Bogotá, August 2025. During the second-quarter results conference, Pei, the leading real estate investment alternative in Colombia, presented its financial and operating performance. Total revenue reached COP 404,618 million, a 7.6% increase over the same period last year, driven by rent escalation, contract renewals, and the leasing of new spaces. In addition, a new issuance of equity securities was confirmed, valued between COP 300,000 million and COP 500,000 million. This transaction seeks to optimize the capital structure and reduce debt, in line with the business’s long-term strategy and portfolio strengthening.
Financial results.
During the year, higher revenue and lower operating expenses drove Net Operating Income (NOI) to COP 341,539 million, with an 84.4% margin, an 8.9% increase over the same period last year. EBITDA stood at COP 291,637 million, up 8.3%, with a 72.1% margin, reflecting the results of the portfolio’s efficiency strategies.
Pei also recorded a decrease in net financial expense of COP 39,086 million compared to the same period in 2024, closing the half-year at COP 165,160 million. This result is explained by the decline in indicators such as the IBR and inflation, as well as active management to optimize rates and restructure loans.
Operational and real estate indicators.
The portfolio’s occupancy rate stood at 92.8%, while contract renewals reached 97.6%. Notable transactions include the leasing of space in assets such as the building at Carrera 7 with Calle 77, Atrio, and Amadeus, in Bogotá — the latter with 1,280 m2 under the “metros a la 4” scheme.
Regarding energy-efficiency initiatives, Pei began operating a renewable energy system at the Nuestro Bogotá shopping center, with 710 solar panels expected to generate approximately 408,000 kWh per year, representing an estimated 56% savings on the energy bill during the first year.
Distributable Cash Flow.
For the second quarter of the year, Pei announced a Distributable Cash Flow (DCF) payment to investors of COP 55,012 million, equivalent to COP 1,285 per equity security, 45% higher than the amount paid in the same period of 2024.
Capital markets activity.
In August, Pei will carry out its twelfth issuance of equity securities, in an amount between COP 300,000 million and COP 500,000 million. The proceeds will be used to pay down debt, with the aim of strengthening the capital structure, reducing financial expense, and improving distributions to investors. With this issuance — which will include preferential rights for current investors and will allow new investors to become part of the portfolio — Pei reaffirms its commitment to building trust, generating long-term value, and actively managing its portfolio. The offering notice for the equity securities issuance will be published in the coming days.
About Pei (PEI CB Equity)
Pei is a real estate investment alternative structured and managed by Pei Asset Management for more than 18 years, a pioneer in Colombia’s capital markets with more than 7,100 investors. It has built a portfolio of high-specification, income-generating assets totaling more than 1.16 million m2 of leasable area, with a diversified base of nearly 1,500 tenants and a presence in 32 cities and municipalities across the country. The portfolio is valued at nearly 10 trillion pesos and includes four asset categories: corporate, commercial, logistics, hospitality, and specialized.