IDI Gazeley sells entire Mexican industrial portfolio
IDI Gazeley, a part of Brookfield Logistics Properties, has sold its entire Mexican industrial portfolio for $302 million to FINSA, a Mexico-based industrial operator.
The portfolio consists of 35 properties in major Mexican markets, as well as 395 acres of land for future development. It totals 5.7 million square feet. The properties represent holdings acquired through the 2013 purchase of Verde Industrial.
“The sale of our Mexican Verde industrial portfolio represented an opportunity to harvest meaningful gains on an investment that was made in 2012,” said Jay Cornforth, managing partner, global head of industrial at Brookfield Property Group and CEO of IDI Gazeley North America, in a statement.
In other news, IDI Gazeley recently acquired a 13-property European portfolio for $156.2 million. The industrial portfolio totals 2.48 million square feet spread ac