Terranum FO on Target

Colombia’s Terranum Inversion has sold COP172.66bn ($92m) worth of shares in its Patrimonio Autonomo Estrategias Inmobiliarias real estate fund during the first two days of the sale period, according to regulatory documents. The fund sold 22.02m shares, or 96% of those on offer, to existing holders, with the remainder available to the broader public through Friday. The shares are offered at COP7,840 each. 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.