pei acquires the Sanitas Versalles medical center in Cali

Pei acquires additional shares of 1.03% in Building C26

Pei acquires additional shares of 1.2% from the rental company in Our Monteria Shopping Center.

Pei expands its presence in Nuestro Montería Shopping Center to 54.5%

Pei will hold the controlling interest in Our Bogotá Shopping Center.

Pei held an Ordinary Investor Meeting for TEIS

Pei confirms its support for the expansion of the Jardín Plaza Cali shopping center through an Investment Framework Agreement.

Pei announces the acquisition of 26% of the commercial spaces in Phase IV of the El Tesoro Shopping Center in Medellin.

Pei acquires a stake of 27.9% in Strategik Business Park on the Ibagué-Espinal highway.

We have the involvement of 67% in Building Buró 26 | Pei

Pei will generate returns that are 4.5 times higher than the previous period.

Fourth Quarter Results 2020

Pei’s assets obtain ICONTEC’s ‘Biosafety Operations Certification’

Obtain the Biosafety Operations Certification | Pei

distributable cash flow Third Quarter 2020

Pei updates its program for issuing and placing credit-based financial instruments

Third Quarter Results 2020

Fiducoldex elected as the Legal Representative for TEIS Investors

Fiducoldex appointed as legal representative of TEIS investors

Pei held its first Investor General Meeting virtually.

Pei held its First Virtual Investors Ordinary Assembly

Distributable Cash Flow First Semester 2020

Pei’s Results – First Semester 2020

distributable cash flow First Semester 2020

Pei Asset Management presented its results for the first quarter of 2020 to Pei’s Investors

Pei Asset Management presented the results of 2020 to Pei Investors for the first quarter.

Pei Asset Management implements international sustainability standards

Pei completes the acquisition of a 50% stake in Jardín Plaza Cúcuta Shopping Center

Pei Asset Management implements international sustainability standards

Pei completes the acquisition of a 50% stake in the Jardín Plaza Cúcuta shopping center.

Pei Asset Management Presented The 2019 Results To Pei’s Investors

Pei Asset Management presented the results of 2019 to Pei Investors.

Pei expands its specialized assets category with an acquisition in the city of Cali

Distributable Cash Flow Second Semester 2019

Pei expands its specialized asset category with an acquisition in the city of Cali

distributable cash flow Second Semester 2019

Pei consolidates its 100% ownership of Plaza Central Shopping Center

Pei consolidates 100% ownership of the Plaza Central shopping center

Pei incorporates an iconic building in Bogotá to its portfolio

Pei adds iconic building in Bogotá to its portfolio