Terrafina, an industrial real estate investment trust, announced a new investment of 47 million dollars to develop three class A properties, located in the states of Chihuahua and Nuevo León.

With these developments, the real estate company adds 74.3 thousand square meters to its asset portfolio and will generate 4.5 million dollars of annual Net Operating Income.

Through the notice sent to the Mexican Stock Exchange (BMV), Terrafina explained that one of the projects is the development of two "built-to-suit" buildings (made to measure) that comprise a total of 60.3 thousand meters squares of gross leasable area (GRA) and which is located in Ciudad Juárez, Chihuahua. The buildings will be developed for a tenant with a 10-year lease.

Check here: Fibra Prologis EBITDA grows 12.2% in 1Q22

The second project consists of a 14.2 thousand square meter building located in Apodaca, Nuevo León.

These properties will be built in strategic land reserves for your business, which are certified under LEED (Leadership in Energy and Environmental Design) standards and, at the same time, aligned with the environmental, social and government strategy. corporate (ESG).

"We will continue to increase our presence in high-growth markets and unlock value for our investors by pre-leasing contracts to multinational and nearshoring clients in Mexico," the real estate trust said in a statement.

Of interest: Industrial construction in Mexico reports historical figures, totaling 4.7 million m²

Alberto Chretin, CEO of Terrafina, commented that they are making progress with “the execution of the growth and asset recycling strategy. With the key support of our advisor PGIM Real Estate, we will continue to take advantage of the opportunities that arise from a strong and growing industrial real estate market in Mexico”, he said.

He assured that they will continue to advance with the ESG strategy as they develop more green buildings, focusing on the generation of value for all their stakeholders.

Terrafina owns 278 properties, where there are a total of 273 industrial buildings, with a total of approximately 38.6 million square feet of GLA and five land reserves, designed to preserve the organic growth capacity of the portfolio.

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