Fibra Prologis adds 14 properties to its industrial portfolio for $160 million dollars

Fibra Prologis has acquired a portfolio of 14 industrial buildings for $160 million, adding 2.4 million square feet of industrial space to its property.
The acquisition strengthens Fibra Prologis' presence in Tijuana and brings significant value to its operational portfolio. The transaction was carried out in partnership with Artha Capital's industrial platform, Frontier.

The acquisition was carried out in collaboration with Artha Capital's industrial platform, Frontier. Photo: Prologis

12/21/2021

FIBRA Prologis has announced the acquisition of a portfolio of 14 industrial buildings for an investment of approximately $160 million, including closing costs. This transaction adds 2.4 million square feet of industrial space and expansion land to the Real Estate Investment Trust's (REIT) property. More than 70% of the buildings are located in Tijuana, with the rest in the Bajio region. The properties are fully leased in dollars to a diverse and high-quality customer base.

Luis Gutierrez, CEO of Prologis Mexico, highlighted that this acquisition increases Fibra Prologis' presence in Tijuana, which is a desirable market for the company. The successful closing with Artha Capital is expected to bring significant value creation to their operational portfolio. As of September 30, 2021, the REIT consisted of 208 logistics and manufacturing facilities in six industrial markets in Mexico, totaling 40.6 million square feet (3.8 million square meters) of gross leasable area.

The acquisition of the 14 buildings was made in partnership with Artha Capital's industrial platform Frontier. This transaction concludes the full cycle of the Frontier I industrial portfolio. The assets were sold to Fibra Prologis due to their fast execution capabilities and strong business partnership. Patricio Gutierrez Tommasi, CEO of Frontier Industrial, emphasized their commitment to a strategic growth plan and their investors' satisfaction with this transaction. The CK15 CKD investment vehicle, funded by local pension funds (AFORES), was involved in this investment.

Read the full article (in Spanish).

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