Bogotá, March 2025.
Pei, the leading real estate investment vehicle in Colombia, held its annual investor meeting (2025), where financial and real estate results for 2024 were presented, as well as progress on the strategy that includes portfolio optimization, sustainable operations, and value creation for tenants.
In 2024, Pei earned income of COP 772,712 milloneswith an increase in 9.8% compared to the previous year. The operational efficiency of the portfolio was reflected in a NOI margin of 83% and a EBITDA margin of 71%while occupancy closed at 94.48% and contract renewals exceeded the 96%reaffirmed tenant confidence, while retaining 197,233 m² in existing contracts and were placed 22,502 m² in new leases. As part of the portfolio optimization strategy, three assets were divested for approximately COP 90,000 millones.
In financial terms, Pei reduced its Debt cost increased by 359 basis points, moving on to 14.08% in 2023 to 10.49% in 2024while the Loan to Value (LTV) decreased to 33.29% due to asset appreciation. In the capital market, the equity security of Pei increased its price by 8.8%closing at COP 69,980and recorded a Average daily trading volume (ADTV) of COP 2,956 million, solidifying its position as the seventh most traded stock on the Colombian Stock Exchange.
Strategic priorities for 2025
During the meeting, key initiatives were announced to further strengthen portfolio operations and adapt to market dynamics:
- Securitization to reduce debt: Issuing equity securities for an amount between COP 300,000 and 500,000 millionwith the aim of reducing debt and strengthening the financial structure of the company.
- Restructuring of key assets: Progress on an asset «Calle 90 Tower» in Bogota and structuring the project within the asset “Carvajal”optimizing its value through renovation and potential of leasable area.
- Hada asset expansion: Development of the phases 6 and 8supporting the tenant’s strategic growth within this asset.