The Vesta real estate corporation signed a purchase-sale agreement to transfer a real estate portfolio of 1,371,139 square feet, which is equivalent to 127,383 square meters.

The purchase price of the properties, located in the North and Bajío regions, was 107.75 million dollars, which will improve the quality and diversification of the total portfolio, thus maintaining a competitive mix of geographies unique in the market.

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The transaction is expected to be completed in the fourth quarter of 2021, with government approvals, including that of the Federal Economic Competition Commission (COFECE).

According to Vesta, the transaction is part of the asset recycling program incorporated into the Vesta Level 3 Strategy.

The initiative, introduced in 2019, aims to recycle up to $ 300 million in property value by 2024.

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This transaction strengthens the company's balance sheet and underscores Vesta's ability to initiate initiatives to finance growth through various channels, according to Lorenzo Dominique Berho, Vesta's CEO.

In addition, he added that this sale allows them to allocate capital to industrial markets and regions that present the most attractive relative returns.

In Solili you can consult the Solili Industrial Report July 2021: Demand higher than pre-pandemic periods

Original note