FINSA, a leading industrial real estate developer in Mexico, and its partner, an affiliate of Walton Street Capital, L.L.C. (“Walton Street”) closed the sale of a 46-property portfolio, known locally as the “Zeus” portfolio, for $662 million USD. The transaction is one of the largest industrial real estate transactions in Mexico’s history.
The portfolio consists of 46 leased industrial buildings, 8 of which are LEED certified, with a total leasable area of 8.9 million square feet, distributed through 11 states in Mexico, with a diversified roster of tenants. The portfolio also includes almost 9.5 million square feet of land for additional development.
FINSA and Walton Street created this 8.9 million square foot industrial portfolio through a joint acquisition and development strategy, with approximately 30% of the portfolio deriving from acquisitions and 70% from development. Through active asset management, leasing and property management strategies, the portfolio reached an occupancy of over 99% at the time of sale.
FINSA, together with an affiliate of Walton Street, had previously sold the “Titan” portfolio in 2019 for $848 million USD, still one of the largest industrial real estate transactions in Mexico’s history.
"We are excited about the good results at this pivotal moment for Mexico, when nearshoring is so relevant for the country," expressed Sergio Argüelles González, President and CEO of FINSA, who added, "This is an example of the good performance and liquidity of the Mexican real estate market, and the trust, stability and dynamism in the industrial sector."
Federico Martin del Campo, CEO of Walton Street Capital México, mentioned that “This sale is an example of the strength we have observed in the Mexican industrial sector for some years, which continues to increase due to nearshoring. The manufacturing and logistics sectors are a growth engine for our country and we are proud to be part of that growth.”
About Walton Street:
Walton Street is a private equity real estate investment firm. Since its inception in 1994 Walton Street affiliates have raised over $15 billion of capital commitments. Affiliates of Walton Street have actively participated in the real estate industry in México since 1998 and raised over $2.4 billion USD of capital commitments from institutional investors. Walton Street affiliates have invested and committed over $1 billion USD to date to industrial real estate assets in Mexico and expect to continue being active participants in this sector.
About FINSA:
FINSA is a leading Mexican company in industrial real estate development. It is backed by 46 years of experience, the largest coverage in the country with 23 industrial parks and 71 locations nationwide. It provides specialized real estate solutions for each stage of the life cycle of projects and the requirements of different industries. It is a pioneer in the operation of sustainable buildings and the first developer in the world to be certified as an Authorized Economic Operator.
FINSA has an established track record in the operation and management of CKD investment vehicles. To date, the company has placed two of these instruments in pesos for a total amount of $7,750 million MXN, and a third one for $150 million USD issued in 2021, which is currently in the investment stage. Additionally, “Finsa Fund III and Finsa Fund IV” have been created to add, together with this last vehicle, total capital of $395 million USD.
A new fund is currently in the planning phase that will boost FINSA's growth in Mexico over the next few years. Learn more at: finsa.net
View source version on businesswire.com: https://www.businesswire.com/news/home/20230406005683/en/
Contacts
Walton Street Capital, L.L.C.
Jessica Jahn
(312) 915-2859
jjahn@waltonst.com
