Fibra Prologis, a real estate investment trust in the logistics sector, continues with its asset recycling strategy with the recent sale of five industrial properties. The transaction generated revenues for a total of 27.9 million dollars (mdd).

These properties are located in the border cities of Hermosillo, Sonora; Nuevo Laredo and Matamoros, Tamaulipas, considered non-strategic markets for the company. Together they encompass a total gross area of 713,839 square feet or 66,318 square meters (m2).

Of interest: Solili Industrial Report 2Q 2023, vacancy and exchange rate increase prices by 15% per year

Luis Gutiérrez, general director of Prologis Property México, explained that through this asset recycling program they divested from good quality properties in secondary markets to obtain resources that they plan to allocate to new opportunities that are aligned with their strategy.

The sale represents approximately 1.6% of Fibra Prologis' current real estate portfolio, which covers 4.0 million m2 of Gross Leasable Area (GLA). In addition, the most recent acquisition, announced on June 19, represented 1.5% of the trust's total property portfolio.

According to Roberto Solano, Stock Market Analysis Manager at Monex, this news confirms Fibra Prologis' active growth strategy in 2023. The recycling of assets allows the company to focus on participating in markets where they perceive greater synergies, including those related to nearshoring. 

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In line with its strategy, Fibra Prologis also announced the acquisition of three industrial properties in Monterrey, Ciudad Juárez and Tijuana, with an investment of 74.9 million dollars. These new acquisitions total approximately 60,504 m2 of GLA and offer rents in dollars.

Fibra Prologis' property sales strategy allows it to monetize assets located in secondary markets and obtain resources to finance future acquisitions, as well as for corporate purposes in general. The company seeks to build a strong presence in industrial frontier markets that can meet growing demand.

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