Terrafina acquires industrial properties for USD24.1m

Mexican real estate investment trust Terrafina, which is externally advised by PGIM Real Estate, has closed on the acquisition of two Class A industrial properties for USD24.1 million, excluding taxes and transaction costs.

These assets will be financed with remaining proceeds from the follow-on offering concluded in July 2017.
 
“With the closing of this transaction, we have currently deployed over 95 per cent of the capital obtained in July 2017 for our acquisition strategy, with which we reaffirm our commitment to continue delivering value to the portfolio and our investors. Going forward, our acquisition strategy will continue to focus on employing disciplined analysis and identifying industrial assets that strengthen our operating and financial results in the long-term,” says Alberto Chretin, Terrafina’s Chief Executive Officer.