MEXICO CITY, Feb. 22, 2021 /PRNewswire/ — FIBRA Prologis (BMV: FIBRAPL14), a number one proprietor and operator of Class-A industrial actual property in Mexico, at present introduced the completion of two asset recycling transactions. Within the Mexico Metropolis submarket of Toluca, the corporate acquired three properties totaling 258,912 sq. toes of business area for a complete funding of US$18.6 million, together with closing and leasing prices. The properties have been acquired from a third-party and are proximate to Toluca Worldwide Airport and Prologis Park Toluca I. This acquisition enhances the corporate’s current portfolio in Toluca, which is absolutely occupied and has seen sturdy demand. Whereas at present vacant, these three properties are anticipated to be leased this 12 months.
Individually, the corporate bought three buildings in Guadalajara totaling 493,400 sq. toes for $25.1 million to a number one institutional investor and developer. The properties are positioned within the El Salto submarket and are at present 69% occupied.
“By way of our asset recycling program, we have been capable of strengthen our portfolio in Toluca whereas reducing our publicity to Guadalajara, which has seen higher provide over the past 12 months,” mentioned Luis Gutierrez, CEO, Prologis Property Mexico. “Our crew of actual property professionals did a terrific job with these transactions; creating worth for our certificates holders.”
ABOUT FIBRA PROLOGIS
FIBRA Prologis is a number one proprietor and operator of Class-A industrial actual property in Mexico. As of December 31, 2020, FIBRA Prologis was comprised of 205 logistics and manufacturing amenities in six industrial markets in Mexico totaling 40.2 million sq. toes (3.7 million sq. meters) of gross leasable space.
The statements on this launch that aren’t historic details are forward-looking statements. These forward-looking statements are based mostly on present expectations, estimates and projections concerning the trade and markets through which FIBRA Prologis operates, administration’s beliefs and assumptions made by administration. Such statements contain uncertainties that might considerably affect FIBRA Prologis monetary outcomes. Phrases akin to “expects,” “anticipates,” “intends,” “plans,” “believes,” “seeks,” “estimates,” variations of such phrases and related expressions are meant to establish such forward-looking statements, which usually should not historic in nature. All statements that handle working efficiency, occasions or developments that we anticipate or anticipate will happen sooner or later — together with statements referring to lease and occupancy progress, acquisition exercise, improvement exercise, disposition exercise, basic circumstances within the geographic areas the place we function, our debt and monetary place, are forward-looking statements. These statements should not ensures of future efficiency and contain sure dangers, uncertainties and assumptions which might be tough to foretell. Though we imagine the expectations mirrored in any forward-looking statements are based mostly on cheap assumptions, we may give no assurance that our expectations will probably be attained and subsequently, precise outcomes and outcomes could differ materially from what’s expressed or forecasted in such forward-looking statements. Among the components that will have an effect on outcomes and outcomes embody, however should not restricted to: (i) nationwide, worldwide, regional and native financial climates, (ii) adjustments in monetary markets, rates of interest and overseas forex trade charges, (iii) elevated or unanticipated competitors for our properties, (iv) dangers related to acquisitions, tendencies and improvement of properties, (v) upkeep of actual property funding belief (“FIBRA”) standing and tax structuring, (vi) availability of financing and capital, the degrees of debt that we keep and our credit score rankings, (vii) dangers associated to our investments (viii) environmental uncertainties, together with dangers of pure disasters, (ix) dangers associated to the coronavirus pandemic, and (x) these extra components mentioned in reviews filed with the “Comisión Nacional Bancaria y de Valores” and the Mexican Inventory Trade by FIBRA Prologis below the heading “Danger Components.” FIBRA Prologis undertakes no obligation to replace any forward-looking statements showing on this launch.
Non-Solicitation – Any securities mentioned herein or within the accompanying displays, if any, haven’t been registered below the Securities Act of 1933 or the securities legal guidelines of any state and is probably not supplied or bought in the US absent registration or an relevant exemption from the registration necessities below the Securities Act and any relevant state securities legal guidelines. Any such announcement doesn’t represent a suggestion to promote or the solicitation of a suggestion to purchase the securities mentioned herein or within the displays, if and as relevant.
SOURCE FIBRA Prologis
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