- Pei acquired 82% of the North Tower of this real estate development, which has a leasable area of 21,316 m2.
- The amount invested was COP 141,802 MM.
- The business center’s north tower was custom-designed and built to serve as Tigo’s corporate headquarters.
- Rivana Business Park is a corporate and services business center designed to be a landmark for the city of Medellín for its location, architecture, scale, and urban-planning specifications.
that Accor, under the Sofitel brand.
Bogotá, December 2021. Pei, the leading real estate investment vehicle for Colombians, managed by Pei Asset Management, formalized its stake in Rivana Business Park North Tower, an asset located in the city of Medellín.
The North Tower of this complex has a leasable area of 21,316 m², intended for corporate and commercial use. Of the total leasable area, Pei holds an 82% stake, with an investment of COP 141,802 MM.
This asset was developed under the BTS (Built to Suit) model for Tigo, with which a long-term lease agreement was signed for the asset.
In addition to the leased area, it was agreed with the tenant to include value-added services such as fit-outs and furniture, part of Pei Asset Management’s new offering aimed at strengthening its support for tenants to meet all their needs.
“In this project, we activated our potential to be a strategic real estate partner for a company like Tigo, addressing its specific needs for both physical space and value-added services. The latter is part of the innovations we have incorporated into our business model to strategically meet market requirements,” added Jairo Corrales, president of Pei Asset Management.
The North Tower of Rivana Business Park has 19 floors, of which 19,410 m² are dedicated to corporate office use. On the ground floor, 1,906 m² of retail space is available.
The asset, one of the tallest in the area, also features a terrace overlooking the Medellín River, a space for building users’ well-being with recreational areas.
With this acquisition, Pei now has 150 assets across its various categories, totaling around 1.2 million m².
Rivana Business Park, a new real estate landmark in Medellín
Rivana Business Park is a corporate and services business center, comprising several development phases that will include offices, healthcare, retail, and hospitality as its main uses. In terms of entertainment and public space, the complex offers the city the Plazoleta de los Colores as a point of connection and
urban transformation.
Rivana is strategically located next to the Ciudad del Río development on Avenida Regional, an area that has become a landmark for the city due to the convergence of real estate developments and urban plans that give it excellent future growth prospects. This corporate real estate corridor helps address and integrate the economic, cultural, and social dynamics of
the residents and visitors of Antioquia’s capital.
Rivana Business Park is designed to achieve LEED Gold Certification, as it meets various energy-efficiency processes and is intended to comply with good sustainability practices.
“At Pei, we are proud to have a stake in this development.
This is a space that improves the quality of life for the people of Medellín and actively contributes to the city’s development. In addition, this asset will join Pei’s portfolio of LEED-certified properties, reaffirming our commitment to sustainability.”, concludes Jairo Corrales, president of Pei Asset Management.
“We want Rivana Business Park to be a project for everyone, a
meeting point centered on public space, a landmark in the city that brings together all people, without distinction. Having top-tier institutional investors like Pei and brands that matter to the city is essential to achieving that goal,” commented Rafael Londoño, president of QBO.
Pei Asset Management, manager of real estate investment vehicles
Pei Asset Management is a company specialized in the structuring and comprehensive management of investment vehicles in Colombia. It has held the highest Portfolio Management Effectiveness rating, G-aaa, awarded by BRC Standard & Poor’s S&P Global since 2009.
For 14 years, Pei Asset Management has been characterized by its contribution to society’s well-being, democratizing investment opportunities, creating physical spaces that benefit the community, and driving the growth of its partners.
Its expert team works daily to build and maintain long-term relationships with investors, tenants, and other stakeholders.
Pei, the leading real estate investment vehicle for Colombians
Pei Asset Management currently manages the real estate asset portfolio of Pei, the leading real estate investment vehicle for Colombians, valued at COP 7.5 trillion; the portfolio comprises
150 properties representing more than 1.1 million m2 of leasable area, located in 30 cities and municipalities across the country.
The diversified vehicle, notable for its variety of asset types, geographic locations, and tenants, includes the following categories: corporate, logistics and industrial, commercial, specialized, and hospitality.
Pei offers a solid, liquid investment alternative with attractive returns, prioritizing the building of long-term relationships with its more than 4,600 investors and 2,000 tenants.