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FIBRA Prologis, a leading owner and operator of Class-A industrial real estate in Mexico, and Artha Capital, through its Frontier Industrial Platform and its CKD CK15 , announced today the acquisition by FIBRA Prologis of an industrial portfolio comprised of 14 buildings, with 2.4 million square feet of industrial space and expansion land, for an investment of approximately US$160 million, including closing costs. More than 70% of the buildings are located in Tijuana and the rest in the Bajio region, and they are fully leased in USD to a diversified and high-quality customer base.
“I am proud of our team being successful and achieving this closing with Artha Capital. We believe that this acquisition will bring significant value creation to our operating portfolio,” said Luis Gutiérrez, CEO, Prologis Mexico. “With these properties we are increasing our presence mainly in Tijuana, a desirable market, strengthening our position as one of the leaders in the industrial real estate business in Mexico, and deepening relationships with key customers and adding several new ones.”
“With this sale of assets to FIBRA Prologis, we have successfully concluded the full cycle of the Frontier I industrial portfolio, one of the investments of our CKD CK15, an investment vehicle that was funded through the local pension funds (AFORES). Having been able to take advantage of the market dynamics for our exit strategy,” said German Ahumada Alduncin, Founding Partner of Artha Capital. In addition, Patricio Gutiérrez Tommasi, CEO of Frontier Industrial, added, “We selected FIBRA Prologis as the buyer because of their ability to execute quickly and they are a great business partner. This transaction further consolidates Frontier Industrial as an important player in the industrial sector in Mexico and reaffirms the commitment we have with our investors to continue with a strategic growth plan, and in turn supports the economic development of the country.”
ABOUT FIBRA PROLOGIS
FIBRA Prologis is a leading owner and operator of Class-A industrial real estate in Mexico. As of September 30, 2021, FIBRA Prologis was comprised of 208 logistics and manufacturing facilities in six industrial markets in Mexico totaling 40.6 million square feet (3.8 million square meters) of gross leasable area.
ABOUT ARTHA CAPITAL AND FRONTIER INDUSTRIAL
Artha Capital is a diversified private equity fund with more than USD$1.5 billion of assets under management in Mexico and the United States. Frontier Industrial began operations as one of the fund’s first investments and, since then, has become an important player in the industrial sector in Mexico, focusing on the acquisition, development, management and sale of industrial properties in the most dynamic markets of the country.
