PSP Investments has sold its minority stake in Arkadia Shopping Mall
PSP Investments has sold its minority stake in Arkadia Shopping Mall to Spectrum, a real estate private equity firm with headquarters in Guatemala, and Yellowstone Capital Partners (YCP), a real estate private equity firm.
Arkadia is a super-regional shopping center with an excellent location in Medellin. This flagship shopping center has a gross leasable area of 50,859 m2, 202 business units and more than 1,800 parking spaces.
Spectrum specializes in the development, marketing and operation of real estate projects in Guatemala, Honduras, Nicaragua and Colombia. It seeks to invest in the retail, housing and office segments.
YCP is a Pan-American Colombia and US-based private equity real estate firm with US$500 million of capital under management. YCP’s investment strategy is focused on purchasing land, developing and operating mixed-use and large-scale residential projects targeting Colombia’s emerging working and middle-class.
The Public Sector Pension Investment Board (PSP Investments) is one of Canada’s largest pension investment managers. It manages a diversified global portfolio composed of investments in public financial markets, private equity, real estate, infrastructure, natural resources and private debt. Established in 1999, PSP Investments manages net contributions to the pension funds of the Federal Public Service, the Canadian Forces, the Royal Canadian Mounted Police and the Reserve Force. Headquartered in Ottawa, PSP Investments has its principal business office in Montreal and offices in New York, London and Hong Kong.
Oaklins’ team in Colombia acted as the exclusive advisor to the seller in this transaction.


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