1. Sabemos Cómo
1
BOGOTÁ

2. Sabemos Cómo
Fondo Inmobiliario

3. Sabemos Cómo
With a strategy based on fostering the country´s
economic development, Profesionales de Bolsa
promotes a new way of doing business through the
creation of its Private Equity Funds, successfully
managing more than $ 550 billion COP.
Through the Real Estate Value Private Equity Fund,
Profesionales de Bolsa began its project of logistics
terminals in Colombia with an estimated value of 400
billion COP. This project promotes the logistic
operations in Colombia.
In 2013, the first logistic terminal of Colombia-
Cartagena was consolidated with a value of 160
billion COP, being the first step of the program
created with its analogous terminals: TLC-Bogotá,
TLC-Barranquilla and TLC-Cali.
Private Equity Fund-
TLC Bogotá

4. Sabemos Cómo
Fondo Inmobiliario
Private Equity Fund- TLC- Cartagena

5. Sabemos Cómo
Private Equity Fund
The Real Estate Value Fund is constituted under a
Private Equity Fund, representing a novel model in
Colombia: this figure allows for the participation of
several investors in the same project throughout its
whole value chain, expecting to generate higher yields
than the market average.
Advantages:
• Independent equity, separate from the assets
owned by the managing company
• Administered by a highly qualified professional
manager
• Supervised by a market controller
(Superintendencia Financiera de Colombia) under
a legal framework, watching over adequate
structuring and management
• A collective savings vehicle, allowing for
economies of scale

6. Sabemos Cómo
The Fund, a reality
Terminales Logísticos de Colombia (Logistics
Terminal of Colombia) – Bogotá is the second
structured fund, counting with 4 terminals. The fund
offers a terminal with modular and flexible units for
rent, which allow storage and/or redistribution of
merchandise in extensive areas free of inner
columns, which are ideal for the support of logistic
and industrial operations.
OPERATIONAL ACTIVITIES:
• Cross Docking platform
• Physical distribution of cargo
• Warehouse management and control
• Preparation of orders (“picking”)
• Processes of re-exporting cargo
• Added value operations for cargo
• Operations for containers with refrigerated cargo
• Loading and unloading of loose merchandise and trailer
trucks.
•Consolidation and deconsolidation of cargo in containers
•Packaging, labeling (bar codes and others), palletizing and
packing
Cali
Barranquilla
Cartagena
Bogotá

7. Sabemos Cómo
Private Equity Fund
It features:
Logistics specialized storehouses, retail and offices.
Location: Siberia –Tenjo Road
.
Fund’s Estimated Duration:
23 Years
2 years of development
22 year of lease
Minimum Investment:
500.000.000 COP.
Total investment:
COP $120.000.000.000 (2014)
Start of construction
January 2015
Development Areas:
Total area of the lot: 187,469 m
2
Ships: 79.982 m
2
Officemezzanine: 11.540 m
2
Retail Area: 5.657 m
2

8. Real Estate Value Fund
Sabemos Cómo
Location of the Private Equity Fund – Real Estate Value
- TLC-Bogotá
1,6 Km of Vía Cota Funza / 2 min
2,2 Km of Bogotá 80 Street / 3 min
12,2 Km of Bogotá 13 Street / 15 min
16,8 Km of Chía / 22 min
20,2 Km of El Dorado Airport / 30 min

9. Real Estate Value Fund
Sabemos Cómo
Phases
0%
50%
100% 100%
1
2
3
4
August 2014 July 2016 February 2017 July 2036
Purchase of the Lot
Construction
Assessment of the project
Lease for 22 years
Sale of the Project
RENT

10. Sabemos Cómo
Private Equity Fund
TLC Bogotá
Monitoring Committee
Investment
Committee
Tax Auditor
Management
Company
Manager
Contractors
Authority Control
Authority Control
Investors Assembly
Directors
Board

11. Real Estate Value Fund
Sabemos Cómo
Expected Profitability
Regulatory Setting
Periodical payments to the investor since year 3.
At the end of the term, the total assets of the Fund are sold.
Expected Internal Yield with Sale: 15,94% P.A.C.A.*
Estimated Internal Return Rate without Sale: 15,18%
P.A.C.A.*
• Expected Inflation: 3%
• Appreciation: IPC +2%
• Rental fee adjustments: IPC +1%
• Construction: 50% year 1; 50% year 2
Occupation:
– Year 2 - 60%
– Year 3 - 80%
– Year 4 - 95%
– Subsequent years: 100%
*Warning: the obligations of the collective portfolio managing company with the management of the portfolio
are of means and not of results.

12. Real Estate Value Fund
Sabemos Cómo
Cost
According to a study carried out in the area,
commercial values per m2 for warehouses are
around COP $1.750.000.
The services performed by Profesionales de
Bolsa as administrators, structuring agents and
managers of TLC Bogotá allow the m2 for
warehouse construction to be estimated in COP
$1.300.000.

13. Real Estate Value Fund
Sabemos Cómo
13
Reasons to invest in TLC Bogotá

14. Sabemos Cómo
Advantages of investing in
TLC - Bogotá
• Partaking in the whole value chain
• Long term lease contracts
• Purchase of the plot, and construction at cost price
(vertical integration)
• Privileged geographical location with logistic node
• Distribution of income from year 3
• Bogotá has the main functional transport corridors in
the country
• Between 2009 and 2013, the Bogota’s imports have
doubled
• Bogotá generates 10% of the national cargo and
demands 17%
• Roads of access to the main logistics hubs of the
country
• Short distance to main cargo airport of the country

15. Real Estate Value Fund
Sabemos Cómo
Investment in Logistics
• Fundamentals: Warehouses
Bogotá shows a high level of profitability with
regard to big global markets.
• Fundamentals: Offices
Bogotá is amongst the three most profitable
markets of Latin America and the world.
Source:
Colliers.
CAP RATE: is the coefficient obtained by divinding the net income produced between
the value of the property.

16. Sabemos Cómo
Economic Foundations
Bogotá - GDP
• Bogotá is regarded as the metropolis with the
highest contribution to Colombia’s GDP (26%),
which makes it the fundamental core for the
country’s economy
• The Bogotá’s GDP achieved an annually
compound growth rate of 4.6 % in the years
2000-2012.
Source: DANE
Regions'
input
into
national
GDP
(2012)

17. Sabemos Cómo
Economic Foundations
Bogotá – Trade Balance
Source:
DANE
Regarding external trade in Colombia’s trade
balance, Bogotá stands out as one of the main
components of external sales (exports) as well as for
demand of foreign products (imports).
Export wise, keeping in mind the high incidence of
the industrial sector in Bogota’s external sales, it
stands out together with regions with high volumes of
goods exported from diverse economic sectors.
On the other hand, regarding imports, Bogotá
demands close to 50% of the products that enter
the country, showing the Colombian Capital’s
importance to trade.
Regions'
input
into
exports
Regions'
input
into
imports

18. Sabemos Cómo
Economic Foundations
Bogotá – Logistics Hub
Bogotá is the main logistics hub in the center of
the country, with the highest concentration of
consumption and industrial activity.
Its location allows intercommunication with
logistics hubs at the northern part of the country
(Caribbean Coast and border with Venezuela
(Maicao and Cucuta).
As with the hub at Cauca Region and the Pacific
Coast (Buenaventura) and the border with
Ecuador at the south (Ipiales).
Source:
Política
Nacional
Logística.
Ruta
del
Sol

19. Real Estate Value Fund
Sabemos Cómo
At Bogotá, El Dorado Airport is the main cargo hub
in Colombia, with the biggest participation in the
transport of cargo at a national and international
level.
At a international level, it transports more than
80% of the air freight that enters and exits
Colombia.
Bogotá is strategically located at the center of the
continent, with a high frequency of flights to
different locations: Five hours to New York,
Mexico City and Sao Paulo, with an excellent air
connectivity and numerous daily direct flights to
different locations.
Economic Foundations
Bogotá –Air Freight
Source: Aerocivil. Invest in Bogotá
National
Cargo
shipments
International
Cargo
shipments

20. Sabemos Cómo
Among the main entrances and exit corridors for
cargo vehicles in Bogotá, we can highlight 13th
street, “Autopista Norte” and 80 street, which add
up to approximately 74% of vehicle traffic in the
surroundings of the city, reflecting the importance
of the western and northern areas of the city for
cargo transport.
The external boroughs of the city allow the
entrance of more than 19 thousand vehicles in
average, and the exit of more than 18 thousand
cargo vehicles during a working day.
Source: Colfecar - Steer Davies Gleave Study. CPB Calculations
Economic Foundations
Bogotá – Cargo transport by land
Traffic
Distribution
in
Bogotá

21. Real Estate Value Fund
Sabemos Cómo
• In line with a high concentration of the
population, Bogotá has the greatest
workforce of Colombia, with more than 4
million people employed
• This is how a higher population implies,
together with a higher level of income, a
higher purchase power by the inhabitants of
the city, which generates great interest from
companies belonging to different economic
sectors
Source:
DANE
Economic Foundations
Bogotá - Employment
Labor
Force

22. Sabemos Cómo
Among the main specialized segments of the
industry in Bogotá are the following sectors:
• Automotive
• Auto parts
• Pharmaceutical
• Cosmetics
• Plastics
• Chemicals
• Electronics
Source:
DANE.
Secretaría
Distrital
de
Planeación.
Economic Foundations
Bogotá - Industry
Industrial
Production

23. Real Estate Value Fund
Sabemos Cómo
In Bogotá, there are 3 main areas where industry
is concentrated: Fontibón, Puente Aranda and
Kennedy.
There are several problems with regards to these
areas:
• High concentrations of population
• Restricted roads
• Inefficient transport of goods
Source: DANE. Secretaría Distrital de Planeación.
Economic Foundations
Bogotá – Limitedoffer of land
Urban
Industrial
Areas

24. Sabemos Cómo
The industrial areas of Bogotá, among which we
can find high impact industries, are surrounded by
neighborhoods which are:
• Urban centers
• Residential neighborhoods
• Resources hubs
These provides industries with a minimum margin
of expanding infrastructure as well as activities
related to its business areas.
Source:
Secretaría
Distrital
de
Planeación.
Economic Foundations
Bogotá – Industrial Zones in Bogotá

25. Real Estate Value Fund
Sabemos Cómo
Zone 1: Allows the free transit of cargo transport
for 24 hours a day. Includes the “Zona Franca”
(trading area with a special legal regime), El
Dorado Airport, the industrial zones of
Montevideo, Fontibón and Puente Aranda.
Zone 2: Restriction for vehicles with loads higher
than 7 tons. Areas: On the north: Avenida Calle
170; south: Avenida Primero de Mayo; and east:
border of the city.
Zone 3: Restriction for cargo vehicles with 3 or
more axles. Involves the urban area of the city.
The restrictions for load transport in Bogota force
the industries to move outside the city.
Source: Secretaria de Planeación de Bogotá. Cargo Decree 520 of 2013.
Economic Bases
Bogotá. Cargo Transport Regulation

26. Sabemos Cómo
According to the baseline study carried out by
Camacol:
If the intentions of companies are acted upon,
adding the short and medium term (until
Semester I of 2014), we estimate a total
demand of 897.138 mts2.
While considering square meters offered and in
opening, we will have 556.125 mts2 available in
the market.
And thus, there’s an additional demand of
more than 341.000 mts2.
This is for an average warehouse size bigger
than 1.400 mts2.
Economic Bases
Bogotá – Warehouse demand
Source: Camacol.Perspectivasde Corto Plazoen Sector Edificador. I Semester 2013.
Source: DNP
Warehouse
Demand
Warehouse
Supply
m2
m2

27. Sabemos Cómo
Conclusions
Value Chain
Participation in the whole appreciation process,
from the purchase of the land to production of
rent for 22 years.
Warehouse supply deficit
Bogotá and its surroundings have high deficits in
square meters for warehouses.
Location
TLC Bogotá is located in a privileged place, close
to the main exit and access roads of the capital of
the country.
Experience
Profesionales de Bolsa has extensive experience
in PEF management, included Real Estate
Funds.

28. Sabemos Cómo
The authomatic enrollment in the National Registry of Securities
and Issuers of the securities issued by the Private Capital Fund,
according to provisions of article 1.1.2.9. of Resolution 400 of
2005, do not imply certification by the Financial Superintendence
on the Fund´s performance or safety of their investments. The
Financial Superintendence of Colombia warns potential investors
that the Private Capital Fund is a risk poroduct, so, before making
your investment decision it is necessary to carefully read all the
information and make sure about its correct, complete and
adequate understanding”.
“The obligations of the management company of collective portfolio
related to the portfolio management are of means and not of result.
The money delivered by investors to the collective portfolio are not
deposits and do not generate for the management society the
obligations of a depositary institution, are not covered by the
deposit insurance of the Guarantee Fund of Financial Institutions
(FOGAFIN), or by any other scheme of this nature. The collective
portfolio investment is subject to the investment risks derived from
the evolution of the prices of assets comprising the portfolio of the
respective collectiveportfolio.”
Medellín
Calle 2 No 20-48
PBX: (574) 215 63 00
Fax: (574) 317 34 94
Barranquilla
Cra. 53 No.82-86 Oficina 602
PBX: (575) 356 91 44
Fax: (575) 356 87 71
Cali
Calle 25N No. 6N-67
PBX: (572) 668 8100
Fax: (572) 668 70 90
Pereira
Avda. Circunvalar No. 8B-51 Of 302
PBX: (576) 333 22 95
Fax: (576) 333 22 86
Bogotá
Calle 93B No. 12-18 Piso 2,4 y 5
PBX: (571) 646 33 30
Fax: (571) 635 88 78
Warnings:
28