- With an additional investment of COP 106 thousand million.
- Plaza Central Shopping Center has a lettable area of 75,000 square meters, 4 floors, and approximately 3,000 parking spaces.
Bogotá D.C., February 2019. Pei, Colombia’s leading real estate investment vehicle, managed by Pei Asset Management, confirmed Plaza Central Shopping Center’s total purchase.
Pei, which had already made an investment in the shopping center, announces today its acquisition of the remaining percentage, thus becoming the sole proprietor of the asset (100%).
Among the advantages of Pei being the shopping center’s sole owner, are that the shopping center’s administrative control and decision-making process on its commercial mix will be swifter once the commercial and operating strategies are implemented, for the benefit of the different audiences.
The transaction confirms the vehicle’s interest in pursuing long-term investments, derived from its understanding of the real estate market’s evolution and the identification of opportunities with appreciation potential –such as Plaza Central–, that contribute added values to the area.
This commercial complex features 75,000 square meters of leasable space and provides a range of commercial options, including 340 shops, 252 brands, and 60 high-end restaurants.
With this transaction, Pei intends the shopping centers it manages to become experience centers. Plaza Central’s success results from its mixed-use scheme, with commercial, gastronomic, entertainment, wellness, and health offerings that constitute its key differentiating trait.
Central Gourmet –the shopping center’s gastronomic promenade– has 11,000 m² and 30 brands from Europe, Asia, the United States, Peru, Argentina, Mexico, and Colombia, ranking number one in the city, according to the Gastronomic Offer’s First Satisfaction Study on Shopping Centers, Malls & Retail.
After three years of operation, Plaza Central has become a leading commercial center on the west side of Bogotá, with a 95% satisfaction rating from visitors and a visitor growth rate exceeding 10% in the past year.
“It is very important for us to be part of this project, as a reference of the shopping center’s sector in the country. Additionally, we want visitors to have an attractive proposal in connection with issues such as commercial mix, sustainability, and different service centers in one place”, stated Jairo Corrales, Pei Asset Management’s President.
Plaza Central currently holds a LEED Silver certification (Leadership in Energy and Environmental Design), which recognizes it as one of the world’s most sustainable buildings due to its environmentally friendly features.
Within these initiatives, Plaza Central has 6,022 m² of vegetation that does not require irrigation, as it takes place through rainwater dripping; also, through a rainwater collection system, the shopping center saves 40% in drinking water. These initiatives support Pei’s sustainability proposals as owner of the asset.