MEXICO CITY, 25 MAY 2023
Macquarie Asset Management (“MAM”), on behalf of an institutional client, has reached an agreement to acquire the ELITE portfolio of eight Class A fully-leased industrial and logistics properties in Mexico from British Columbia Investment Management Corporation. This acquisition marks the largest single transaction the MAM Core and Core Plus team has closed in Latin America, as well as the largest industrial market real estate transaction in the Mexico City Metropolitan Area in the last 10 years.
The ELITE portfolio consists of eight logistics assets strategically located 20 kilometers (12 miles) north of downtown Mexico City along the Pan American Highway logistics corridor. Connecting South, Central and North America, the location provides direct access to millions of end-users in Mexico. The portfolio is managed by Hines, a privately-owned global real estate investment, development and management firm. All of the buildings meet high ESG and workplace health and safety standards.
“This acquisition represents an excellent opportunity to grow our portfolio of institutional real estate in Mexico and increase our exposure to the regional logistics market,” said Christian Goebel, Co-Head of Core / Core-Plus Real Estate, Macquarie Asset Management. “Our ever-growing footprint in Latin America has enabled us to quickly take advantage of tail winds in the region where we have significantly increased our assets under management over the last 15 years.”
In addition to this logistics portfolio, Macquarie Asset Management manages 13 office buildings in Mexico, Peru and Chile via private mandates. Macquarie Asset Management has been an active participant in the real estate markets through such mandates in Chile since 2007, Peru since 2015 and Mexico since 2018.