Some long-term readers may remember my article in 2012 about my first trip down south where I visited Cali, Popayan, Pasto and Ipiales. At that time, I was in more of the central and south parts of Cali and missed visiting the NW part called Oeste. I was not overly impressed at that time with the Cali neighborhoods I had visited as they were a bit warm and dusty and not enough trees to my liking.
However just over two years ago I visited Cali for a second time to visit Patrick Spanfelner, a Danish American married to a Colombian, who was doing some interesting work in local real estate. This time I stayed in Granada, one of the barrios (neighborhoods) in the Oeste (NW) part of Cali. Some of the other Oeste barrios include El Peñon, San Antonio, Santa Teresita, Normandia and Centenario. This is when I discovered that Oeste was much like some parts of Medellin comparable to Provenza and Laureles. Lots of trees and parks, shopping, restaurants, bars, clubs and cooler for Cali, as a river runs through this area, and it gets a nice afternoon breeze by being nestled up at the base of the Andes. These barrios are Stratus 6, like El Poblado, safe and secure, but the real estate is 30-40% less expensive while rental rates are only about 10-15% less than Medellin. This is for the best real estate in Cali and now Cali has the fastest growing tourism market for any Colombian major city. Plus, Cali has more multi-nationals than Medellin and a number of excellent five-star hotels. All in all these numbers and trends lend themselves well to providing superior commercial real estate investment returns.
Thus, we decided to partner with Patrick and open our Cali office where we now have successfully completed three projects, Granada Suites, Villas del Peñon and a Cali Turn-key building in El Peñon. All three are fully funded, just opened for business and are getting rave rental reviews and occupancies. Patrick and his team are doing a great job.
My third trip to Cali was a year ago when I went to meet the Cody Shirk Explorer Group. At that time Cody was launching his quarterly visit to worldwide locations that presented exceptional investment opportunities and he picked Cali for his first Explorer venture. I went to visit them to see what they were all about. There were about 30 successful Gen Xers and Millennials in attendance from all around the world. Not only was the group bright and entertaining but several of them invested in our Cali TIPS and PREPS and ten of them invested in our current Green Coffee Company project. I continued to be impressed with Cali growth, resurgence, lifestyle and positive tourism trends.
I just returned from Cali on June 23-26 for my fourth visit and in some ways, most memorable. I got to visit a friends penthouse with a 500 bottle wine collection, eat at my new favorite restaurant in Colombia, hang out with the FAR management team and visit some local sites.
I stayed at our Villas del Peñon penthouse and was treated to world class lodging and five-star service (with three-star rental rates). I got a chance to visit our Granada Suites as well as our TIP building, our FAR office and our newest and latest Cali project, the Cali River Suites.
Villas del Peñon penthouse where I stayed
Granada Suites and Cali FAR Office
There were several nice surprises during my fourth trip to Cali:
I ate at two restaurants that were as good or better than any I have eaten at in Medellin, and would rival Bogota, the El Escudo del Quijote (in El Peñon) and Antigua Contemporanea (in San Antonio) restaurants.
El Escudo del Quijote (the dish on the right is a grouper set in a bed of risotto with a caramelized blue cheese sauce – out of this world)
Antigua Contemporánea (the chicken dish had an incredible maracuja sauce)
The night life is more to my style with some club concepts that do not exist in Medellin like the huge luxuriant La Cantina 15 Mexican restaurant and night club and Bourbon Street, both in Granada.
La Cantina 15 – great Mexican food, super margaritas and the best Mariachi and Salsa bands that I have ever heard. Plus, their signature giant pulpo (octopus) platter.
Our newest project, Cali River Suites (a 23 room hotel conversion into aparta-suites), which I think will end up being our most lucrative Cali project and is structured to deliver even greater returns than our other three Cali projects.
Cali River Suites street view, building view and the fourth highest rated restaurant in Cali (out of 800), La Cocotte, a half block away. And within two blocks there is a nice upscale gym, a shopping mall and a highly rated hospital.
Cali River Suites interior that will be remodeled to our top of the top furnished rental design standards.
If you are in the market today you may wish to consider the Cali River Suites which is designed to provide an average ROI of 9% (dividends to be paid quarterly) and an IRR of 13.4%.
Funding will be conveniently paid in USD and all dividends and eventual profits will be paid out in USD as well. To see the Cali River Suites marketing deck please click here. After reviewing let me know if you would like to receive the Offering Docs and PPM and I will send them to you. We expect brisk sales for this project so do not delay if this piques your investment interest.
I hope you have enjoyed my “fourth trip down south” and I strongly encourage you to try to squeeze in a Cali visit during your next trip to Colombia. Cali is a 55-minute flight from Medellin and the round trip is about $125-150 USD. If you do go to Cali, and stay at one of our PREPS or TIPS, then tell Patrick that I sent you and he will give you a 10% rental discount for your stay.
If any of you would like to discuss the Cali River Suites, which is just now being offered to our client base, then please email me or call me at 303 3938872 ext 129 or by WhatsApp at +57 314 863 0621.
As always, I take calls 24/7 and look forward to hearing from you and hope to see you someday soon in Medellin and/or Cali.
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