{"id":1004035575,"date":"2011-12-20T09:55:30","date_gmt":"2011-12-20T17:55:30","guid":{"rendered":"https:\/\/www.commercialsearch.com\/news\/?p=1004035222"},"modified":"2022-12-06T04:53:04","modified_gmt":"2022-12-06T12:53:04","slug":"prologis-contributes-293m-to-mexican-industrial-portfolio","status":"publish","type":"post","link":"https:\/\/www.commercialsearch.com\/news\/prologis-contributes-293m-to-mexican-industrial-portfolio\/","title":{"rendered":"Prologis Contributes $293M to Mexican Industrial Portfolio"},"content":{"rendered":"

December 20, 2011<\/strong>
\nBy Barbra Murray, Contributing Editor<\/em><\/p>\n

Prologis Inc. continues to make big moves in Mexico with the contribution of a $293 million portfolio of industrial properties to Prologis Mexico Fondo Logistico, its Mexican co-investment venture. The group of high-quality facilities encompasses 5.3 million square feet of space in Guadalajara, Mexico City and Monterrey,<\/p>\n

Prologis threw in properties valued at $234.5 million from its portfolio of wholly owned assets and additional properties totaling $58.5 million from its Prologis North American Industrial Fund II. “This is the largest industrial real estate transaction completed in Mexico to date with Mexican pension fund proceeds,” Luis Gutierrez, Prologis’ president for Latin America, said. The company walked away from the donation with net proceeds of $266 million. The extra pocket change will be directed toward the paying down of debt.<\/p>\n

The contribution comes just weeks after Prologis, manager of the venture, announced that it had secured $160 million from Prudential Mortgage Capital Co.<\/a> for the co-investment vehicle’s refinancing of a collection of 21 industrial and warehouse distribution buildings totaling 4.7 million square feet in Guadalajara, Mexico City and Monterrey.<\/p>\n

It appears Mexico will continue to be high on the industrial real estate owner and developer’s radar going into the new year. “Our business in Mexico is going quite well,” Hamid Moghadam, Prologis chairman and co-CEO, said during the company’s second-quarter earnings call in July. “It’s at the higher scale now, and at some point we need to start thinking about the next vehicle for Mexico or an expansion of the existing vehicle. But I would say, Mexico and Canada are probably 2012 priorities, end of 2012 priorities.”<\/p>\n","protected":false},"excerpt":{"rendered":"

Prologis continues to make big moves in Mexico with the contribution of a $293 million portfolio of industrial properties to Prologis Mexico Fondo Logistico, its Mexican co-investment venture.<\/p>\n","protected":false},"author":1201,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[21748,16,21783,21742],"tags":[],"class_list":["post-1004035575","post","type-post","status-publish","format-standard","hentry","category-industrial","category-international","category-investment","category-latest"],"acf":[],"yoast_head":"\nPrologis Contributes $293M to Mexican Industrial Portfolio - Commercial Property Executive<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.commercialsearch.com\/news\/prologis-contributes-293m-to-mexican-industrial-portfolio\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Prologis Contributes $293M to Mexican Industrial Portfolio\" \/>\n<meta property=\"og:description\" content=\"Prologis continues to make big moves in Mexico with the contribution of a $293 million portfolio of industrial properties to Prologis Mexico Fondo Logistico, its Mexican co-investment venture.\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.commercialsearch.com\/news\/prologis-contributes-293m-to-mexican-industrial-portfolio\/\" \/>\n<meta property=\"og:site_name\" content=\"Commercial Property Executive\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/CPExecutive\" \/>\n<meta property=\"article:published_time\" content=\"2011-12-20T17:55:30+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2022-12-06T12:53:04+00:00\" \/>\n<meta name=\"author\" content=\"Nicholas Ziegler\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:creator\" content=\"@cpexecutive\" \/>\n<meta name=\"twitter:site\" content=\"@cpexecutive\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\\\/\\\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/prologis-contributes-293m-to-mexican-industrial-portfolio\\\/#article\",\"isPartOf\":{\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/prologis-contributes-293m-to-mexican-industrial-portfolio\\\/\"},\"author\":{\"name\":\"Nicholas Ziegler\",\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/#\\\/schema\\\/person\\\/ff3a837f33daecfcf8978b405eaae20c\"},\"headline\":\"Prologis Contributes $293M to Mexican Industrial Portfolio\",\"datePublished\":\"2011-12-20T17:55:30+00:00\",\"dateModified\":\"2022-12-06T12:53:04+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/prologis-contributes-293m-to-mexican-industrial-portfolio\\\/\"},\"wordCount\":272,\"commentCount\":0,\"articleSection\":[\"Industrial\",\"International\",\"Investment\",\"News\"],\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"CommentAction\",\"name\":\"Comment\",\"target\":[\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/prologis-contributes-293m-to-mexican-industrial-portfolio\\\/#respond\"]}]},{\"@type\":\"WebPage\",\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/prologis-contributes-293m-to-mexican-industrial-portfolio\\\/\",\"url\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/prologis-contributes-293m-to-mexican-industrial-portfolio\\\/\",\"name\":\"Prologis Contributes $293M to Mexican Industrial Portfolio - 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