CHICAGO—A partnership between Finsa and Walton Street Capital has just purchased the Verde Northern Mexico Industrial Portfolio, a 35-property class A industrial portfolio in Mexico for $302 million. A capital markets team from Chicago-based JLL brokered the sale on behalf of IDI Gazeley Brookfield Logistics Properties. The Chicago-based Walton, which has been Mexico-based Finsa's partner for years, is just one of an increasing number of investors crossing the border to secure top industrial product, according to JLL officials.
The transaction was led by international director John Huguenard, managing director Michael Hochanadel and senior vice president Sean Devaney of the JLL US team in conjunction with national director Gerardo Ramírez and director Alberto León of the JLL Mexico team.
“This portfolio presented investors with the opportunity to acquire scale for one of the most sought after product types,” says Huguenard. “Mexico's growing economy plus the property's locations near the US position the portfolio to benefit from a significant amount of trade between the two countries.”
The portfolio totals 5.7-million-square-feet with buildings located in Juarez, Tijuana, Reynosa and Chihuahua, Mexico and has about 446 acres of land. Forty-three different tenants occupy the portfolio.
As reported in GlobeSt.com, the amount of commercial real estate investment throughout the globe hit a record high in the fourth quarter and, according to a JLL study, Mexico had good momentum throughout the year.
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Brian J. Rogal
Brian J. Rogal is a Chicago-based freelance writer with years of experience as an investigative reporter and editor, most notably at The Chicago Reporter, where he concentrated on housing issues. He also has written extensively on alternative energy and the payments card industry for national trade publications.
