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

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March 16, 2020

Pei confirms the acquisition of Centro Médico Sanitas Ciudad Jardín in the city of Cali, Valle del Cauca, which is a property specifically designed to meet the needs of the tenant.
The property, valued at COP $13,574 million, has a rentable area of 2,582 square meters.
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 further strengthen its diversification strategy, Pei – Colombia’s leading real estate investment vehicle, managed by Pei Asset Management –, has confirmed the acquisition of a new real estate asset in the healthcare 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 lettable area of 2,582 m2. The CliniSanitas health company began operating 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 reaffirms its long-term commitment to its tenants, within a category with potential for expansion across the country.

“For Pei, expanding the real estate category within the healthcare sector is a fundamental part of its real estate innovation strategy. This confirms Sanitas Group’s trust as a tenant and a long-term partner. It also aligns with the company’s goal of continuing to diversify its portfolio by asset type, across economic sectors and country regions,” stated Jairo Corrales, President of Pei Asset Management.

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, valued at over COP $6.5 billion.

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

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