CORPORATE PRESENTATION - Pei · 2021. 4. 1. · Jairo Alberto Corrales 1 workers 2 workers 3...
Transcript of CORPORATE PRESENTATION - Pei · 2021. 4. 1. · Jairo Alberto Corrales 1 workers 2 workers 3...
SEPTEMBER 2020
CORPORATE PRESENTATION
Investment Highlights
Assets
Business Snapshot
Table of contents
Colombian Real Estate Market
Vehicle structure and corporate governance
BUSINESS
SNAPSHOT
ONE PLAZA – MEDELLÍN
1
43%
25%
18%
11%3%
52%
12%
11%
5%4%
16%
Pei at a glance
Diversification by asset type
Diversification by city
1.76USD Bn
AUM1
11,231,717
ft²
GLA2
146Properties
30 92%Average occupancy
rate
6.3Years
Average lease
term
1,192Tenants
1,844Contracts under
lease
92%Tenants retention
rate
1.29USD Bn
Program´s
authorized amount
i-AAAApril-2020
BRC S&P
4,507Equity investors
0.57USD MM
ADTV YTD3
IPC+0.9%Portfolio appraisal 6
IPC+8%Profitability 4
4.9%Average dividend
Yield 5
431,422
Securities
outstanding
1.19USD Bn
Equity value
1 Assets under management2 Gross Leasable Area3 ADTV= Average Daily Trading Volume4 Calculated for periods greater than 5 years5 Calculated as the average of the last 3 years of the paid dividend yield6 Calculated as the average of the last 5 years* Spot figures converted using a spot FX rate of 3,879
Cities in Colombia
REAL ESTATE PORTFOLIO SECURITY OUTSTANDING- TEIS
4
Essential
establishments
Others
Logistics and
industrial
Retail
Office
Medellín
Tenjo
Barranquilla
Cali
Bogotá
Otros
%Income LTM
*LTM ( Last Twelve Months)
¨YTD (Year to day)
7.4
4.2
7.8
6.2
%Income LTM
VEHICLE STRUCTURE
AND CORPORATE
GOVERNANCE
ONE PLAZA – MEDELLÍN
2
Strong corporate governance6
*Appointed by the investor's assembly on 09/29/2020
CREDITSBAN K S BON D S
i-AA+3Bondholder’s legal
representative
Ordinary bonds
i-AAA2
Equity
Securities
PLAC EMENT AGEN T
INVESTOR
Pension Funds
Other Legal Entities
Retail Investors
Insurance Companies
Other Institutional EntitiesSELLERS
TENANTS
REAL ESTATE
Revenues derived by the
economic use of properties
Real state assets trade
ASSET MANAGER
LEGAL ADVISOR
G-aaa1
ADVISORY COMMITTEE
Independent
members
Investor’s legal
representative*Asset Manager
TRUST AGENT
R EGU LATORY EN TITIES
1. Portfolio Management Efficiency Qualification 2. Participative Securities Qualification 3. Credit Securities Qualification
Advisory Committee
INDEPENDENT MEMBERS
INVESTOR’S LEGAL REPRESENTATIVE*
MEMBERS OF THE REAL ESTATE MANAGER
SOL BEATRÍZ ARANGO
Production Engineer from Eafit University and specialist in Finance. She is thecurrent President of Servicios Nutresa S.A.S., Vicepresident for Sustainable
Development of Grupo Nutresa, and General Director of Fundación Nutresa.She is a member of Protección S.A. and Crystal S.A.’s Boards of Directors,
among others.
JULIO MANUEL AYERBE
Economist from Universidad de Los Andes. He was president of OrganizationCorona S.A., is currently a partner at law firm Ayerbe Abogados, and a member
of the Boards of Directors of Organización Corona S.A., Corona Industrial S.A.S., Homecenter de Colombia S.A., and Banco Colpatria & Mercantil
Colpatria.
MARÍA VICTORIA RIAÑO
Business Administrator, graduated from the Javeriana University. He hasan MBA from the Universidad de los Andes. He currently participates in
the Boards of Directors of the Bolívar Group, the Juanfe Foundation and30% Club, an initiative that ensures gender diversity in the Boards of
Directors. He was part of other boards such as Invercolsa, the ColombianPetroleum Association, Colgas and Terpel Antioquia.
ROBERTO HOLGUÍN
Economist from Georgetown University, specialist in Finance. Member of the Board of Directors of Banco Davivienda,
Constructora Bolívar, Grupo Energía de Bogotá GEB, Vicepresident
of the Board of Universidad Jorge Tadeo Lozano and member ofGrupo Bolívar’s investment committee.
CARLOS ANGULO LADISH
As a partner of Inversiones y Estrategias Coporativas he has participated in transactions thatsurpass 1.5 Billion dollars. Advising various companies in the Andes region in mergers and
acquisitions, as well as the search for new strategic partnerships. He was part of thefounding team of Terranum group, a real estate holding company, and today is a member of
Pei’s Advisory Committee. He worked for 8 years at Goldman, Sachs & Co. in New York.
JAIRO ALBERTO CORRALES
President of PEI Asset Management (formerly Terranum Inversión) since 2009.He structured the acquisition of over 500,000 m2 in different real estate
categories such as commercial, corporate, logistics, and specialized uses. Hewas involved, among others, in the structuring of Isagen Corporate
Headquarters in Medellín, Plaza Central Shopping Center, and Atrio Tower.
ANA MARÍA BERNAL RUEDA
Ana María has been involved in several financial sector transactions and with theprivate equity fund industry. Her experience focuses on financial and corporate law.
She worked at the Financial Superintendency of Colombia, served as In-house LegalCounsel for Holcim, and lawyer in the Capital Markets, Banking & Finance, and M&A
areas of law firms Philippi, Prietocarrizosa, Ferrero DU & Uría and Dentons Cárdenas& Cárdenas.
CARLOS FRADIQUE-MÉNDEZ
Partner of Brigard Urrutia, with over 25 years of experience advising anumber of companies on Capital Markets, Banking and Finance,
Foreign Investments, Derivatives and Structured Products, as well as inCustoms and Foreign Trade, and Taxes..
7
*Appointed by the investor's assembly on 09/29/2020
8
ELEMENTO- BOGOTÁ
I N V E S T M E N T
H I G H L I G H T S
3
Expert and professional team
9
Audit Comittee
Number of workers
90
Chief Financial Officer
Andrés Felipe Ruiz
4 directors
14 workers
4 directors
8 workers2 workers
Dirección de
Gestión Humana
4 workers
5 directors
28 workers
Chief Executive Officer
Jairo Alberto Corrales
1 workers 2 workers3 directors
5 workers
EXPERIENCE
- More than 50 years of experience in the real-state and
investment sector.
- Strong track records identifying and executing investments.
- Wide experience in the effective portfolio management with
retail, logistics, office and specialized assets.
- Pei Asset Management team is completely committed to the Pei
management.
- The Administrator and members team compensation depend of the
portfolio growth, performance, budgetary implementation,
diversification and occupancy rate, among others.
INTEREST ARRANGEMENT
Internal auditing
Manager/
Compliance officer
Investor Relationship
Manager
Jimena Maya
Investment
Manager
Luisa Gonzalez
Sales Manager
Alejandro Alzate
New Business and
Strategy Manager
Maria Alejandra Cardozo
Asset
Management
Manager
Iván Darío Parra
Legal and Corporative
Issues Manager
Ana María Bernal
ACCESS DATA
- The experience, brokers real state relationship and
the extensive network of strategic relations, allows to
get more opportunities in the asset acquisition and
potential tenants.
693
582
304
52 126
Cash and others assets
Others
Logistcs and industrial
Office
Retail
75 130 209 218 250 265
338 437 479
742 842
967 9821,043
2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017 2018 2019 sep-20
1. GAV: Gross Asset Value2. GLA: Gross Leasable Area3. Includes 2 education assets and 2 medical assets
4. Include cash, investments, accounts receivable, PP&E, and prepaid expenses
5 . Spot figures converted using a spot FX rate of 3,879
Portfolio
Portfolio GAV1 evolution (2007 – 2020 YTD)
Portfolio GLA2 evolution (2007 – 2020 YTD)
GAV (USD MM) USD 1.76 Bn (5)
GLA (ft2)
Office
Retail
Logistic and industrial
Others (3)
USD 1.76 Bn (5)
Thousands m2
Cash and Other Assets(4)Logistic and industrialOffice Retail Other Real Estate Assets(3)
COP thousands of millions
10
Logistic and industrialOffice Retail Other Real Estate Assets(3)
(3)
(4)
11,231,717 ft²
268 323 534 590 817 947 1,280 1,598 1,998
3,597
4,585 5,435
6,277 6,810
3,017,222
3,563,417
4,258,691
392,387
11,231,717 ft²
Equity investors
262 285531
556569
763976
1,2151,547
2,151
3,504 3,646
4,630 4,629
2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017 2018 2019 sep-20
24 31297 416 386 537
763
1,179
1,6471,854
3,317
3,475
4,4534,507
0
700
1,400
2,100
2,800
3,500
4,200
4,900
2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017 2018 2019 sep-20
Investor composition (by total invested amount)As of Sep 30, 2020
Investor base breakdown (by number of investors)As of Sep 30, 2020
Number of investors2007-2020 YTD
Equity2007-2020 YTD
1. All figures converted using spot COP/USD FX rate of 3,8792. Corresponds to following pension fund portfolios: Porvenir (5), Protección (6), Colfondos (5), Skandia (7) and voluntary pensiones of Alianza (1), Allianz(1) , Fidudavivienda (1) and BTG Pactual (1)3. Títulos Estrategias Inmobiliarias: Pei security listed in colombian stock exchange – BVC
#
Pension
Funds2
Other
Institutional EntitiesRetail
Investors
Other Legal
Entities
Insurance
Companies
431,422
TEIS (3)
4,507Investors
8 9 30 798 3,662
COP thousands of millions
USD 1.19 Bn
Pension Funds
Insurance Companies
Other Legal Entities
Other Institutional Entities
Retail Investors
11
64.16%12.91%
11.10%
10.17%1.66%
Estrategias Inmobiliarias Equity Securities- TEIS
I TRAMO
IT-07
II TRAMO
IVT-07
III TRAMO
IVT-09
IV TRAMO
IT-12
V TRAMO
IIIT-13
VI TRAMO
IVT-14
VII TRAMO
IVT-15
VIII TRAMO
IVT-16
IX TRAMO
IIT-17
X TRAMO
IVT-17
XI TRAMO
IIT-19
First lap Second lap
100%93%
7%
94%
6%
88%
12%
96%
4%
89%
11%
87%
13%
127,557 MM 204,863 MM 155,129 MM 178,995 MM 207,537 MM107,605 MM 251,866 MM
77%
23%
436,666 MM
603,367 MM
96%
4%
626,872 MM
66%
34%
816,617 MM
76%
23%
Equity Securities
Fungible
Indefinite outlook
99 extendable years
Quarterly distributable Cash Flow
Preemptive rights
1 Bid to cover
Bid to cover11.7x1.5x11.9x2.2x269.5x260.4x95.9x91.7x43.6x11.9x4.5x
12
Among the most traded securities in the colombian stock exchange
3
6
9
12
NAV (COP)
Increasing returns across time(1)
Offerings (2007 – 2020)
COP MM
5.00 5.45
6.15
7.16 7.84 7.97
8.66 8.96 9.40
9.97 10.50
13.2% 12.4% 11.9% 11.4% 11.1% 11.1% 10.5% 9.3% 8.3% 8.5% 8.3%
0%
10%
20%
30%
40%
0
3
6
9
12
I(Feb-07)
II(Nov-07)
III(Oct-09)
IV(Mar-12)
V(Jul-13)
VI(Sep-14)
VII(Dec-15)
VIII(Sep-16)
IX(Jun-17)
X(Dec-17)
XI(Jun-19)
Subscription Price Returns
%
Growing liquidity ADTV and number of trades
0.1 0.20.4 0.4 0.3 0.5
0.7 1.11.5
2.3
4.9
3.23.4
1.420 50 317545 537
764
1,221
1,832
2,5622,165
3,834
3,226 3,291
2,196
-
700
1,400
2,100
2,800
3,500
4,200
0.0
1.5
3.0
4.5
6.0
2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017 2018 2019 Sep-20YTD
# Transactions ADTV in COP MM
Pei available to
retail investor
TEIS price in secondary market vs. Nav(3)
%
80.0%
83.7%
90.0%
78%
88%
98%
108%
118%
2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017 2018 2019 sep-20
Minimum Average Maximum NAV
TEIS reference price performance(3)
COP MM
COP 10.7 MM
1. Returns calculated estimating IRR for each offering since inception and using TEI’s reference price as of Sep 20-20202. All figures converted using a COP/USD rate of 3,8793. Reference price reflects NAV adjusted for property revaluation and accumulated performance* NAV= Net Asset Value
TEIS have typically
traded at a premium
to reference NAV
USD 2,766(2)
USD 0.57 MM(2)
5%
% of Traded Days LTM
Pei available to
retail investors
Pei available to
retail investor
9% 20% 47% 51% 63% 74% 78% 92% 93% 96% 97% 97%USD 2,707(2)
COP thousands
of millions COP MM
93%
13
Market Price has dropped since mar-2020 as a covid effect for PEI and other real estate comparable securities.
¨YTD (Year to day)
Profitability
58% 61%
42% 39%
5 years LTM
Cash Flow Valorization
Profitability
1 Values refers to the year end
14
Pei is a long-term income vehicle, permanently incorporating new assets; therefore, it is important to analyze its profitability for stabilized periods (5 years
onwards), as such periods reap the stabilization benefits of the properties’ operation.
2014 2015 2016 2017 2018 mar-19 jun-19 sep-19 dec-19 mar-20 jun-20 sep-20
Since beginning 5 years LTM YTD
1 1 1 1
17%
11%
9%
5%
7%
15%
13%
1
*LTM ( Last Twelve Months)
¨YTD (Year to day)
15
Financial performance indicators
11%
0%
5%
27%
19%21% 21%
19%23%
21%
31%
24%
30%
2008 2009 2010 2011 2012 2013 2014 2015 2016 2017 2018 2019 sep-20
Loan to value (%)(2008-2020)
Limit 40%
Debt / equity (%)(2008 – 2020)
13%
0%
6%
39%
23%27% 27% 25%
39%
28%
46%
33%
46%
2008 2009 2010 2011 2012 2013 2014 2015 2016 2017 2018 2019 sep-20
1.6x
0.0x0.7x
4.4x
2.9x
3.8x 3.5x 3.6x
6.1x
4.4x
6.8x
4.9x
7.0x
2008 2009 2010 2011 2012 2013 2014 2015 2016 2017 2018 2019 Sep-20 LTM
Debt / EBITDA (Times)(2008-2020)
*LTM = Last Twelve Months
SEGUROS DEL ESTADO- BOGOTÁ
ASSETS
4
Office assets
REPRESENTATIVE ASSETS
# PropertiesCities
24Bogotá
5Medellín
2Cali
3Otros
Medellín
160,554 ft2Bogotá
179,068 ft2Bogotá
227,215 ft2
34 43% 27%PROPERTIES INCOMES GROSS LEASABLE AREA
47.8USD MM
Incomes LTM 2
3,017,222 Ft2
GLA 1
7.45 yearsAverage lease
term
Bogotá
374,627 ft2
Medellín
63,023 ft2
Cali
60,181 ft2
Otras
34,993 ft2
Bogotá
137,100 ft2
17
*September 20201 Gross Leseable Area2 Last Twelve Months
Retail assets
83 36% 32%
43.0GLA 1
4.19 years38Bogotá
9Medellín
4Cali
32Otros
Cali
164,081 ft2Montería
142,571 ft2Bogotá
822,226 ft2
Belén
50,192 ft2Bogotá
19,074 ft2Otras
166,302 ft2
Varios
225,288 ft2
18
PROPERTIES INCOMES GROSS LEASABLE AREA
Average lease
term
*September 20201 Gross Leseable Area2 Last Twelve Months
REPRESENTATIVE ASSETS
# PropertiesCities
USD MM
Incomes LTM 2
3,563,417 Ft2
Cúcuta
175,584 ft2
Logistics and industrial assets
25 18% 38%
22.4GLA 1
7.84 years5Bogotá
2Medellín
1Cali
17Otros
Varios
333,197 ft2Bogotá
21,140 ft2Cali
168,207 ft2Tenjo
691,538 ft2Barranquilla
120,803 ft2
Barranquilla
487,563 ft2
19
PROPERTIES INCOMES GROSS LEASABLE AREA
Average lease
term
*September 20201 Gross Leseable Area2 Last Twelve Months
REPRESENTATIVE ASSETS
# PropertiesCities
USD MM
Incomes LTM 2
4,258,691 Ft2
Others assets
4 3% 3%
3.3GLA 1
6.16 years1Bogotá
1Medellín
2Cali
Medellín
170,317 ft2 Cali- Tequendama
38,233 ft2
Bogotá
155,926 ft2 Cali- Ciudad jardin
27,911 ft2
20
PROPERTIES INCOMES GROSS LEASABLE AREA
*September 20201 Gross Leseable Area2 Last Twelve Months
REPRESENTATIVE ASSETS
# PropertiesCities
Average lease
termUSD MM
Incomes LTM 2
392,387 Ft2
53%
12%
11%
5%4%
15%
Medellín
Tenjo
Barranquilla
Cali
Bogotá
Others
By city(2)
38%
27%
32%
3%
By Gross Leasable Area (GLA)
21
43%
25%
18%
11%3%
%Income LTM
21%
14%
7%6%4%4%4%
4%3%
3%
31%
Banks
Retail (food)
Servicios (general)
Retail (non-food)
Logístic
Massive consumption
Oil and gas production
Restaurants
Diversified industry
Airlines
Others
*LTM ( Last Twelve Months)
Best-in-class real estate assets
PORTFOLIO GUIDELINES
INCLUDE SPECIFIC LIMITS ON
CONCENTRATION WHERE
DIVERSIFICATION IS A CORE
COMPONENT OF THE
STRATEGY
• Revenue per tenant is limited
at 20% of total revenue
• Revenue by asset class
maximum of 40%
• Exposure by asset class
cannot be exceed of 70% of
revenues
• Concentration per city, on a
revenue basis, cannot
exceed:
By asset type(1)
Essential
establishments
Others
Logistics and
industrial
Retail
Office
Others
Logistics and
industrial
Retail
Office
85%Btá
50%Med.
30%Others
50%Cali
Limit Limit 70%
By economic sector(2)
%Income LTM
%Income LTM
%GLA
3.9
2.5
1.61.41.4
7.40.8
0.50.5
0.10.10.1
0.54.2
3.5
0.60.50.4
27.2
6.1
3.3
3.0
2.62.4
25.2
Office
Best-in-class tenants22
Diversified Tenant profile (% Total income LTM)
High quality tenants… Robust lease term profile (as of Sep 30, 2020)
Others
OthersRetail
Others
Logistic and industrial
Others1Others
Grupo Crystal
Colsanitas Medicina
Prepagada
Colsanitas
Ciudad Jardín
EPS Sanitas
*LTM ( Last Twelve Months)1. Investment grade either in local or global basis. Some tenants are not rated2. Historic retention rate is calculated by dividing total number of contracts renewed by total number of contracted to be renewed at any given date
Some of our premium – long term tenants(1)
8.9%Average physical
vacancy 2020
10.3%Average economic
vacancy 2020
1. Includes 1% of Éxito stake and 0.1% of Davivienda stake in the logistic and industrial category.
Logistic and industrialOffice Retail Other Real Estate Assets(
4%13%
9% 11%5%
58%
4Q-2020 2021 2022 2023 2024 2025-2068
10.4%
0.6%4.6%
4.2%
3.3%
3.0%
2.6%
71.5%
Others
%Income LTM
%Total income
LTM
%Total income
LTM
%Total income
LTM
%Total income
LTM
Developing Assets1
Office
Specialized
Retail
Medellín
21,316 m2
COP 171,278 MM
82%
Bogotá
57,916m2
COP 315,000MM
56%
Logistics
Ibagué
13,163 m2
COP 28,402 MM
100%
Medellín
14,316 m2
COP 42,269 MM
26.42%
Baru
187 keys
120,120MM
60%
1 Property Assets in building process or to build and/or Trust Rights which underlying assets were Property Assets in building process or to build.
23
CEDI
HOTEL
STAGE IV
COLOMBIAN
REAL ESTATE
MARKET
TORRE SURA & TORRE BOLIVAR - BOGOTÁ
24
5
Real estate market evolution in Colombia25
Bogotá Medellín
188 207 207 207 207 207 228 228
2,521 2,726 2,772 2,773 2,797 2,826 2,880 2,880
3.5% 3.7%1.7%
4.7% 5.2%3.1%
11.5%14.4%
12.1% 11.1% 9.6% 9.1% 8.3% 8.7%
7.4% 7.5%
-4 0.0 %
-3 0.0 %
-2 0.0 %
-1 0.0 %
0.0 %
10 .0%
20 .0%
2017 2018 2019-IQ 2019-IIQ 2019-III Q 2019-IVQ 2020-QI 2020-QII
35 35 35 35 36 36 36 36
657 703 703 712 712 730 742 742
23.0%
0.5% 0.5% 0.5% 0.5% 0.5% 0.0% 0.0%
11.0%9.1%
7.1% 8.3% 9.2% 9.5%7.0% 6.6%
-4 0.0 %
-3 0.0 %
-2 0.0 %
-1 0.0 %
0.0 %
10 .0%
20 .0%
90 90 90 90 90 90 107 107
1,531 1,632 1,632 1,743 1,743 1,810 1,810 1,810
14.0% 17.2% 17.2% 17.2% 13.4% 10.0% 8.2% 8.7%
12.4% 7.3% 7.3%7.3% 5.9%
7.1% 5.8% 6.5%
-1 00. 0%
-8 0.0 %
-6 0.0 %
-4 0.0 %
-2 0.0 %
0.0 %
20 .0%
56 62 62 62 62 62 62 62
706880 892 892 892 942 942 942
0.7% 0.6% 0.9% 0.7% 1.0% 0.9% 1.0%
6.20%3.3% 4.5% 4.4% 4.1% 4.0% 3.6% 3.0%
3.0%
-4 0.0 %
-3 5.0 %
-3 0.0 %
-2 5.0 %
-2 0.0 %
-1 5.0 %
-1 0.0 %
-5 .0%
0.0 %
5.0 %
10 .0%
2017 2018 2019-IQ 2019-IIQ 2019-III Q 2019-IVQ 2020-QI 2020-QII
33 33 33 33 33 3333 33
697 705 709 709 757 813 813 813
2017 2018 2019-IQ 2019-IIQ 2019-III Q 2019-IVQ 2020-QI 2020-QII
175 175 175 175 175 176 176 176
3,743 3,828 3,842 3,842 3,861 3,943 3,948 3,969
2.8% 3.8% 3.8% 2.6%
10.2% 9.9% 10.0% 10.0%
17.9% 17.7% 17.4% 17.6% 16.5% 15.4% 14.8% 16.6%
-5 0.0 %
-4 0.0 %
-3 0.0 %
-2 0.0 %
-1 0.0 %
0.0 %
10 .0%
20 .0%
2017 2018 2019-IQ 2019-IIQ 2019-III Q 2019-IVQ 2020-QI 2020-QII
0%16% 16% 16%
49%
0% 0% 0%20%8.5% 7.0% 7.0% 11.1%
10.1%13.5% 13.3%
Source: Colliers- Values in thousands of m2
2017 2018 2019-1T 2019-2T 2019-3T 2019-4T 2020-1T 2020-2T
2017 2018 2019-1T 2019-2T 2019-3T 2019-4T 2020-1T 2020-2T
2017 2018 2019-1T 2019-2T 2019-3T 2019-4T 2020-1T 2020-2T2017 2018 2019-1T 2019-2T 2019-3T 2019-4T 2020-1T 2020-2T
2017 2018 2019-1T 2019-2T 2019-3T 2019-4T 2020-1T 2020-2T
2017 2018 2019-1T 2019-2T 2019-3T 2019-4T 2020-1T 2020-2T
OFFICE
LOGISTIC AND
INDUSTRIAL
RETAIL
Market InventoryPei Inventory Pei Vacancy Market Vacancy
Real estate market evolution in Colombia26
31 62 62 62 68 68 68 68
362362 362 362 362 362 362 362
4.3% 4.5% 5.6% 5.6% 5.6% 5.6% 4.9%8.0%
10.1% 11.2% 11.3% 11.7% 11.8% 12.6% 12.3% 12.3%
-4 0.0 %
-3 0.0 %
-2 0.0 %
-1 0.0 %
0.0 %
10 .0%
20 .0%
Barranquilla Cali
225 225 233 233 236 236 236 236
17.1%
29.2% 29.1%25.1% 24.0% 25.7% 25.0% 23.9%
-4 0%
-3 0%
-2 0%
-1 0%
0%
10 %
20 %
30 %
40 %
1 120 20 20 20 20 19
315 339 339 339 339393 393 393
6 6 6 6 6 6 6 6
150 156 156 157 157 156 164 164
0.0% 0.0% 0.0% 0.0% 0.0% 0.0% 0.0% 0.0%
6.5%11.0% 9.3% 9.9% 9.9% 11.2% 9.1% 8.8%
-8 0%
-2 0%
2017 2018 2019-IQ 2019-IIQ 2019-III Q 2019-IVQ 2020-QI 2020-QII
0.0% 0.0% 0.0% 0.0% 0.0% 0.0% 0.0% 0.0%
7.0% 10.0% 9.9% 8.3% 12.0% 10.5% 11.7% 11.7%
0.0% 0.3% 0.3% 0.1% 0.4% 0.0% 0.9% 3.6%
5.5% 5.8% 5.7% 5.7% 5.4% 5.2% 5.0% 5.2%
2017 2018 2019-1T 2019-2T 2019-3T 2019-4T 2020-1T 2020-2T
2017 2018 2019-1T 2019-2T 2019-3T 2019-4T 2020-1T 2020-2T
2017 2018 2019-1T 2019-2T 2019-3T 2019-4T 2020-1T 2020-2T
Market InventoryPei Inventory Pei Vacancy Market Vacancy
OFFICE
LOGISTIC AND
INDUSTRIAL
RETAIL
4 53 53 53 53 53 53 57
1,156 1,184 1,190 1,190 1,201 1,227 1,235 1,235
76 96 96 96 96 96 96 96
507 511 511 511 511 511 511 511
0.0% 0.0% 0.0% 0.0%
9.7% 10.0% 9.7% 9.7%11.0%
5.0% 5.8% 5.2%
4.7% 4.8% 5.3% 6.7%
-8 0%
-7 0%
-6 0%
-5 0%
-4 0%
-3 0%
-2 0%
-1 0%
0%
10 %
20 %
2017 2018 2019-1T 2019-2T 2019-3T 2019-4T 2020-1T 2020-2T
2017 2018 2019-1T 2019-2T 2019-3T 2019-4T 2020-1T 2020-2T
2017 2018 2019-1T 2019-2T 2019-3T 2019-4T 2020-1T 2020-2T
Source: Colliers- Values in thousands of m2
WWW.PEI.COM.CO
JIMENA MAYA
Investor Relationship Manager
Tel. (+ 571) 744 8999 Ext. 4202- 4270