- Pei placed the Second Issuance of Pei’s Ordinary Bonds, for COP 500,000MM, with bids for COP 644,950MM, which exceeded 1,61 times the amount offered.
- Nuestro Cartago Shopping Center was incorporated to the commercial assets’ portfolio. The acquisition of the 58% of Nuestro Cartago Shopping Center corresponds to a leasable area of 10,190 m2.
- In October, Pei launched a revamped version of its website.
Bogota, November 2019 PEI Asset Management, Pei’s real estate manager, held the fourth teleconference of the year with the investors, on the third quarter of 2019’s management results of the leading real estate investment vehicle in Colombia.
Jairo Corrales, PEI Asset Management’s President, and Jimena Maya, PEI’s Investors Relations Manager, led the teleconference and presented to the audience a detailed report on both the real estate portfolio’s management metrics and the financial portfolio management’s metrics.
Among the several topics dealt with, was the Second Issue of Ordinary Bonds, which took place on November 7, 2019. With this issue, Pei completes a total of 1 billion pesos in ordinary bonds placed in the market. The issue allowed the debt contracts’ maturity and the fixed rate’s exposure to increase, as well as the debt’s refinancing risk to reduce.
Two acquisitions took place during the third quarter: The first one, the 11th floor of One Plaza building in Medellin –with a leasable area of 965 m²–, for an amount of COP 6,664 million. This acquisition allowed an expansion of the areas offered to the current tenants seeking to grow their operation in the asset. The second one, the acquisition of 58% of the Nuestro Cartago Shopping Center –with a leasable area of 10,190 m²– for an amount of COP 50,324 MM.
Currently, Nuestro Cartago is the largest shopping center in the North of Valle, and its incorporation in Pei’s portfolio strengthens the vehicle’s geographic diversification strategy.
During the teleconference, Pei’s website update was also highlighted. The website’s revamping seeks to provide investors, tenants. and the general public a more complete tool, aligned with good international information disclosure practices.
Calle 80 No. 11 – 42 Torre Sur Piso 10. Bogotá, Colombia. Tel. (571) 744 89 99
Also, it must be noted that the third quarter of 2019 ended with COP 5,9 billion in assets under management and a leasable area of 971 thousand m², represented in 2,052 lease agreements.
Within the portfolio’s real estate management, lease agreements for around 50,000 m² were renewed, and another 17,000 m² were leased in the commercial and logistics categories, mostly in the city of Bogotá and its neighboring areas.
The cash flow delivered to investors in 2019 reached COP 218,000 million, with the dividend yield for the year amounting to 5,33%.
In connection with the TEIS’ liquidity, in 2019 the daily volume traded was COP 3,302 million.
The teleconference ended with a questions & answers session with the investors, attended by Pei Asset Management’s team.