PGIM Real Estate provided more than $ 169 million in fixed rate financing for three industrial portfolios located in Mexico.

This, as part of its US Core Plus strategy, with which two investments were made for CPA (Corporate Properties of the Americas) and one more for Advance Real Estate.

Elizabeth Velázquez, executive director at PGIM Real Estate, considered that the industrial market in Mexico is full of opportunities, noting that commercial volumes between the United States and Mexico continue to be important.

He added that, as demand continues in neighboring countries, the Mexican industrial market will be the main beneficiary.

Check here: International industry finds advantages in Mexico

The transactions provide $ 84.5 million to CPA to supplement two existing loans.

The first is a supplementary loan of $ 50 million dollars at a fixed rate for the industrial portfolio CPA México, of 39 properties that includes industrial warehouses and distribution plants and light manufacturing in 9 million square feet or 836,127 square meters, in properties located in Monterrey, Tijuana, Mexico City and Guadalajara.

The second loan of $ 34.5 million dollars at a fixed rate is to finance the industrial portfolio of CPA Bell and is about 5 properties consisting of industrial warehouses and distribution and light manufacturing plants with a total of 61,316 square meters, in spaces located in Mexico City, Tijuana and Hermosillo.

Of interest: The count of Foreign Direct Investment in Querétaro in 2021

For its part, Advance Real Estate received $ 84.79 million to finance the acquisition of eight industrial assets, in properties located in Tijuana and Ciudad Juárez, which include distribution and light manufacturing plants with a total of 1.78 million square feet or 165 thousand 367 square meter.

CPA has developed or acquired more than 35 million square feet of industrial space throughout the country, offering solutions for warehouse space, distribution and light manufacturing to more than 200 national and multinational clients.

For its part, Advance Real Estate has more than 66 projects consisting of more than 12.5 million square feet in 12 cities in Mexico and additionally has more than 20.3 million square feet, which is equivalent to 1 million 885 thousand 931 square meters of land. for industrial development.

Check more availability of industrial buildings in Querétaro, Saltillo and Guanajuato

Original note