Colombia. Tower 3 of the Colpatria Business Center, located in one of the new areas with greater business connectivity in the Colombian capital, near Calle 127, Avenida Córdoba, Autopista Norte and Avenida Suba, becomes the new business boom of the Bogotá office market.
The Prime building of 12 floors and 38,000 square meters, has high-level tenants such as Merck, Sharp & Dohme, Dow Química, among others.
The owner of Tower 3 of the Colpatria Business Center is Old Mutual Real Estate Investment Fund Buy to Lease, which is managed by Old Mutual Fiduciaria and Kiruna Capital Partners.
Taking into account the new boom of the real estate industry in Colombia, especially in offices, the Old Mutual Real Estate Fund Buy to Lease, managed by Old Mutual Fiudciaria and Kiruna Capital Partners, decided to invest in the real estate project "Torre 3" of the Colpatria Business Center, located in the town of Suba, one of the largest in the Colombian capital. Kiruna Capital Partners and Old Mutual Fiduciaria has the support of CBRE for the management of Tower 3 of the Colpatria Business Center, and Colliers International for its administration.
"The city has grown and new areas where development is coming are being consolidated. We never imagined that in this area a business complex of these dimensions could be realized. Thanks to the investment of the funds, we are a leading project in energy conservation and environmental design with Leed Gold certification, complying with all international standards. In addition, the location of the tower makes it very attractive to our tenants. Suba has approximately 1.3 million inhabitants, which could be the sixth largest city in the country and we are providing Bogota residents with a quality business center," says Felipe Pacheco, Portfolio Manager of Kiruna Capital Partners.
The built area has 12 floors of class A+ offices, 38,000 square meters built and floors of 2,100 square meters. Trends in the real estate world confirm that the central areas of the city are becoming more expensive every day and it is necessary to generate other nuclei and submarkets that allow citizens to have work sites that can be easily accessible.
"We cannot forget that the real estate industry is the second most important participant in the Gross Domestic Product and the third most important generator of employment in the country. We are rebounding and returning to being that great generator of employment that we have always been. We had a few difficult years, but in the future there will be policies that allow us to generate land and make interesting projects, we are returning to the path of growth in the real estate sector," says Pacheco.
Currently the project is aimed at multinational companies that want to invest in the country. Companies in the pharmaceutical sector are already tenants and have Colombian labor and countless employees with local talent in their offices.
"I think Colombia is on the right track. Obviously, like all economies, they have a cycle. Oil affected us for about 3 or 4 years. We are reaching a positive cycle where the economy is going to grow. There may be a perception of legal uncertainty but in general terms, this is a country that respects the rule of law and if we compare ourselves with our peers in Latin America, we are one of the few that have had a permanent rule of law in the last 70 years. We have important challenges such as consolidating peace, but that does not scare us to believe in our country," concludes Pacheco.
