Colombian RE Fund to Sell Additional Shares

Colombia’s Terranum Inversion is planning to sell a tranche of new shares in its Patrimonio Autonomo Estrategias Inmobiliarias real estate fund, raising COP110.2-COP179.0bn ($58m-$94m). The fund plans to sell 14.2m-22.8m shares at COP7,840 each today through Friday, according to a regulatory filing. This compares to the COP7,757 July 8 trading level, the most recent listed on the fund’s website. Existing holders will have first crack at the new shares during the first two days of the sale period, with any remaining shares available to the public. The fund, considered to be the only asset of its kind in Colombia, acquires and manages operating commercial property throughout the country. Proceeds from this week’s sale will be used to acquire additional properties. Corredores Asociados is managing.