Pei expands its specialized assets category with an acquisition in the city of Cali

• Pei confirms the acquisition of Centro Médico Sanitas Ciudad Jardín in the city of Cali, Valle del Cauca, an asset “Built-to-Suit” for the lessee.
• The asset, worth COP $13,574 MM has a leasable area of ​​2,582 m2.
• With this property’s acquisition, Pei completes four assets where Grupo Sanitas is the tenant: two in Cali and two in Bogotá.

Bogotá D.C., March 2020. To continue strengthening its diversification strategy, Pei –Colombia’s leading real estate investment vehicle, managed by Pei Asset Management–, confirmed the acquisition of a new real estate asset in the health sector. The asset is Centro Médico Sanitas Ciudad Jardín, the second property with these characteristics that Pei acquires in the capital of Valle del Cauca.

The asset, built by firms Castañeda Vacca & Cia. and Construandes, has a leasable area of ​​2,582 m2. Prepaid Health company CliniSanitas started the operation of its urgent care services and medical offices at the end of 2019, after nearly 13 months of construction under a “Built-to-Suit” scheme.

Pei’s acquisition of the property was worth COP $13,574 MM. The property is the subject matter of a long-term agreement with Grupo Sanitas. Grupo Sanitas has already lent two of the portfolio’s assets in the city of Cali, and one in Bogotá.

With this acquisition, Pei ratifies its long-term commitment to its tenants, within a category with potential for expansion at the national level.

“For Pei, widening the real estate category in the health sector is a fundamental part of its real estate innovation strategy. On the one hand, it confirms Sanitas Group’s trust as a tenant and a long-term ally. It also responds to the vehicle’s goal of continuing to diversify its portfolio per type of assets, and per economic sectors and country regions”, stated Jairo Corrales, Pei Asset Management’s President.

With this acquisition, Pei’s diversified portfolio completes a total of 145 assets in 30 cities in Colombia, representing more than one million square meters of leasable area, appraised at over COP $6.5 billion.