FINSA announces the first closing of its new FINSA V Investment Fund, of up to USD$600 million that will strengthen Mexico's industrial real estate sector
FINSA, leading developer of industrial properties and parks in the Mexican market, announces the closing of the first stage of the FINSA V Investment Fund for a total of USD$340 million on December 29, 2023, with a 10-year term. It is expected that subsequent stages to complete Fund V will be finalized in the coming months. This initiative aligns with the growth of the industrial market driven by nearshoring, reflecting a increasing interest in the sector.
The FINSA V Fund, backed by institutional investors, aims to comprise a portfolio of Class A industrial buildings, geographically diversified across 12 states and 7 key corridors (Monterrey, Saltillo, Juárez, Tijuana-Mexicali, El Bajío, Jalisco, and the Centro). Additionally, it will cater to strategic industries for the country such as automotive, manufacturing, electronics, logistics, and pharmaceuticals, among others.
"In response to the growing demand and global interest in the Mexican market, we have created this new investment vehicle that will allow us to continue our expansion and consolidation strategy in the industrial real estate sector. With a proven track record of 9 public and private capital raises, successful investments, and consolidated asset portfolios that represents unique investment opportunities, we have raised capital from institutional investors of over USD$1.4 billion, including 3 public funds (CKD’s) that have been crucial for strengthening the industry in Mexico," stated Sergio Argüelles, President and CEO of FINSA.
With over 4 decades of experience, FINSA is recognized as the leading developer of industrial parks in Mexico. Its track record spans over 12 million square meters developed, representing 13.6% of the industrial real estate inventory in the country and generating around 300 thousand jobs.
Currently, it has 23 industrial parks, 3.7 million square meters under management and leasing, with a 99% occupancy rate, serving diverse industries such as manufacturing, automotive, aerospace, logistics, and e-commerce.
"We are determined to maintain our growth momentum in the development of the industrial sector. The current conditions are ideal for the success of this new FINSA V Fund, an instrument that will boost the Mexican industrial sector in terms of sustainable infrastructure development, attractiveness to foreign investors, and job creation," concluded Argüelles.