CCLA and Bancolombia announced that they have entered into a joint venture to develop and operate purpose-built, for-rent multi-family buildings across Colombia’s largest cities, starting with Bogota. The JV aims to develop a portfolio of mid to high-rise buildings, with the objective of developing 5,000 units in the next five years. Additionally, this JV positions CCLA and Bancolombia among the leading institutional multifamily investors, developers and operators in the country.