Bogotá, March 2026. Pei announced its partial divestment from the Plaza Central shopping center by selling its stake in 51% of assets to the international group Cencosud, through its subsidiary Cenco Malls, while retaining a 49% ownership stake in the property. The value of the transaction, corresponding to that percentage of 51%, is COP 459.000 million.… and marks the start of a new phase for the property, in accordance with the active management and optimization of the vehicle’s portfolio.
For almost ten years, Plaza Central has become one of the most important shopping centers in its area of influence within the Colombian capital. Greater traffic in the countryThis divestment process strengthened its commercial strategy, market position, and operational stability. By realizing some of the value generated within the portfolio, this process also created opportunities for a new growth phase through the integration of a specialist partner in the retail sector.
The new investor is Cenco MallsPart of the Cencosud group, one of the leading developers and operators of shopping centers in South America, with a presence in Chile, Peru, and Colombia, with 41 shopping malls and 1.450.560 m² of GLA (gross leasable area). Its experience in operating and developing commercial assets will complement the positioning that Plaza Central has built over the past years, adding new capabilities to continue strengthening its commercial offering.
“The transaction reflects Pei Asset Management’s strategy of permanent real estate portfolio management, validating the value of the company’s assets through a market transaction. Additionally, the divestment impacts the fund’s capital structure, strengthens its cash flow generation, and expands its ability to capture profitable growth opportunities in the Colombian real estate market,” said Jairo Corrales, President of Pei Asset Management.
Plaza Central will continue to maintain its operational and service standards, welcoming the over 1.340.000 visitors who attend the shopping center each month.
The completion of the transaction is subject to the usual conditions for this type of transaction, as well as the applicable procedures with the competition authority.
About Pei (PEI CB Equity)
Pei is a structured and managed real estate investment alternative offered by Pei Asset Management for over 19 years, pioneering in the Colombian capital markets with more than 10,000 investors. It has consolidated a portfolio of income-generating assets with high specifications, covering more than 1.14 million square meters of leasable area, with a diversified base of approximately 1,500 tenants and presence in 32 cities and municipalities throughout the country. The portfolio is valued at over 10 trillion pesos and includes four asset categories: corporate, commercial, logistics, and specialized.