Prudential Mortgage Capital Commits Financing To Mexican CRE

Prudential Mortgage Capital Co. has provided $160 million in financing to a co-investment venture managed by San Francisco-based Prologis LP for a portfolio of industrial buildings in Mexico.

The fixed-rate, five-year refinancing is secured by 21 industrial and warehouse distribution buildings with 4.7 million square-feet of usable space. The property portfolio includes modern properties in the markets of Mexico City and Guadalajara and is more than 95% leased to a broad mix of multinational and regional tenants, Prudential says.

‘The significant improvement in Mexico's economy over the past couple of years along with continued manufacturing growth bodes well for Mexico's industrial real estate sector,’ says Elizabeth Velazquez, a director with Prudential who helped lead the transaction.

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