EI Moves into Colombia

Equity International (EI), the investment vehicle founded by Gary Garrabrant and billionaire Sam Zell, has made a $75m investment in Colombian developer Terranum Development. The stake in the privately-held corporate real estate specialist is EI’s first venture into the Andean nation. Privately-held Terranum Development has a pipeline and portfolio totaling $500m and is a part of real estate developer Terranum, co-owned by boutique investment bank Estrategias Corporativas and the Santo Domingo family. EI has been active in Brazilian real estate, owning part of BR Malls and recently exiting a position in homebuilder Gafisa.