Terrafina Strengthens its Portfolio with Strategic Industrial Property Acquisitions

For the second consecutive quarter, FIBRA TERRAFINA has disclosed significant acquisitions totaling more than 240,000 square meters of gross leasable area in the past six months, establishing itself as a pivotal player in Mexico's industrial real estate market. 

The first of these acquisitions took place in August 2023, where Terrafina revealed the purchase of two portfolios totaling over 195,000 square meters of constructed area. These portfolios are spread across 11 properties in the markets of Tijuana and Mexico City, particularly in the Toluca-Lerma submarket. The transaction, the first carried out through the sidecar, was financed through a combination of retained AFFO and debt, maintaining a target leverage level of 35% LTV. 

Both portfolios, developed and stabilized by experienced funds Artha Capital and MEOR, are fully occupied at 100%. The main industries of the tenants include manufacturing, consumer goods, Technology, Advertising, Media, and Information companies (TAMI), as well as healthcare, according to data from SiiLA Market Analytics. 

Terrafina's expansion does not stop there, as in January 2024, they announced a new acquisition in the Ciénega de Flores submarket, part of the industrial market in Monterrey. The property, Nexxus ADN 2 - GAIA, with over 51,000 square meters of gross leasable area, was developed by the Real Estate Solutions division of DHL, a logistics industry leader. This property is fully occupied at 100% by the logistics company itself.