- Pei placed its Second Ordinary Bond Issuance for COP 500,000 MM, with demand of COP 644,950 MM, exceeding the offered amount by 1.61 times.
- Our Cartago Shopping Center has been added to the commercial property portfolio. The acquisition of 58% of Our Cartago Shopping Center corresponds to an leasable area square meter 10,190 area.
- In October, Pei launched an updated version of its website.
Bogotá, November 2019. Pei Asset Management, the real estate manager for Pei, held the fourth conference of the year, where they presented investors with the results of the third quarter of 2019 related to the investment vehicle’s management.
Leading real estate agency in Colombia.
The presentation was led by Jairo Corrales, President of Pei Asset Management, and Jimena Maya, Manager of investor relations, who presented the audience with a detailed report on the management indicators for the real estate portfolio and the financial portfolio.
Among other topics discussed, the second issuance of ordinary bonds, which took place on November 7, 2019, was highlighted. This issuance brought the total amount of ordinary bonds placed to 1 trillion pesos. The issuance allowed for an extension of debt maturities, increased exposure to fixed rates, and reduced the risk of debt refinancing.
During the third quarter, two acquisitions were made: first, the 11 floor in the One Plaza building in Medellín, with a leasable area of 965 m², for a value of COP 6,664 million, which allowed us to expand the available space for current tenants looking to grow their operations within the property; and second, the acquisition of 58% of the Nuestro Cartago shopping center, with a leasable area of 10,190 m², for a value of COP 50,324 MM.
Our shopping center is currently the largest in the Northern Valley, and its inclusion in Pei’s portfolio strengthens the company’s geographic diversification strategy.
During the call, it was also emphasized that the Pei website has been updated, a change that aims to provide investors, tenants, and the general public with a more comprehensive tool that aligns with international best practices for information disclosure.
Furthermore, it is worth noting that the third quarter of 2019 ended with COP 5.9 trillion in assets under management and a leasable area of 971 thousand m2 represented in 2,052 lease agreements.
Within the management of the real estate portfolio, lease agreements were renewed for approximately 50,000 square meters, and an additional 17,000 square meters were leased in commercial and logistics categories, primarily in the city of Bogotá and surrounding areas.
Furthermore, it was observed that in 2019, the cash flow delivered to investors amounted to COP 218,000 million, resulting in an annual dividend yield of 5.33%.
Regarding the liquidity of the TEIS, during the period 2019, the daily trading volume was COP 3,302 million.
Finally, the call ended with a question-and-answer session for investors, which was facilitated by the Pei Asset Management team.