Grupo Cibest unit Bancolombia buys Bogotá logistics park

Bancolombia S.A., a subsidiary of Grupo Cibest S.A., has agreed to acquire income-producing facilities at Parque Logístico Calle 80 in Bogotá from developer Logistic Properties of the Americas. The all-cash deal is valued at COP 500 billion, equivalent to approximately US$152 million at an exchange rate of COP 3,300 per dollar. Closing is scheduled early in the fourth quarter of 2026, subject to customary conditions.

The portfolio comprises five fully leased buildings encompassing approximately 1.26 million square feet occupied by multinational tenants. The purchase price reflects an in-place capitalization rate of 8.2% and is within roughly 5% of the logistics park's most recent independent appraised value.

Under the terms of the agreement, Logistic Properties of the Americas will continue as property manager, overseeing operations and tenant services in exchange for a management fee of 1.5% of rental revenues paid by Bancolombia. The seller will also retain fully serviced land at Calle 80 with capacity for 1.08 million square feet of future buildable area.