MEXICO CITY, Nov. 3, 2016 /PRNewswire/ -- FIBRA Prologis (BMV: FIBRAPL14), Mexico's leading owner and operator of Class-A logistics real estate, today announced the acquisition of a new 616,800 square foot Class-A building for a total investment of approximately US$49.8 million including closing costs.
The property was developed by sponsor Prologis and is in the Cuautitlán-Izcalli submarket of Mexico City.
FIBRA Prologis also announced that due to the investment value of the building, the acquisition is considered a corporate restructuring under the Disposiciones de Carácter General Aplicables a las Emisoras de Valores y a otros Participantes del Mercado de Valores (as amended from time to time, the "CNBV Regulations"). Exhibit P, informative memorandum, including pro-forma financial information, of the CNBV Regulations will be filed no later than November 11, 2016, in accordance with article 35 of the CNBV Regulation.
"We are pleased with the acquisition of this state-of-the-art logistics facility, which allows us to complete the ownership of our master-planned Prologis Park Izcalli," said Luis Gutierrez, CEO, Prologis Property Mexico. "This modern building is 100-percent leased to one of the largest Mexican retailers, and it will enable this customer to consolidate a portion of its Mexico City retail distribution as well as accommodate its fast growing e-commerce business."
As of September 30, 2016, FIBRA Prologis owned 11.5 million square feet of logistics and distribution space in the Mexico City market and 33.3 million square feet throughout Mexico.
ABOUT FIBRA PROLOGIS
FIBRA Prologis is the leading owner and operator of Class-A logistics real estate in Mexico. As of September 30, 2016, FIBRA Prologis comprised 190 logistics and manufacturing facilities in six industrial markets in Mexico totaling 33.3 million square feet (3.1 million square meters) of gross leasable area.
The statements in this release that are not historical facts are forward-looking statements. These forward-looking statements are based on current expectations, estimates and projections about the industry and markets in which FIBRA Prologis operates, management's beliefs and assumptions made by management. Such statements involve uncertainties that could significantly impact FIBRA Prologis financial results. Words such as "expects," "anticipates," "intends," "plans," "believes," "seeks," "estimates," variations of such words and similar expressions are intended to identify such forward-looking statements, which generally are not historical in nature. All statements that address operating performance, events or developments that we expect or anticipate will occur in the future — including statements relating to rent and occupancy growth, acquisition activity, development activity, disposition activity, general conditions in the geographic areas where we operate, our debt and financial position, are forward-looking statements. These statements are not guarantees of future performance and involve certain risks, uncertainties and assumptions that are difficult to predict. Although we believe the expectations reflected in any forward-looking statements are based on reasonable assumptions, we can give no assurance that our expectations will be attained and therefore, actual outcomes and results may differ materially from what is expressed or forecasted in such forward-looking statements. Some of the factors that may affect outcomes and results include, but are not limited to: (i) national, international, regional and local economic climates, (ii) changes in financial markets, interest rates and foreign currency exchange rates, (iii) increased or unanticipated competition for our properties, (iv) risks associated with acquisitions, dispositions and development of properties, (v) maintenance of real estate investment trust ("FIBRA") status and tax structuring, (vi) availability of financing and capital, the levels of debt that we maintain and our credit ratings, (vii) risks related to our investments (viii) environmental uncertainties, including risks of natural disasters, and (ix) those additional factors discussed in reports filed with the "Comisión Nacional Bancaria y de Valores" and the Mexican Stock Exchange by FIBRA Prologis under the heading "Risk Factors." FIBRA Prologis undertakes no duty to update any forward-looking statements appearing in this release.
Non-Solicitation - Any securities discussed herein or in the accompanying presentations, if any, have not been registered under the Securities Act of 1933 or the securities laws of any state and may not be offered or sold in the United States absent registration or an applicable exemption from the registration requirements under the Securities Act and any applicable state securities laws. Any such announcement does not constitute an offer to sell or the solicitation of an offer to buy the securities discussed herein or in the presentations, if and as applicable.
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SOURCE FIBRA Prologis