- 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 north-zone expansion has featured, since June 2021, brands such as H&M, Pull&Bear, Muebles y Accesorios, Zara Home, and Bodytech, complementing the asset’s retail mix.
Bogotá, November 2021. Pei, the leading real estate investment vehicle for Colombians, managed by Pei Asset Management, announced its participation in the expansion plan for the north zone of the Jardín Plaza Cali shopping center, with a 49% stake corresponding to a leasable area of 29,697 m². The investment in this transaction was COP 77,315 million.
“Jardín Plaza is a flagship project for Cali and one that is representative for Pei. We are pleased to bring this expansion to fruition, which complements the retail offering and will provide visitors with new stores and additional services,” said Jairo Corrales, president of Pei Asset Management.
This transaction is part of the growth strategy for the Jardín Plaza brand, which Pei has supported since 2015, when it closed the acquisition of a 49% stake in the asset for its portfolio. This project in Cali has a positive commercial impact on the city and its residents, as it is a space offering a multi-category dynamic, making it a comprehensive experience center that seeks to meet all visitors’ needs.
The new expansion in the north zone of Jardín Plaza Cali — the city’s largest and most modern shopping center, and the sixth largest in Latin America — features brands such as H&M, Pull&Bear, Muebles y Accesorios, Zara Home, and Bodytech, bringing together 67 new retail units where visitors will find well-known fashion brands, design, decor, and sporting goods stores.
The asset, located on the Anillo Vial Oriental, was the first in the region to receive Biosafe Operations certification from Icontec in 2020, which guarantees best practices for preventing risks and ensuring people’s safety amid the health emergency.
Pei’s investments in Cali and Valle del Cauca
In recent years, Pei has strengthened its presence in Cali, the second Colombian city with the largest concentration of portfolio assets.
Pei currently has a total of 20 assets in this region of the country, distributed as follows: commercial (9), corporate (2), specialized (3), and logistics (6). Cali and Valle del Cauca are important drivers of the Colombian economy and one of the country’s main logistics and industrial hubs. Pei therefore trusts that all these competitive advantages will contribute to the region’s development, progress, and reactivation.
Pei Asset Management, manager of real estate investment vehicles
Pei Asset Management is a company specialized in the structuring and comprehensive management of real estate investment vehicles in Colombia. It has held the highest Portfolio Management Effectiveness rating, G-aaa, awarded by BRC Standard & Poor´s S&P Global since 2009.
For 14 years, Pei Asset Management has been characterized by its contribution to society’s well-being, democratizing investment opportunities, creating physical spaces that benefit the community, and driving the growth of its partners.
Its expert team works daily to build and maintain long-term relationships with investors, tenants, and other stakeholders.
Pei, the leading real estate investment vehicle in Colombia
Pei Asset Management currently manages the real estate asset portfolio of Pei, the leading real estate investment vehicle in Colombia, valued at COP 7.55 trillion. It comprises 148 properties representing close to 1.1 million m2 of leasable area, located in 30 cities and municipalities across the country.
The diversified portfolio, notable for its variety of asset types, geographic locations, and tenants, includes the following categories: corporate, logistics and industrial, commercial, specialized, and hospitality.
Pei offers a solid investment alternative with attractive returns and high liquidity, prioritizing the building of long-term relationships with its more than 4,600 investors and more than 2,000 tenants.