FIBRA Prologis and Artha Capital, through Frontier Industrial, Close a Sale and Purchase Agreement
- FIBRA Prologis, a leader in industrial real estate in Mexico, has acquired a portfolio of 14 industrial buildings for approximately US$160 million.
FIBRA Prologis (BMV: FIBRAPL14), one of the leading owners and operators of Class A industrial real estate in Mexico, and Artha Capital, through its industrial platform Frontier and its CKD CK15 (BMV: ARTH4CK-15), announced today the acquisition by FIBRA Prologis of an industrial portfolio comprised of 14 buildings, with 2.4 million square feet of industrial space and expansion land, for an investment of approximately US$160 million, including closing costs.
Over 70% of the buildings are located in Tijuana and the rest in the Bajío region, and they are fully leased in US dollars to a diversified and high-quality customer base.
"I am proud of our team for successfully completing this transaction with Artha Capital. We believe this acquisition will bring significant value to our operations portfolio," said Luis Gutiérrez, CEO of Prologis Mexico.
"With these properties, we are increasing our presence primarily in Tijuana, a desirable market, strengthening our position as one of the leaders in the industrial real estate business in Mexico, deepening relationships with key customers, and adding several new ones." "With this asset sale to FIBRA Prologis, we have successfully completed the full cycle of the Frontier I industrial portfolio, one of the investments of our CKD CK15, an investment vehicle funded through local pension funds (AFORES).
We have been able to take advantage of the market dynamics for our exit strategy," said German Ahumada Alduncin, Founding Partner of Artha Capital. In addition, Patricio Gutiérrez Tommasi, CEO of Frontier Industrial, added: "We selected FIBRA Prologis as the buyer due to their ability to execute quickly and because they are an excellent business partner. This transaction further consolidates Frontier Industrial as a major player in the industrial sector in Mexico and reaffirms our commitment to our investors to continue with a strategic growth plan, while supporting the country's economic development."
