The mexican REIT, Terrafina, announced today the acquisition of 8 class A industrial properties, located in the North of Mexico City, for 59 million dollars, excluding taxes and transaction costs.

The buildings ages go from less than 1 to 4.9 years, the total rentable area amounts to 1.1 million square feet and the consolidated buying price was 53.6 dollars per square foot.

The contracts terms go from 7.9 to 9 years and the annualized average renting price will be of 5.08 dollars.

According to the information sent to the Mexican Stock Exchange, the funds to finance will come from the raising performed by the REIT in july, 2017. 42.9 million dollars will be paid in cash and 16.1 million in existing debt in one of the acquired portfolios, which will reflect in Terrafina's general balance.

Terrafina currently owns 272 properties, including 260 warehouses, which total 36.5 million of square feet of gross rentable area and 12 land reserves, designed to preserve the growth capacity of the portfolio.