- Pei completes a partial stake in Atrio’s North Tower, the capital’s tallest building, with 46 floors and 5 basement levels.
- The asset has a leasable area of 63,341 m², of which Pei holds a 33.6% stake, corresponding to 21,987 m².
- With this transaction, the Pei real estate investment vehicle surpasses COP 6 trillion in asset value and more than one million square meters of leasable area.
Bogotá D.C., January 2020. Pei, the leading real estate investment vehicle in the country, managed by Pei Asset Management, formalized its stake in Atrio’s North Tower, the country’s new landmark building.
Bogotá’s new architectural icon has a total leasable area of 63,341 m², of which Pei acquired 21,987 m², a transaction that reaffirms the vehicle’s strategy of contributing to the city’s strengthening and urban development.
Atrio, located in the Centro Internacional (Avenida El Dorado – Calle 26 and Avenida Caracas), has a strategic location with excellent public transportation and mobility connections. Bancolombia will be the first entity to occupy this building, reflecting the profile of corporate users Pei expects to attract to the property.
The final investment value for the vehicle was COP 271,093 MM, achieving a 33.6% stake and expanding its corporate asset portfolio to 34 properties.
With the purchase of this property, Pei surpasses COP 6 trillion and contributes to Bogotá’s architectural growth, supporting the vehicle’s initiative to generate value in Colombia’s major cities.
“We consider Atrio a particularly attractive asset for its modern, comprehensive real estate offering, which seeks to reshape the center of Colombia’s capital, integrating corporate users with public space in a single location,” said Jairo Corrales, president of Pei Asset Management.
Atrio was designed by the firm Rogers Stirk Harbour and Partners, led by renowned architect Richard Rogers, who is responsible for some of the most important buildings worldwide in recent decades.
The asset was built as a mixed-use real estate development, featuring a set of high-rise buildings whose layout creates, at their base, a large 10,000 m² public space; 6,769 m² of retail area; and 56,572 m² of office space. Additionally, construction required 9,000 tons of steel, 95,000 m³ of concrete, and 10,000 tons of structural steel.
With this acquisition, Pei continues to diversify its real estate portfolio with top-tier assets, reaching a total of 144 assets in 30 municipalities and cities across the country, which together exceed one million square meters of leasable area.