MEXICO CITY, Nov. 21, 2023 /PRNewswire/ — FIBRA Prologis, a prominent owner and operator of high-quality industrial real estate in Mexico, has completed the acquisition of an extensive industrial park located in Monterrey. This transaction, valued at US$32.7 million, includes three buildings and a reserve land, further strengthening FIBRA Prologis’ portfolio.
The acquired industrial park spans an impressive 439,000 square feet of industrial space and is fully leased in US dollars. By expanding its assets through strategic acquisitions and partnerships with both its sponsor and third parties, FIBRA Prologis continues to execute its growth strategy in one of Mexico’s most vibrant markets. This market is particularly buoyant due to the increasing trend of nearshoring, which has surged in recent years.
Luis Gutiérrez, CEO of Prologis Mexico, expressed the company’s dedication to driving value for its investors, stating, “We remain committed to delivering shareholder value by actively pursuing opportunities in our sponsor’s assets and from third-party sources. This acquisition further enhances our presence in a thriving market in Mexico.”
ABOUT FIBRA PROLOGIS
FIBRA Prologis stands as a leading owner and operator of best-in-class industrial real estate throughout Mexico. With an impressive portfolio of 228 logistics and manufacturing facilities across six industrial markets in Mexico, FIBRA Prologis boasts a total gross leasable area of 44.2 million square feet (4.1 million square meters) as of September 2023.
While FIBRA Prologis strives to provide accurate forward-looking statements, it’s important to note that these statements are subject to uncertainties and risks that could impact the company’s financial results. These forward-looking statements are based on current expectations, estimates, and projections about the industry and markets in which FIBRA Prologis operates. Factors that may affect outcomes and results include economic climates at national, international, regional, and local levels, changes in financial markets, increased competition, and the risks associated with acquisitions, development, and disposals.
Q: What did FIBRA Prologis acquire in Monterrey?
A: FIBRA Prologis acquired a large industrial park consisting of three buildings and a reserve land.
Q: How much did the acquisition cost?
A: The acquisition was valued at US$32.7 million, including closing costs.
Q: How much industrial space does the acquired park comprise?
A: The industrial park spans 439,000 square feet of industrial space.
Q: What currency are the leases for this industrial park in?
A: The leases for this industrial park are in US dollars.