- Pei made a reality its partial interest in the North Tower of Atrio, the tallest building in the capital –with 46 floors and 5 basements.
- The asset has a leasable area of 63,341 m2, where Pei has a 33,6% interest, corresponding to 21,987 m².
- With this transaction, real estate investment vehicle Pei exceeds COP 6 billion in assets value and over one million square meters of leasable area.
Bogotá D.C., January 2020. Pei, the country’s leading real estate investment vehicle, managed by Pei Asset Management, formalized its interest in the North Tower of Atrio, the country’s capital new emblematic building.
Pei acquired 21,987 m² of this new architectural icon in Bogotá, whose total leasable area is63,341 m². This transaction reconfirms the vehicle’s strategy of contributing to the city’s urban development and strengthening.
Atrio, located at Centro Internacional (Avenida El Dorado – Calle 26 and Avenida Caracas), has a strategic location with excellent connections to public transport and mobility. Bancolombia will be the first entity occupying this building, promoting the corporate users’ profile that Pei hopes to attract to the property.
The vehicle’s final investment amounted to COP 271,093 MM, achieving a 33,6% interest, and increasing its corporate assets portfolio to 34.
With the purchase of this property, Pei exceeds COP 6 billion, contributing to Bogotá’s architectural growth, which supports the vehicle’s initiative to generate value in the main cities of Colombia.
“We deem Atrio a particularly attractive asset, for its modern and comprehensive real estate offer, which seeks to reconfigure the Colombian capital’s center, integrating corporate users with the public space in the same place”, stated Jairo Corrales, Pei Asset Management’s President.
Atrio was designed by Rogers Stirk Harbor and Partners, led by renowned architect Richard Rogers, who has been responsible in recent decades for some of the most important buildings worldwide.
The asset was built under a mixed-use real estate development scheme, which is why a set of tall buildings was proposed. These buildings’ layout creates at their feet, a 10,000 m² large public space, 6,769 m² to use as commercial areas, and 56,572 m² to use as office areas. Noteworthy, 9,000 tons of steel, 95,000 m3 of concrete, and 10,000 tons of structural steel were required.
With this acquisition, Pei continues to diversify its real estate assets portfolio through first-level properties ––reaching a total of 144 assets in 30 municipalities and cities throughout the country––, which exceed one million square meters of leasable area.