Ospinas y Cia S.A. and Pegasus Group Initiate Strategic Alliance

BOGOTA, Colombia, Nov. 29, 2011 /PRNewswire/ -- Ospinas y Cia. and Pegasus Group formalized their partnership with the establishment of the largest platform for real estate investment in Colombia, in support of the country's progress and to highlight key opportunities in the housing market.

This alliance will create a new integrated model of operation that will revolutionize the real estate industry in Colombia, and will facilitate foreign investment in Colombia's real estate market. Ospinas, as the developer and real estate administrator, and Pegasus Group, as the manager of the investment platform, this strategic partnership will unite the core strengths of both organizations in the development and management of assets in the real estate sector.

Pegasus Group, an Argentinean private equity investment firm with ties to several Latin American countries, considers this partnership as a strategic step in expanding the company's footprint, and chose the Colombian market for its clear potential and particular attractiveness within the region.

"For Ospinas y Cia S.A. this is an important alliance that will establish our leadership in the real estate business and development, not only on shopping malls, but also in offices, retail and logistics, among others within the Colombian marketplace. Also, our integrated platform will grant local and foreign investors new investing opportunities. Each day we strive to bring new models and international standards that will elevate Colombia as a leader within this sector," said Andres Arango, President of Ospinas y Cia S.A.

Mario Quintana, Chairman of Pegasus, said "For Pegasus Group it is an honor to enter the Colombian market with a firm that has the history and recognition of Ospinas.  With Ospinas, we not only share the same vision of long-term business, but also the highest professional and ethical standards necessary to guarantee the success of a new partnership such as this. For our Group, which has more than a decade of experience in managing investments in the retail, technology, financial services, agribusiness and real estate sectors, this means the opportunity to continue the process of regionalization. We anticipate the Colombian market will be the main focus of the Group's growth for the coming years."

The Pegasus Group, as an Argentinean private equity investment firm, will leverage its access to international resources, and its proven management model to administrate under the highest international standards of professionalism and transparency, the capital of local and foreign investors and obtain highly attractive investment returns.

For Ospinas and Co., with almost 80 years of experience in the Colombian real estate market development, will provide the investment platform its knowledge, experience, regional footprint and a portfolio of projects and attractive opportunities in the Colombian market.

The new platform will focus on assembling a portfolio for rental properties seeking to maximize the generation capital and regular flows with the real estate appreciation assets. This portfolio will ascertain the purchase of properties as well as new developments of malls, offices, logistics, hotels and housing, contributing to the development and progress of Colombia.

This partnership was initiated because of the Colombian market is attractive as a foreign investment and the interest of Pegasus Group and Ospinas to contribute to the country's economy.

About Pegasus
Pegasus Group owns companies such as Farmacity, Freddo, among others and has successfully developed a platform for real estate investment in Argentina with more than U.S. $200 million invested in office buildings, the second largest shopping center the country and a residential project. In Colombia will be working hand in hand with Ospinas y Cia., large-scale projects which will initiate in the coming months.

For over a decade, Pegasus Group has developed expertise as one of the leading investment professional managers in Latin America. Its companies together have annual revenues exceeding $ 800 million and employ more than 6,000 people in sectors such as retail, technology, financial services, agribusiness and real estate. Their companies have a presence in Argentina, Brazil, Uruguay, Paraguay, Bolivia, Mexico and the United States.

About Ospinas
Ospinas y Cia S.A. is a pioneer in real estate company that proposes a positive transformation for the development of major projects in Colombia. Currently, through this new investment platform that will begin with gradual implementation of the model lease of commercial property, as is done in the rest of the world, will place Colombia as one of the few cutting edge countries that offer this.

Ospinas y Cia S.A. formalized earlier this year another alliance with the recognized international firm Hospitality Investors Group, which will incorporate into the new investment platform to venture into the tourism sector, where anticipates and important projects in Cartagena and Bogota.

SOURCE Ospinas and Co.