Grupo Exito

Challenge 

In 2016, the CBRE Valuation & Advisory Division began the process of valuation of investment real estate assets for Grupo Éxito (AESA), the largest retail company in Colombia. The portfolio valued by CBRE consists of more than 30 assets which represent its real estate investment portfolio. In this portfolio there are lands with significant development potential, Retail, Shopping Malls in operation and projects of Retail and mixed uses under construction. 

The challenge is based on the need to have robust and accurate valuations of their properties and especially of their Shopping Malls portfolio (known as Viva Malls), these assets would become part of an administration trust with a key company in the Colombian financial sector 

Solution

To give a precise response to the client's needs, the Valuation & Advisory team designed a plan with an approximate duration of 4 months to develop the following stages:

• A detailed process of economic research and the real estate market where the properties are located.
• Property inspection where the physical condition, occupation and tenants detailed by the client were confirmed. With the visit it was possible to understand the virtues and shortcomings of the assets and the socio-economic context where they are located.
• Exclusive dedication of a team member with the client to emphasize and coordinate delivery issues and review of the information with assumptions and partial conclusions of the valuation process.
• Delivery of valuation reports in two stages: The first where you could receive a feedback from the client regarding issues of special attention and a second where the final values of the portfolio were delivered.

At the end of the valuation process, the client was satisfied with the delivery times and the professionalism of the team and to this day, CBRE VAS remains its reference consulting team for real estate projects.