Investment Management Unit of SURA signs commitment to purchase Edificio De Las Artes. The Investment Management Unit of SURA Asset Management has just signed a promise to buy the Edificio de las Artes Building in Santiago, Chile. This will complete the total amount of the investment fund SURA Renta Inmobiliaria II, which just began operations one year ago, and will also have investment from the fund SURA Renta Inmobiliaria III, which will participate in this transaction with an amount larger than that of Fund II.
The Edificio de las Artes Building is located in the heart of the neighborhood Nueva Las Condes. This building will be part of the portfolio of assets, which currently includes the New Santa Maria Tower, and a warehouse center located in Izarra, Pudahuel area, also in the Metropolitan Region.
Consequently, the SURA Renta Inmobiliaria II Fund will be managing assets amounting to USD $122 million. This fact, in turn, marks the beginning of investments of the SURA Renta Inmobiliaria III Fund, which has already had the subscription of investment commitments by institutional and non-institutional investors.
This will be SURA’s third real estate investment in the Nueva Las Condes neighborhood since in 2016, SURA, together with GLL – the German investment fund –, purchased the building where the ITAÚ Bank is currently located and also developed, together with SENCORP, the construction of Nueva Córdova on the corner of the street Cerro el Plomo and the avenue Alonso de Córdova.
The occupancy rate of the Edificio de las Artes Building is stabilized and generating income flows through lease agreements with first class companies. This Class A real estate asset has 23 floors and architecture of the highest standards, given it has two bridges and a 3-level commercial site connected by escalators, providing the sector with a gym, restaurants, coffee shops, among others.
The Investment Management unit has developed a regional platform with scalable operation models and high portfolio & risk management standards, relationship with institutional clients and development of Latam products
About Investment Funds SURA Renta Inmobiliaria
The Investment Fund SURA Renta Inmobiliaria II considers an investment strategy with high-level real estate assets, seeking to generate stable flows over time through lease agreements. In turn, the newly launched Investment Fund SURA Renta Inmobiliaria III is its continuation; although it is focused mainly on the institutional sector. This product was created based on the positive outlook for the real estate market in the coming years.
About Investment Management
Investment Management is the SURA Asset Management Unit dedicated to managing assets and investments for the institutional segment. Our knowledge and widespread presence in several Latin American countries, managed under a regional platform, makes us an optimal investment vehicle connecting the region with global markets.
We create customized solutions, seeking to contribute to their competitiveness through our more than 400 investment funds in equity instruments, fixed income, multi-assets, insurance, mandates, alternative assets among others.
We have developed a regional platform with scalable operation models and high standards in portfolio management and relationship with institutional clients.
About SURA Asset Management
SURA Asset Management is a Company with expertise in Pensions, Savings and Investments and is present in Chile, Mexico, Colombia, Peru, El Salvador and Uruguay. It is a subsidiary of Grupo SURA together with other minority investors. As of September 2018, SURA Asset Management’s AUM amounts to USD$135 billion owned by about 20 million customers
*Clients and AUM include AFP Protección in Colombia and AFP Crecer in El Salvador, although they are not controlled companies, SURA AM has a significant stake in them.