FIBRA Prologis Completes Portfolio Sale
MEXICO CITY/ March 25, 2019 (STL.News)
FIBRA Prologis (BMV: FIBRAPL 14), a leading owner and operator of Class-A industrial real estate in Mexico, today announced it has completed the sale of a portfolio of buildings to a major Mexican institutional investor for USD $62.0 million ($57.73/sqft), net of capital credit for near-term maintenance, in line with December 31, 2018 appraised value ($58.28/sqft).
The portfolio has a 95.7 percent occupancy rate and comprises approximately 1.1 million square feet including:
Two buildings totaling 423,021 square feet in Guadalajara;
Three buildings totaling 343,809 square feet in Monterrey;
One building totaling 139,673 square feet in Nogales;
One building totaling 95,949 square feet in Querétaro; and
One building totaling 71,868 square feet in Saltillo
The proceeds from this transaction will be used to pay down our revolving line of credit and was included in our 2019 guidance.