Pei
Pei (BVC: PEI) is a publicly-listed Colombian real estate investment vehicle that issues Títulos Participativos equity securities on the Bolsa de Valores de Colombia, granting investors proportional ownership in a diversified portfolio of 150+ income-generating properties across 30+ Colombian cities, generating quarterly rental income distributions.
- Company typePublic
- Founded2007
- HeadquartersBogotá, Colombia
- Headcount51–100
- GTM typeB2B and B2C
- OfferingServices
What Pei does
Pei (Patrimonio Autónomo de Titularización Inmobiliaria - Estrategias Inmobiliarias) is a publicly listed Colombian real estate investment vehicle, structured as a REIT-inspired autonomous trust that issues Títulos Participativos (PEIS) equity securities on the Bolsa de Valores de Colombia under the ticker PEI. Since the first issuance in 2007, Pei has offered eleven tranches of PEIS to the market and assembled a portfolio of 150+ income-generating assets spanning corporate, commercial, logistics, and specialized real estate across more than 30 Colombian cities, totaling 1.15 million square meters of leasable area and COP 10.31 billion+ in assets under management. The vehicle is administered by Pei Asset Management, with Fiduciaria Corficolombiana acting as the managing agent and Fiducoldex serving as the legal representative of investors; an Advisory Committee with a predominantly independent membership provides governance oversight.
The business model is anchored in recurring rental income from 1,400+ tenants across approximately 2,500 lease agreements, distributed to PEIS holders on a quarterly cadence (10th business day of February, May, August, and November) via Distributable Cash Flow (FCD). Pei supplements equity funding with ordinary bonds (the first REIT bond issuance in Colombia, executed in August 2018), targeting an investment return of IPC + 7% over a 10-year horizon. The PEIS carries BRC Standard & Poor's highest equity rating of i-AAA, continuously since 2011, and is included in the MSCI COLCAP, MSCI All Colombia Select 25/50, and MSCI nuam indices, while the bond program holds an AA+ long-term and BRC 1+ short-term rating. The investor base comprises 10,000+ holders spanning mandatory and voluntary pension funds, insurance companies, mutual funds, family offices, and 8,000+ natural persons.
Go-to-market is a hybrid of sales-led institutional IR (quarterly earnings conferences, investor assemblies, direct IR communications) and direct-to-consumer securities distribution via the BVC secondary market and licensed brokerage intermediaries (Valores Bancolombia, Davivienda Corredores, Casa de Bolsa, Itaú). The vehicle is monetized through continuous PEIS primary issuances for capital growth, secondary trading for liquidity, and asset rotation transactions — most recently evidenced by the March 2026 partial divestment of the Plaza Central shopping center to Cencosud's Cenco Malls for COP 459,000 million, with proceeds partially applied to a COP 300,000 million debt prepayment. Pei also maintains ESG positioning via UN PRI membership and adherence to Colombia's National Net Zero Carbon Buildings Roadmap, alongside the Academia Pei e-learning platform and Inversión Inteligente blog supporting retail investor education.
Pei firmographics
Firmographics- Name
- Pei
- Legal name
- Pei - Vehículo de Inversión Inmobiliaria
- Website
- https://pei.com.co
- Company type
- Public
- Founded year
- 2007
- Operating status
- Operating
- Headcount range
- 51–100 employees
- Short description
- Pei (BVC: PEI) is a publicly-listed Colombian real estate investment vehicle that issues Títulos Participativos equity securities on the Bolsa de Valores de Colombia, granting investors proportional ownership in a diversified portfolio of 150+ income-generating properties across 30+ Colombian cities, generating quarterly rental income distributions.
- Ownership category
- akta.pro rank
Pei industry classification
Industry- Product category
- Real Estate Investment Trust
- NAICS
- Other Investment Pools and Funds (5259), Trusts, Estates, and Agency Accounts (525920), Other Financial Vehicles (525990)
- SIC
- Real Estate Investment Trusts (6798), Real Estate (6500)
- akta.pro primary industry
- Real Assets & Infrastructure ETFs (REITs, Infrastructure, Natural Resources) (FSAAAFAH)
- akta.pro secondary industry
- Corporate & Institutional Trust Services (FSAAANAB)
Keywords
Where Pei is headquartered
LocationHeadquarters
- HQ city
- Bogotá
- HQ country
- Colombia
- HQ region
- Latin America
Offices1 record
Markets served
Pei business model
Business model- GTM type
- B2B and B2C
- Offering type
- Services
- Cost components
- Operations, Personnel, Infrastructure, Marketing or Sales, Technology or R&D
Revenue model
- Rental income from real estate portfolio: Pei generates revenue primarily through rental income from its diversified portfolio of 150+ income-generating real estate assets across Colombia, spanning corporate, commercial, logistics, and specialized use categories. Income is distributed to equity security holders on a quarterly basis (10th business day of February, May, August, and November) as Distributable Cash Flow (FCD).
- Capital appreciation of real estate assets: Investors benefit from potential appreciation of the underlying real estate portfolio, which can be realised through secondary market trading of PEIS equity securities on the Bolsa de Valores de Colombia.
- Ordinary bonds issuance: Pei issued ordinary bonds in August 2018 (and subsequently) as a source of financing to replace liabilities and diversify funding sources, with proceeds directed entirely to debt substitution and cost optimization.
Pricing tiers
| Model | Billing | Price |
|---|---|---|
| Unit Pricing | Pay-as-you-go | Single equity security investment |
Go-to-market motion2 records
Distribution channels3 records
Marketing channels8 records
Pei product offering
Product offeringCore offering
Pei is a Colombian real estate investment vehicle structured as a REIT-like trust (Patrimonio Autónomo de Titularización Inmobiliaria) that owns a diversified portfolio of 150+ income-generating commercial, corporate, logistics, and specialized real estate assets across 30+ Colombian cities. It issues and trades equity securities (Títulos Participativos / PEIS) on the Bolsa de Valores de Colombia, distributing quarterly Distributable Cash Flow (FCD) to investors and targeting returns of IPC + 7% over a 10-year horizon. It complements the equity offering with ordinary bond issuances (Bonos Ordinarios) for debt financing.
Product overview
Pei (Patrimonio Autonomo Estrategias Inmobiliarias) is a Colombian real estate investment vehicle structured as a real estate investment trust (REIT) inspired model. The primary product is the Títulos Participativos (PEIS) — equity securities traded on the Bolsa de Valores de Colombia (BVC: PEI) that give investors proportional ownership in a diversified portfolio of income-generating real estate assets. Pei complements its core securities offering with ordinary bonds (Bonos Ordinarios) for debt financing, and investor-facing services including an Investor Portal, Academia Pei (financial education platform), the Blog Inversión Inteligente (educational blog), Flujo de Caja Distribuible reporting, and Certificados Tributarios. The vehicle holds over 150 assets across corporate, commercial, logistics, and specialized categories in 30+ Colombian cities, with BRC Standard & Poor's highest rating of i-AAA for its participation titles since 2011.
Differentiator
Problem solved
Functional benefit
Products and services
- Títulos Participativos (PEIS) — Equity Securities
Quantifiable outcome
- Target return of IPC + 7% for a 10-year investment period
- +5 more outcomes
Companies that use Pei
Customer profileNamed customers5 records
Segments5 records
Ideal customer profiles3 records
Pei technology and API
TechnologyTechnology focussed No
API detail
- Has API
- No
- API docs
- API detail
Core technology
AI maturity
App detail
Feature2 records
Pei partnerships and signals
Strategic signalPartnerships
One partnership is on record.
- Cencosud / Cenco MallsmajorIn March 2026, Pei announced the partial divestment of its stake in the Plaza Central shopping center, selling 51% to the international group Cencosud (through its Cenco Malls subsidiary) for COP 459,000 million, while retaining a 49% ownership stake. This marks a new stage for the property and enables Pei to execute its active portfolio management and optimization strategy while maintaining a minority interest in the asset.
Scale indicators24 records
Recent moves7 records
Expansion highlights5 records
Pei competitors and assessment
Company assessmentDirect peers
- Fibra Uno: Mexico's largest REIT (FUNO11), operating a diversified portfolio of commercial, industrial, and retail real estate. Most directly comparable LatAm REIT in terms of diversified property strategy, listed structure, and institutional investor base.
- Terrafina: Mexican industrial/Logistics REIT with a diversified portfolio across Mexico. Comparable to Pei's logistics real estate exposure and similar capital-raising model through listed equity securities.
- Fibra Macquarie: Mexican industrial REIT managed by Macquarie. Similar retail-and-industrial real estate strategy and listed securities structure to Pei's commercial/logistics portfolio approach.
- Vesta: Mexican REIT/logistics real estate company with industrial properties. Comparable scale and strategic focus on long-lease logistics and corporate real estate to Pei's specialized portfolio segment.
- Parque Arauco: Chilean-listed shopping center operator (PARAUCO) with malls in Chile, Peru, and Colombia. Directly comparable in retail/shopping center exposure and emerging market LatAm listed structure.
- IRSA Propiedades Comerciales: Argentine commercial real estate company with shopping centers and office properties. Comparable as a LatAm listed real estate vehicle with retail/commercial exposure and institutional investor focus.
- Lar España Real Estate: Spanish listed REIT (LRE) with a portfolio of shopping centers, retail parks, and logistics assets. Comparable in retail/commercial/logistics mix and listed investment vehicle structure, particularly relevant for European institutional investor benchmarking.
Regional players
- Cencosud Shopping: Chilean shopping center REIT that owns the Cenco Malls subsidiary that just acquired 51% of Plaza Central from Pei. Highly comparable as a LatAm shopping center vehicle and direct counterparty in Pei's recent strategic transaction.
- Corporación Inmobiliaria Vesta: Mexican logistics/industrial REIT with similar asset specialization. Comparable as a LatAm institutional real estate vehicle, though focused exclusively on logistics while Pei maintains a diversified strategy.
Broad incumbents
- Unibail-Rodamco-Westfield: Global commercial real estate conglomerate and listed REIT focused on premium shopping centers. Comparable as an established, large-scale shopping center operator and benchmark for institutional REIT governance and capital structure.
Market position
Strengths5 records
Weaknesses4 records
Competitive moat5 records
Key risks5 records
Key highlights7 records
Customer concentration
Pei social profiles
Digital presencePei financial estimates
Financial estimateRevenue estimate
Valuation estimate
Pei leadership team
Management profileNumber of profiles
Profiles9 records
Pei funding detail
Funding detailFunding overview
Funding rounds
Investors
Funding detail is available on the Subscription and Enterprise plan.Contact sales →
Pei M&A and investment
M&A and investmentM&A
Investments
M&A and investment is available on the Subscription and Enterprise plan.Contact sales →
Frequently asked questions about Pei
What does Pei do?
Pei is a Colombian real estate investment vehicle structured as a REIT-like trust (Patrimonio Autónomo de Titularización Inmobiliaria) that owns a diversified portfolio of 150+ income-generating commercial, corporate, logistics, and specialized real estate assets across 30+ Colombian cities. It issues and trades equity securities (Títulos Participativos / PEIS) on the Bolsa de Valores de Colombia, distributing quarterly Distributable Cash Flow (FCD) to investors and targeting returns of IPC + 7% over a 10-year horizon. It complements the equity offering with ordinary bond issuances (Bonos Ordinarios) for debt financing.
Is Pei a public or private company?
Pei is a public company. It is classified as public and is currently operating.
When was Pei founded?
Pei was founded in 2007. It employs 51 to 100 people.
Where is Pei based?
Pei is headquartered in Bogotá, Colombia, in the Latin America region.
How does Pei make money?
Three revenue lines are on record. Rental income from real estate portfolio is the primary driver. The others are capital appreciation of real estate assets and ordinary bonds issuance.
Who are Pei's main competitors?
Direct peers on record are Fibra Uno, Terrafina, Fibra Macquarie, Vesta, Parque Arauco, IRSA Propiedades Comerciales and Lar España Real Estate. Regional players are Cencosud Shopping and Corporación Inmobiliaria Vesta. Unibail-Rodamco-Westfield is listed as a broad incumbent.
Does Pei have an API?
No public API is recorded for Pei.
What industry is Pei in?
Pei's product category is Real Estate Investment Trust. Its primary akta.pro industry code is FSAAAFAH, Real Assets & Infrastructure ETFs (REITs, Infrastructure, Natural Resources), with a secondary code of FSAAANAB, Corporate & Institutional Trust Services. Its NAICS code is 5259 and its SIC code is 6798.