Economy

Bogotá, Colombia – A group of co-owners of the Torre Barcelona, a 28-story residential complex in central Bogotá, are preparing criminal charges against Manuel “Manel” Grau Pujadas, a Catalan businessman with close ties to Verónica Alcocer, wife of Colombian President Gustavo Petro, according to reports surfacing on February 14, 2026. The co-owners allege financial irregularities and a flawed contractual structure within the building’s administration.

The Torre Barcelona, designed as an investment opportunity offering apartments for student rentals and hostel-style accommodations, has turn into the focal point of a legal dispute between the property owners and the building’s operating company, initially linked to Grau’s business network. The project’s origins trace back to Grau, who, according to sources familiar with the development, first expressed interest in the land where the tower now stands.

Construction was undertaken by Grupo Solerium, while Grau’s companies managed the sale of the residential units, initially priced around 140 million pesos. Xavier Vendrell, another Catalan businessman, was as well involved in the early stages of the project before selling his stake. Sales began around 2016, and the building was completed and opened for operation in 2020.

A fiduciary agreement was established to manage income and distribute profits to investors. However, disagreements arose over financial management and access to information. Represented by the firm Defensa Inmobiliaria, which represents owners of over 220 units, the co-owners claim the projected returns have not been realized. While promotional materials promised an average annual yield of approximately 7.92% over ten years, investors report receiving around 3%.

Despite annual sales reportedly reaching 10 billion pesos, the distributed results have not aligned with projections, according to a spokesperson for Defensa Inmobiliaria. The co-owners have filed actions with the Financial Superintendency against Credicorp Capital Fiduciaria, the fiduciary entity, the operating company, and the promoting and construction firms. They allege the fiduciary contract was established without their full participation and that there were obstructions to information and potential irregularities in the allocation of funds. An assembly of co-owners held on May 24, 2025, saw 82% of attendees conclude that the operator had violated their right to inspection.

The investors are preparing individual and collective complaints alleging offenses such as fraud, disloyal management, breach of trust, and procedural fraud. They contend that the core of their grievance isn’t solely the low profitability but the alleged construction of a corporate and contractual framework designed to benefit specific actors at the expense of the property owners.

A separate issue involves the original family owners of the land on which the tower was built. A disciplinary complaint filed with the Council Sectional of the Judiciary alleges that their own lawyers may have reached an unfavorable agreement that benefited the investor. The complaint claims Grau showed “excessive interest” in the land and that the negotiated terms were disadvantageous to the original owners. A payment of 650 million pesos to the opposing counsel’s representatives is also under review.

The Spot Centro S. A. S., the operating company, maintains a different account, asserting that the building was subjected to a “forced takeover” by the co-owners on January 8, 2026, effectively removing The Spot from administration. They claim this action impacted 143 students residing in the building and created uncertainty regarding their lease agreements. The Spot also alleges that its staff were treated improperly and access was restricted to residents. They have filed a police complaint and a criminal denunciation regarding these events, and claim they attempted to negotiate a departure but were unsuccessful. Regarding profitability concerns, sources within the operator state that while some periods saw returns below expectations, investors did receive returns close to the promised 7% in other periods. They also assert that Grau is no longer directly involved in the Bogotá operation.

The case against Grau emerges as he is already under public scrutiny for his association with Verónica Alcocer and his presence in reports concerning her stay in Sweden. His name is now linked to a real estate dispute that could escalate into criminal proceedings. As of February 14, 2026, Manuel Grau had not issued a statement regarding the allegations.