Pramerica Real Estate Investors has combined its Latin American logsitics funds to create a Mexican REIT or Fibra which has raised MXP 8.3 bn (€522 mln) in an initial public offering.
Pramerica Real Estate Investors has combined its Latin American logsitics funds to create a Mexican REIT or Fibra which has raised MXP 8.3 bn (€522 mln) in an initial public offering.
The new real estate investment trust called Terrafina has the third largest industrial portfolio in Mexico.
The initial portfolio comprises 146 properties acquired through the combination of two of Pramerica-Latin America’s closed-end funds, PLA Industrial Fund I and PLA Industrial Fund II.
The properties include 132 developed industrial properties and 14 land reserve parcels. The properties are primarily located in Mexico’s central, Bajío and northern regions, spread throughout 25 cities in 16 states.
Pramerica is the real estate investment management and advisory business of New York-listed Prudential Financial.
