MEXICO CITY—Macquarie Mexican REIT says it has completed the acquisition of a 50% interest in a portfolio of nine retail properties and additional land from Kimco Realty Corporation for around $113 million (Ps.1.47B).
An additional payment may be made to Kimco if certain occupancy and rental growth thresholds are met 18 months after closing. US dollar figures are based on an exchange rate of 13.00 Ps/USD.
“The transaction closed today is a great complement to our existing retail portfolio and represents an important opportunity to further create value for our investors,” said Jaime Lara, CEO of the Mexican REIT.
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David Phillips
David Phillips is a Chicago-based freelance writer and consultant with more than 20 years experience in business and community news. He also has extensive reporting experience in the food manufacturing industry for national trade publications.
