Finsa, the developer of parks and industrial buildings in Mexico, will seek resources for 11.9 million dollars with its first capital call, protected by the Certificate of Development Capital (CKD) that it issued in January of this year.

The issuer said, through a notice to the market, that the funds obtained will be used to make investments previously approved by the Holders Assembly on February 9, 2021. These corresponded to a portfolio with three industrial buildings that add up to an area of 45,838 square meters, located in the city of San Pedro Tlaquepaque, Jalisco.

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The acquisitions, the Fund details, were an industrial building with an approximate area of 20,846 square meters. As well as the purchase of an industrial building of approximately 10,577 square meters of surface and another industrial building of 14,415 square meters of surface.

Additionally, it announced an early access agreement in an industrial building with a surface area of 14,415 square meters, located in Prologis El Salto Park, in the municipality of San Pedro Tlaquepaque, Jalisco.

On January 25, 2021, Finsa held a public offering to place a CKD, under the capital call mechanism, for an amount of 150 million dollars, amount of which was made the initial issuance of certificates for 30 million dollars.

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Since 2012, Finsa has carried out the issuance of three CKDs. The first was for an amount of 2,750 million pesos and, the second placement made in 2015, was for 1,000 million pesos, both in alliance with the private equity fund Walton Street Capital. Earlier this year it issued its third equity vehicle, but in dollars.

Finsa develops and manages industrial properties. It currently has 22 industrial parks and more than 2.6 million square meters of real estate space under lease. Since its founding, Finsa has built more than 11.7 million square meters for diverse clients in more than 62 locations throughout the country.

If you want to know more about the price or construction in the Guadalajara market, don't forget to check the city's industrial report here.

Original article