"The location of this project is unique with direct access to mass transit. The proposed building, once completed, will offer the highest quality standards for an AAA office building in the city," Enrique Manzanilla, portfolio manager of PREI Latin America, says in a press release about the promissory acquisition agreement. The project at Apoquindo 4501 consists of 17,965 m2 [58,940 sf] of trophy office space and 3,500 m2 [11,482 sf] of retail space, rising at the epicenter of the city's financial district and alongside retail, restaurants and hotels. Apoquindo Avenue is the heart of the city's commercial district, dubbed "Sanhattan" by locals as a testament to its importance in the region.

Manzanilla says the project is going up in a submarket with low vacancy and high demand. The PREI team is betting not only on the building's location, but its trophy design to attract key tenants. Las Condes is populated by upper-mid to high-income families.

The Parsippany, NJ-based PREI's Latin American team has acquired more than 200 properties in less than five years in the region. The company has 88 professionals working the market from offices in Mexico City, Rio de Janeiro and Miami.