Bogotá, February 2021 Pei, the leading real estate investment vehicle in Colombia, will make the Distributable Cash Flow (DCF) payment for the fourth quarter of 2020 on February 12.
The returns delivered will amount to COP 133,119 per security, equivalent to a total absolute value of COP 57,430 MM. This represents a 4.5-fold increase compared to the Distributable Cash Flow accrued during the third quarter of 2020. The amount each investor receives is subject to applicable withholdings based on their tax status.
This is the result of management by the Real Estate Manager during 2020, focused on promoting revenue stability through contract retention, offering commercial relief to tenants while prioritizing the long term, and ongoing receivables management. Much of this management’s impact was reflected starting in the second half of the year, with collections exceeding 100% of amounts billed.
Other important reasons for today’s result include the country’s economic reactivation, which began in the second half of the year, improved dynamics in some sectors, and initiatives such as the third VAT-free day, Black Week, and the Christmas and year-end season, which were especially relevant for the commercial sector thanks to end-consumer sales reaching levels close to those seen before the pandemic.
This result also confirms the advantages of having a diversified property portfolio to respond to a situation such as the health emergency, which has had a differentiated impact across the various categories, industries, and geographies where the vehicle’s assets are present.