Macquarie Asset Management to make its largest single core/core-plus real estate transaction in Latin America

Macquarie Asset Management (MAM) has plans to acquire the ELITE portfolio of eight class-A fully leased industrial and logistics properties in Mexico from British Columbia Investment Management Corp., on behalf of an institutional client.

The ELITE portfolio consists of eight logistics assets, located north of downtown Mexico City along the Pan American Highway logistics corridor, connecting South, Central and North America.

The portfolio is managed by Hines, and all the buildings meet high ESG and workplace health and safety standards.

Financial terms were not disclosed, however MAM said this is the largest single transaction the firm’s core and core-plus team has closed in Latin America and the largest industrial market real estate transaction in the Mexico City Metropolitan Area in the past 10 years.

“This acquisition represents an excellent opportunity to grow our portfolio of institutional real estate in Mexico and increase our exposure to the re