FIBRA Prologis Secures Control of FIBRA Terrafina

Leading industrial and logistics real estate Real Estate Investment Trust (FIBRA) FIBRA Prologis successfully acquired 77.14% of Terrafina's real estate trust certificates (CBFIs). The company considers this acquisition further solidifies FIBRA Prologis' position in Mexico's industrial real estate sector with an ample land package and industrial assets in key markets.

FIBRA Prologis reported it secured control of Terrafina with more than three-quarters of shareholders supporting its tender. "With our extensive market experience and robust portfolio, we are well-positioned to drive sustained value and growth for both Terrafina and FIBRA Prologis investors,” said Hector Ibarzabal, CEO, FIBRA Prologis.

Terrafina manages approximately 3.9 million m² of industrial real estate properties across several key markets, including 288 industrial warehouses and four land bank properties. As of June 30, 2024, FIBRA Prologis owned 236 logistics and manufacturing facilities in six industrial markets in Mexico, totaling 4.4 million m2 of gross leasable area (GLA).

FIBRA Prologis said this acquisition reinforces its presence in Mexico, where it is one of the largest industrial real estate companies. The company also plans to expand its investment in high-quality industrial assets. According to Armando Fregoso, President, Prologis Latin America, the tender’s outcome reflects the confidence of Terrafina investors in FIBRA Prologis’ management and operational performance. "As we integrate these high-quality assets over time, we remain committed to leveraging our leading operational capabilities to maximize opportunities in Mexico's dynamic industrial real estate market,” he added.