FIBRA Prologis Acquires 250,400 Square Feet of Class-A Facilities
MEXICO CITY, Dec. 14, 2016 /PRNewswire/ -- FIBRA Prologis (BMV: FIBRAPL14), Mexico's leading owner and operator of Class-A logistics real estate, today announced the acquisition of 250,400 square feet across two fully leased Class-A logistics facilities for a total investment of US$16.2 million, including closing costs.
The two properties are new developments by sponsor Prologis, and are located in the southeast submarket of Ciudad Juarez.
"This acquisition complements our portfolio in Ciudad Juarez, which as of September 30 was 95.6 percent occupied, outpacing Ciudad Juarez's market occupancy by 290 basis points. The properties are located within Juarez Industrial Center, which is in the most important and dynamic industrial submarket of Ciudad Juarez and has direct access to a major highway as well as proximity to the U.S.-Mexico border crossing," said Luis Gutierrez, CEO, Prologis Property Mexico. "Both properties are 100-percent leased to EP Logistics, a growing regional third-party logistics company that provides export and import services to manufacturers in the electronics, automotive and medical device sectors, among others."
As of September 30, 2016, FIBRA Prologis owned 3.3 million of logistics and distribution space in the Ciudad Juarez market and 33.3 million square feet throughout Mexico.
ABOUT FIBRA PROLOGIS
FIBRA Prologis is the leading owner and operator of Class-A logistics real estate in Mexico. As of September 30, 2016, FIBRA Prologis comprised 190 logistics facilities in six industrial markets in Mexico totaling 33.3 million square feet (3.1 million square meters) of gross leasable area.
The statements in this release that are not historical facts are forward-looking statements. These forward-looking statements are based on current expectations, estimates and projections about the industry and markets in which FIBRA Prologis operates, management's beliefs and assumptions made by management. Such statements involve uncertainties that could significantly impact FIBRA Prologis financial results. Words such as "expects," "anticipates," "intends," "plans," "believes," "seeks," "estimates," variations of such words and similar expressions are intended to identify such forward-looking statements, which generally are not historical in nature. All statements that address operating performance, events or developments that we expect or anticipate will occur in the future — including statements relating to rent and occupancy growth, acquisition activity, development activity, disposition activity, general conditions in the geographic areas where we operate, our debt and financial position, are forward-looking statements. These statements are not guarantees of future performance and involve certain risks, uncertainties and assumptions that are difficult to predict. Although we believe the expectations reflected in any forward-looking statements are based on reasonable assumptions, we can give no assurance that our expectations will be attained and therefore, actual outcomes and results may differ materially from what is expressed or forecasted in such forward-looking statements. Some of the factors that may affect outcomes and results include, but are not limited to: (i) national, international, regional and local economic climates, (ii) changes in financial markets, interest rates and foreign currency exchange rates, (iii) increased or unanticipated competition for our properties, (iv) risks associated with acquisitions, dispositions and development of properties, (v) maintenance of real estate investment trust ("FIBRA") status and tax structuring, (vi) availability of financing and capital, the levels of debt that we maintain and our credit ratings, (vii) risks related to our investments (viii) environmental uncertainties, including risks of natural disasters, and (ix) those additional factors discussed in reports filed with the "Comisión Nacional Bancaria y de Valores" and the Mexican Stock Exchange by FIBRA Prologis under the heading "Risk Factors." FIBRA Prologis undertakes no duty to update any forward-looking statements appearing in this release.
Non-Solicitation - Any securities discussed herein or in the accompanying presentations, if any, have not been registered under the Securities Act of 1933 or the securities laws of any state and may not be offered or sold in the United States absent registration or an applicable exemption from the registration requirements under the Securities Act and any applicable state securities laws. Any such announcement does not constitute an offer to sell or the solicitation of an offer to buy the securities discussed herein or in the presentations, if and as applicable.
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SOURCE FIBRA Prologis
Released December 14, 2016