MEXICO
CITY, Aug. 6, 2024 /PRNewswire/ -- FIBRA
Prologis (BMV: FIBRAPL 14), a leading owner and operator of Class A
industrial real estate in Mexico,
has acquired a significant majority of Terrafina's CBFIs,
representing 77.14% of the outstanding certificates. This move
further solidifies FIBRA Prologis' position as a leading player in
Mexico's industrial real estate
sector.
"We are delighted to have secured control of Terrafina with more
than three-quarters of shareholders supporting FIBRA Prologis'
tender. This is a significant milestone that underscores our
commitment to the Mexican industrial real estate market," said
Hector Ibarzabal, CEO of FIBRA
Prologis. "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."
Terrafina manages approximately 42.2 million square feet of
industrial real estate across several key markets, which includes
288 industrial warehouses and 4 land bank properties. As of
June 30, 2024, FIBRA Prologis owned
236 logistics and manufacturing facilities in six industrial
markets in Mexico totaling 46.9
million square feet (4.4 million square meters) of gross leasable
area.
The acquisition reinforces FIBRA Prologis' substantial presence
in Mexico, where it is one of the
largest industrial real estate companies. The company is poised to
expand its investment in high-quality industrial assets, reflecting
its confidence in its long-term growth potential.
"The successful outcome of this tender offer is a testament to
the confidence that Terrafina CBFI holders have in our strategic
direction and operational expertise," said Armando Fregoso, President, Prologis Latin
America. "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."
ABOUT FIBRA PROLOGIS
FIBRA Prologis is a leading owner and operator of Class-A
industrial real estate in Mexico.
As of June 30, 2024, FIBRA Prologis
was comprised of 236 logistics and manufacturing facilities in six
industrial markets in Mexico
totaling 46.9 million square feet (4.4 million square meters) of
gross leasable area.
FORWARD-LOOKING STATEMENTS
The statements in this release that are not historical facts are
forward-looking statements. These forward-looking statements are
based on current expectations, intents, 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
results. Words such as "expects," "anticipates," "intends," "will,"
"believes," "potential," "estimates," "should" and 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 the terms of the tender
offer, the success of closing the tender offer, the expected
benefits of the proposed business combination, the potential
disadvantages of not participating in the Offer or events or
developments that we expect or anticipate will occur in the future,
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)
competing bids for the acquisition of Terrafina, (ii) varying
interpretations of regulations by governing authorities, (iii)
national, international, regional and local economic climates, (iv)
changes in financial markets, interest rates and foreign currency
exchange rates, (v) increased or unanticipated competition for our
properties, (vi) risks associated with acquisitions, dispositions
and development of properties, (vii) maintenance of real estate
investment trust (FIBRA) status and tax structuring, (viii)
availability of financing and capital, the levels of debt that we
maintain and our credit ratings, (ix) risks related to our
investments, (x) risks related to the coronavirus pandemic, (xi)
inability to adjust, revise or amend FIBRA Prologis's fee
structure; and (xii) those additional factors discussed in Tender
Offer Prospectus and 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.
View original content to download
multimedia:https://www.prnewswire.com/news-releases/fibra-prologis-secures-control-of-terrafina-reinforcing-commitment-to-mexican-industrial-real-estate-302216063.html
SOURCE FIBRA Prologis