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Nota Destacada

FIBRA Prologis acquires 8 Class A properties

FIBRA Prologis reported that it acquired eight Class A properties from the US company Prologis.

During the first quarter of the year, FIBRA Prologis completed a rights offering by issuing 200 million new CBFIs to its existing holders. More than 90% participated and the collection totaled 8.3 billion.

In early April, he used those resources to acquire eight Class A properties totaling 4 million square feet, from his sponsor, Prologis.

The properties, collectively known as Prologis Park Grande, are fully leased to clients from various consumer-related industries.

Operating results

«It is important to note that this acquisition is in line with our investment strategy to expand our concentration in Mexico City, consumption and electronic commerce,» said Luis Gutiérrez, CEO of FIBRA Pologis.

The operating environment of the logistics sector entered this period of uncertainty in a very different position than previous cycles. The market vacancy rate for modern wineries in its six markets is below 4%, led by border markets with less than 2 percent.

FIBRA Prologis

Demand was healthy in the first quarter, with 4.6 million square feet of net absorption, and moderately higher than properties completed by 4.2 million square feet.

The clients’ activity was led by e-commerce companies in the consumer-oriented markets of Mexico City, Guadalajara and Monterrey and by the “nearshoring” activity in their border markets in Tijuana, Ciudad Juárez and Reynosa.

Since the end of the quarter, and due to the COVID-19 pandemic, customer interest in short-term leases has increased in Mexico City and on the border.

La owned 191 buildings for logistics and manufacturing use at the end of 2019, strategically located in six industrial markets in Mexico.

With this, it adds a total of 34.9 million square feet (3.2 million square meters) of Gross Profitable Area (ABR).

FIBRA Prologis is one of the leading trusts in investment and management of class A industrial properties in Mexico.

 

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