Terrafina, a real estate trust that invests in properties for industrial and logistics use, has allocated an investment of 43.5 million dollars in two new projects that focus on serving the growth of the logistics services and electronic commerce market.

The firm estimates that these developments will be completed between the months of August and September and will allow it to obtain around 4.1 million dollars in net operating income (NOI) per year.

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They began with the construction of a property of 32,887 square meters, which is estimated to be rented to a company that operates in the electronic commerce sector.

In addition to this, the signing of a contract for an additional 18 thousand 580 square meters for a packaging company has been agreed.

Terrafina currently has 274 properties that are occupied by 287 tenants. Of the total portfolio, 74.8% of the properties are leased to companies in the manufacturing sector, while 25.2% to companies in the logistics and distribution segment.

Terrafina seeks to finance its growth by reducing distributions and recycling capital, with the aim of not diluting the holders with a capital issue in the short term, said Armando Rodríguez, director of the analysis firm Signum Research.

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During the second quarter of the year, the company completed the sale of a plot of land adjacent to a property in Hermosillo, Sonora, equivalent to 62.9 thousand square meters for a total of 2.5 million dollars, being a transaction with which it seeks to reduce its exposure in non-strategic markets.

He added that the industrial sector has been the most resilient during the Covid-19 pandemic, due to changes in the population's consumption habits, resulting in a significant increase in demand for real estate focused on e-commerce, shopping centers. distribution and logistics real estate.

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Original note