News
Colombian Blend
September 9, 2011
| Colombia has come a long way since the late '80s (not literally, it still borders Peru) and is undergoing a real estate evolution—one that Equity International wants to be a part of, says EI's Thomas McDonald. | |
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| EI invested $75M with Colombian development firm Terranum, one of the first full-service real estate firms in the Latin American country. While most corps owned their own real estate there until recently, Terranum is providing alternatives in major cities like Bogota, Medellin, and Cartagena (they must be big fans of Romancing the Stone) especially in industrial and office space for multi-national corporations (energy execs have been big on Colombia for years). | |
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| One of Terranum's new developments is the 2M SF mixed-use Connecta building, built on a site the company owns near the Bogata airport. While Equity International has been focused on Brazil for the last few years, they saw the opportunity for scale with business-friendly Colombia providing a beachhead for entering Peru, Costa Rica, and Central America, as well as a great zone for transportation because of its access to both the Atlantic and Pacific Oceans, Thomas says. |
