Patrimonio Estrategias Inmobiliarias’ $220 Million Acquisition of Shopping Malls in Colombia


Holland & Knight’s Bogotá office represented Operadora de Comercio S.A.S. in the transaction.

Operadora de Comercio S.A.S. completed the negotiation and $220.7 million sale of five outlet malls to Patrimonio Estrategias Inmobiliarias (PEI), the largest real estate investment trust (REITs) in Colombia. The deal closed on December 16, 2019, after a one-year negotiation.

The five malls, which are located in Cali, Yumbo, Villavicencio, Barranquilla and Neiva and operate under the UNICO brand, will continue to be managed by Operadora de Comercio S.A.S.

The deal included a complex fiduciary structure, a trademark license agreement and a property and facility management agreement.

Based in Cali, Operadora de Comercio S.A.S. is a company that specializes in the operation of shopping centers.

Holland & Knight partners Lucas Saffon-López (Picture) and Enrique Gómez-Pinzón led the firm’s representation of Operadora de Comercio S.A.S. They were assisted by associates Maria Alejandra Cabrera and Felipe Marquez.

Involved fees earner: María Alejandra Cabrera – Holland & Knight; Enrique Gomez-Pinzon – Holland & Knight; Felipe Márquez – Holland & Knight; Lucas Saffon-López – Holland & Knight;

Law Firms: Holland & Knight;

Clients: Operadora de Comercio S.A.S.;