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FIBRA Prologis Acquires Premier Logisitics Park in Mexico City

FIBRA Prologis Acquires Premier Logisitics Park in Mexico City

PR Newswire

MEXICO CITY, April 6, 2020 /PRNewswire/ -- FIBRA Prologis (BMV: FIBRAPL 14), a leading owner and operator of Class-A logistics real estate in Mexico, today announced the acquisition of eight properties totaling 3,989,725 square feet of Class-A logisitic space in Mexico City, from its sponsor, Prologis, for a total investment of US$353 million, including closing costs but excluding VAT.

Prologis Park Grande, which is 100 percent leased, consists of:



Net Rentable Area

Customer

Grande 1

996,897

Amazon, Inc.

Grande 2

1,053,173

Mercado Libre

Grande 3

312,000

Geodis

Grande 4

255,840

Diageo

Grande 5

408,315

Hasbro / Ryder

Grande 6

312,584

Mary Kay / Truper / Geodis

Grande 7

283,360

Goncalves

Grande 8

367,556

VF Corporation

"Following a successful rights offering, we have further improved our portfolio with the acquisition of a state-of-the-art logistics park that's fully leased to high-quality tenants across diverse industries" said Luis Gutierrez, CEO, Prologis Mexico. "We have increased our presence in the Mexico City market while deepening relationships with key customers and adding several new ones."     

With this acquisition, FIBRA Prologis' gross leasable area increases to 38.9 million square feet and its concentration to e-commerce increases from 5 to 9 percent.

ABOUT FIBRA PROLOGIS

FIBRA Prologis is a leading owner and operator of Class-A industrial real estate in Mexico. As of December 31, 2019, FIBRA Prologis was comprised of 191 logistics and manufacturing facilities in six industrial markets in Mexico totaling 34.9 million square feet (3.2 million square meters) of gross leasable area.

FORWARD-LOOKING STATEMENTS

The statements in this release that are not historical facts are forward-looking statements. These forward-looking statements are based on current expectations, estimates and projections about the industry and markets in which FIBRA Prologis operates, management's beliefs and assumptions made by management.  Such statements involve uncertainties that could significantly impact FIBRA Prologis financial results. Words such as "expects," "anticipates," "intends," "plans," "believes," "seeks," "estimates," variations of such words and similar expressions are intended to identify such forward-looking statements, which generally are not historical in nature.  All statements that address operating performance, events or developments that we expect or anticipate will occur in the future — including statements relating to rent and occupancy growth, acquisition activity, development activity, disposition activity, general conditions in the geographic areas where we operate, our debt and financial position, are forward-looking statements. These statements are not guarantees of future performance and involve certain risks, uncertainties and assumptions that are difficult to predict. Although we believe the expectations reflected in any forward-looking statements are based on reasonable assumptions, we can give no assurance that our expectations will be attained and therefore, actual outcomes and results may differ materially from what is expressed or forecasted in such forward-looking statements. Some of the factors that may affect outcomes and results include, but are not limited to: (i) national, international, regional and local economic climates, (ii) changes in financial markets, interest rates and foreign currency exchange rates, (iii) increased or unanticipated competition for our properties, (iv) risks associated with acquisitions, dispositions and development of properties, (v) maintenance of real estate investment trust ("FIBRA") status and tax structuring, (vi) availability of financing and capital, the levels of debt that we maintain and our credit ratings, (vii) risks related to our investments (viii) environmental uncertainties, including risks of natural disasters, (ix) risks related to the current coronavirus pandemic, and (x) those additional factors discussed in reports filed with the "Comisión Nacional Bancaria y de Valores" and  the Mexican Stock Exchange by FIBRA Prologis under the heading "Risk Factors." FIBRA Prologis undertakes no duty to update any forward-looking statements appearing in this release.

Non-Solicitation - Any securities discussed herein or in the accompanying presentations, if any, have not been registered under the Securities Act of 1933 or the securities laws of any state and may not be offered or sold in the United States absent registration or an applicable exemption from the registration requirements under the Securities Act and any applicable state securities laws. Any such announcement does not constitute an offer to sell or the solicitation of an offer to buy the securities discussed herein or in the presentations, if and as applicable.

(PRNewsfoto/FIBRA Prologis)

 

Cision View original content to download multimedia:http://www.prnewswire.com/news-releases/fibra-prologis-acquires-premier-logisitics-park-in-mexico-city-301036171.html

SOURCE FIBRA Prologis



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