MEXICO CITY, Dec. 8, 2021 /PRNewswire/ -- Corporación
Inmobiliaria Vesta, S.A.B. de C.V. ("Vesta") (BMV: VESTA), one of
Mexico's leading pure play
industrial real estate developers, today announced the fulfillment
of conditions and successful completion of the sale of a portfolio
("the Portfolio") comprised of two industrial properties equivalent
to 1,371,129 square feet located in Querétaro and Ciudad Juárez, as
was announced on July 27, 2021. The
Portfolio was sold for US$ 107.8
million, corresponding to the full amount so agreed.
"We are very pleased with the outcome of our most recent
portfolio sale, where our asset recycling strategy was executed
seamlessly and successfully per our Level 3 Strategy," commented
Lorenzo Dominique Berho, CEO of
Vesta. "Vesta's exceptional properties continue to attract premier
tenants, and the proceeds from this sale enables us to strengthen
Vesta's balance sheet while gaining financial flexibility to
continue investing in the development of high quality buildings,
focusing on the regions with highest growth in the country aligned
with our growth strategy."
About Vesta
Vesta is a best-in-class, fully integrated real estate company
that owns, manages, acquires, sells and develops industrial
properties in Mexico. As of
September 30, 2021, Vesta owned 189
properties located in modern industrial parks in 15 states of
Mexico totaling a GLA of 31.6
million ft2 (2.9 million m2). The Company has
multinational clients, focused on industries such as consumer
retail, aerospace, automotive, food and beverage, logistics,
medical devices and plastics, among others. For more information
visit: www.vesta.com.mx
Forward-looking statements
This communication may include statements about future events or
other types of estimates in accordance with the legislation of the
stock market. Statements about future events include, without
limitation, any statement that may predict, forecast, indicate or
imply future results, performance or achievements and may contain
words such as "believe", "anticipate", "expect", "anticipate", "
will result", "plan", "continue "or any other similar word or
phrase. Forward-looking statements are based on a number of
assumptions and are subject to a number of risks and uncertainties,
many of which are beyond Vesta's control, which may result in
material differences from what is stated or implied in the
information so declared. Some of the factors that may affect
results may include, but are not limited to: general and local
economic and business conditions; employment levels; interest rates
and regulations; uncertainties associated with the timing and
amount of future financing; risks related to the outbreak and
spread of COVID-19 and the measures that governments, agencies,
police forces and / or health authorities take to attend to them;
the financial conditions of the tenants; leasing risks, including
those associated with the ability to rent vacant space; rental
rates in future leases and fluctuations in exchange rates. The
Company's forward-looking statements and objectives are based on
certain assumptions, including that the general economy and
interest rates remain stable, real estate market conditions remain
consistent, competition for acquisitions remains consistent with
the current climate, and that capital markets continue to provide
access to capital and / or debt. All forward-looking statements in
this release refer to the date when made. The Company assumes no
obligation to update or revise forward-looking statements, whether
as a result of new information, future events, or for any other
reason, except as required by law. Additional information about
these assumptions, risks and uncertainties is contained in the
Company's statements to the National Banking and Securities
Commission and in the latest reports to the Mexican Stock Exchange.
These reports are also available on the company's website:
www.vesta.com.mx
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SOURCE Corporación Inmobiliaria Vesta, S.A.B. de C.V.