{"id":15686,"date":"2021-02-13T10:11:19","date_gmt":"2021-02-13T15:11:19","guid":{"rendered":"https:\/\/pei.com.co\/resultados-cuarto-trimestre-2020\/"},"modified":"2026-07-29T18:37:37","modified_gmt":"2026-07-29T23:37:37","slug":"fourth-quarter-results-2020","status":"publish","type":"post","link":"https:\/\/pei.com.co\/en\/fourth-quarter-results-2020\/","title":{"rendered":"Fourth Quarter Results 2020"},"content":{"rendered":"<p><strong>Flexibility and adaptability are key to a cautious optimism.<\/strong><\/p>\n<ul>\n<li><em>Pei&#8217;s portfolio reached COP 6.9 trillion, with over 1,000,000 square meters of leasable area and 146 assets. <\/em><\/li>\n<li><em>During the period, more than 106 thousand meters were retained.<sup>2<\/sup> Locating the retention indicator in 90%. <\/em><\/li>\n<li><em>The physical vacancy rate at year-end was 8.8% and the economic vacancy rate was 8.6%.<\/em><\/li>\n<li><em>The portfolio rotation closed the year at 10 days, recording a positive trend. <\/em><\/li>\n<li><em>The next payment of distributable cash flow for the fourth quarter of 2020, in the amount of COP 133,119 per title, will be made on February 12.<\/em><\/li>\n<li><em>The content credit title program was updated in 2020 to expand its issuance scope to include green bonds and commercial papers.<\/em><\/li>\n<\/ul>\n<p><strong>\u00a0<\/strong><strong>Bogota, February 2021<\/strong> Pei Asset Management, the real estate management company of Pei, held the first teleconference for Pei Investors regarding 2021, where the most relevant facts and indicators were presented in an atypical year like 2020.<\/p>\n<p>The health emergency associated with COVID-19 has imposed a change in the dynamics of different economic sectors. The industry faced challenges that led to the development of flexible alternatives to continue generating value for tenants and investors.<\/p>\n<p>This allowed for the positive closure of 2020, with a portfolio of COP 6.9 trillion assets under management represented in more than 1,000,000 square meters of rentable space and 146 assets, as well as 1,900 lease agreements and the confidence of 4,557 investors.<\/p>\n<p>In order to prioritize the long term and solidify Pei Asset Management&#8217;s position as a real estate ally for tenants, consistent relief of COP 40,219 million in discounts and COP 22,554 million in deferrals were provided throughout the year.<\/p>\n<p>At the end of the year, the portfolio occupancy showed good performance, with positive retention rates and controlled vacancy below two digits. Over the period, more than 106 thousand m2 were retained, resulting in a retention rate of 90%, and additionally, 32,230 m2 of available space were leased. In terms of portfolio vacancy, the physical vacancy was 8.8% and the economic vacancy was 8.6%.<\/p>\n<p>In the second half of the year, the economy experienced a different dynamic that allowed for expansion in real estate operations and a positive impact on traffic trends across all categories. Logistics and industrial assets were the first to benefit after normalizing segment operating levels, with traffic stabilizing at 86%. Commercial assets, meanwhile, saw traffic reach 70% from November onwards, with purchase volumes close to those recorded during the peak holiday season of 2019.<\/p>\n<p>Furthermore, it is worth noting that to date, Pei Asset Management has supported and facilitated the acquisition of the Biosecurity Operations Seal, awarded by the Colombian Institute for Technical Standards and Certification (Icontec), for 19 assets in Pei&#8217;s portfolio, through the necessary investments to ensure compliance with all protocols contained in Resolution 666 of April 2020.<\/p>\n<p>In an effort to optimize financial management during the year, a debt restructuring was carried out, which allowed for the postponement of short-term maturities. The period ended with a debt-to-asset ratio of 29% and a debt cost of 4.72%.<\/p>\n<p>The detailed management of the portfolio throughout the year allowed for a net turnover of 10 days, reflecting a significant improvement in this indicator compared to levels recorded during the second quarter of the year.<\/p>\n<p>Regarding the liquidity indicators of the equity securities, the average daily trading volume for TEIS-listed securities was COP 1,949 million, and the returns for 5 years and 12 months were 10.3% and 5.8% respectively. <em>dividend yield<\/em> de 2020 was of 4.77%.<\/p>\n<p><strong>\u00a0<\/strong><\/p>\n<p><strong>WORK SCHEDULE 2021<\/strong><\/p>\n<p>During the conference call, the following relevant activities for the year were highlighted:<\/p>\n<ul>\n<li><em>Payment distributable cash flow:<\/em> On Friday, February 12, 12 made the payment of distributable cash flow corresponding to the fourth quarter of 2020. The returns delivered will be worth COP 133,119 per title, which amounts to a total value of COP 57,430 MM. This represents an increase of 4.5 times compared to distributable cash flow during the third quarter of 2020.<\/li>\n<li><em>Activity in the capital markets:<\/em> The vehicle continues to prepare for migration to the fixed income trading platform according to the deadlines set by the BVC, which currently has a deadline of April 12, 2021.<\/li>\n<\/ul>\n<ul>\n<li><em>Issuance on the stock market<\/em><em>\u200b<\/em>In addition to the placement agents, market conditions will be evaluated to capitalize on potential opportunities related to the issuance of equity securities or debt securities. However, the vehicle has sufficient borrowing capacity to meet its obligations for acquiring development assets.<\/li>\n<\/ul>\n<ul>\n<li><em>Ordinary Investor Meeting:<\/em> The organization of this space, in a virtual format, is being advanced, and it is expected to take place during the month of March.<\/li>\n<\/ul>\n","protected":false},"excerpt":{"rendered":"<p>Flexibility and adaptability are key to prudent optimism. Pei&#8217;s portfolio reached COP 6.9 trillion, with more than 1,000,000 square meters of rentable space and 146 assets. During the period, more than 106 thousand m2 were retained, placing the retention indicator at 90%. Physical vacancy at year-end was [\u2026]<\/p>\n","protected":false},"author":4,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"inline_featured_image":false,"footnotes":""},"categories":[1],"tags":[],"class_list":["post-15686","post","type-post","status-publish","format-standard","hentry","category-uncategorized"],"acf":{"tiempo_de_lectura":"4","unidad_de_tiempo":"mins"},"_links":{"self":[{"href":"https:\/\/pei.com.co\/en\/wp-json\/wp\/v2\/posts\/15686","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/pei.com.co\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/pei.com.co\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/pei.com.co\/en\/wp-json\/wp\/v2\/users\/4"}],"replies":[{"embeddable":true,"href":"https:\/\/pei.com.co\/en\/wp-json\/wp\/v2\/comments?post=15686"}],"version-history":[{"count":2,"href":"https:\/\/pei.com.co\/en\/wp-json\/wp\/v2\/posts\/15686\/revisions"}],"predecessor-version":[{"id":15944,"href":"https:\/\/pei.com.co\/en\/wp-json\/wp\/v2\/posts\/15686\/revisions\/15944"}],"wp:attachment":[{"href":"https:\/\/pei.com.co\/en\/wp-json\/wp\/v2\/media?parent=15686"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/pei.com.co\/en\/wp-json\/wp\/v2\/categories?post=15686"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/pei.com.co\/en\/wp-json\/wp\/v2\/tags?post=15686"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}