Mexico City and New York
October 14, 2021
TC Latin America Partners (“TC Latam”) announced the acquisition of an industrial park in Monterrey, Nuevo León, marking its entry into the Mexican industrial real estate market.
The purchase of this unique, partially stabilized industrial asset, highlights TC Latam’s competitive advantages as an institutional real estate fund manager: its ability to originate scalable investment opportunities and to create value through ground-up development.
The Puerta del Norte Industrial Park is located in one of the most resilient markets of the global real estate sector. The property has an existing leasable area of 686,000 square feet and an additional development potential of 888,000 square feet, which will be carried out by REI Real Estate. Existing and future tenants will benefit from the US, Mexico, and Canada Free Trade Agreement (USMCA), as well as by the highly competitive Mexican workforce.
Puerta del Norte is located in a privileged location between the US and Central Mexico, and has access to two of the main railway lines that connect the two countries (Kansas City Southern and Ferromex); only five other industrial parks in the country offer similar characteristics.
Gregorio Schneider, CIO and founding partner of TC Latam, explained the unique advantages that this acquisition will bring to investors: “This transaction is an important step in the continued diversification of our portfolio… Puerta del Norte has unique characteristics that make it a compelling investment. In the short term, our investors will receive an attractive in-place income stream from the stabilized portion of the park; in the medium term, they will also benefit from the additional income generated by the planned expansion within the industrial park.”
In line with TC Latam’s strategy to strengthen its presence in the Mexican industrial sector, the firm announced in August 2021 a strategic partnership with The Haskell Company, a US-based firm with extensive experience in architecture, engineering, construction, and consulting, to become a capital provider for future built-to-suit project. As part of the partnership, TC Latam will provide financial solutions to companies that wish to develop new facilities, modify existing ones, or expand and adapt production lines. Both firms are currently in the process of developing the business plan for this new alliance.
In 2020, TC US Partners, a subsidiary of TC Latam in the US, successfully completed the sale of a portfolio of industrial assets in the southeastern United States. The firm is currently pursuing new investment opportunities in the industrial sector in the western United States and has established a strategic partnership with a local operator specialized in the acquisition and management of small-bay/light industrial assets, with whom it has already closed two transactions in Phoenix and Portland.
About TC Latin America Partners (www.tclatam.com)
TC Latin America Partners is an Institutional Real Estate Fund Manager that invests with an opportunistic approach in industrial, commercial, residential, healthcare, and digital real estate assets in Latin America. The company was founded in 2012 and is registered as an investment adviser with the SEC in the United States. The firm is headquartered in New York City and has local offices in Bogota, Lima, Mexico City, and Santo Domingo.
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