TERRAFINA INFORMS ON THE TRANSACTION PROPOSAL FROM FIBRA UNO TO CONSOLIDATE CERTAIN PORTFOLIOS OF THE INDUSTRIAL SECTOR

terrafina

Mexico City, May 28th, 2024 – Terrafina (“TERRA”) (BMV: TERRA13), a leading Mexican industrial real estate investment trust, externally advised by PGIM Real Estate and dedicated to the acquisition, development, lease, and management of industrial real estate properties in Mexico, informs today that, in relation to the press release published by Fibra Uno last Friday May 25th, 2024, through which the general terms and conditions of Fibra Uno and Nearshoring Experts & Technology, S.C. proposal for the consolidation of rights and liabilities with regards to the Funo Industrial Portfolio, the Jupiter Portfolio and the Terrafina Portfolio are announced:

  1. We are in receipt of the proposal submitted by Fibra Uno and Nearshoring Experts & Technology, S.C. last May 25, pursuant to which the holders of Terrafina CBFIs have an additional strategic alternative in connection with its investment in our trust.
  2. Considering that (i) notwithstanding our multiple requests, Terrafina (a) has not received any evidence that such proposal has the necessary authorizations from either Fibra Uno or the owners of the Jupiter Portfolio, and (b) has not received the specific terms and conditions of the proposed transaction; and (ii) the proposal clearly provides that it is subject to improvements, changes, adjustments or additions, as well as negotiation, Terrafina will continue to work collaborative and diligently with Fibra Uno as it has done during the last months, looking to obtain evidence of such authorizations and the specific terms and conditions to enable our holders to have the necessary information to make an informed decision.
  3. Considering the timing of other strategic alternatives available to the holders of our CBFIs, our Technical Committee resolved today to instruct the Subsidiary to proceed with the call to a general ordinary and extraordinary meeting of Terrafina as soon as it is convenient for our CBFI holders to consider the merits, benefits and risks related to the transaction proposed by Fibra Uno on a timely basis. Our Technical Committee also instructed the Subsidiary to continue its efforts to obtain from Fibra Uno the pending relevant information prior to such meetings so that holders of our CBFIs have all relevant information available to inform their decisions.

 

Miranda Newswire: Full Press Release – Download PDF

 

Investor Relations Contact Details

Francisco Martínez
Investor Relations Officer
Tel: +52 (55) 5279-8107
E-mail: francisco.martinez@terrafina.mx

Marimar Torreblanca
Miranda IR
Tel: +52 (55) 5282-2992
E-mail: marimar.torreblanca@miranda-partners.com

About TERRAFINA

Terrafina (BMV:TERRA13) is a Mexican real estate investment trust formed primarily to acquire, develop, lease and manage industrial real estate properties in Mexico. Terrafina’s portfolio consists of attractive, strategically located warehouses and other light manufacturing properties throughout the Central, Bajío and Northern regions of Mexico. It is internally managed by highly qualified industry specialists and externally advised by PGIM Real Estate.
Terrafina owns 291 real estate properties, including 287 developed industrial facilities with a collective GLA of approximately 42.8 million square feet and four land reserve parcels, designed to preserve the organic growth capability of the portfolio. Terrafina’s objective is to provide attractive risk-adjusted returns for the holders of its certificates through stable distributions and capital appreciations. Terrafina aims to achieve this objective through a successful performance of its industrial real estate and complementary properties, strategic acquisitions, access to a high level of institutional support, and an effective management and corporate governance structure. For more information, please visit www.terrafina.mx/en/
 
About PGIM Real Estate
With $210 billion in gross assets under management and administration1, PGIM Real Estate provides investors and borrowers access to a range of real estate equity, real estate debt, agriculture, and impact solutions across the risk-return spectrum.
PGIM Real Estate is a business of PGIM, the global asset management business of Prudential Financial, Inc. (NYSE: PRU). PGIM Real Estate’s risk management approach, execution capabilities and industry insights are backed by a 50-year legacy of investing in commercial real estate, a 140-year history of real estate financing2, and the local experience of professionals in 35 cities globally. Through its investment, financing, asset management, and talent management approach, PGIM Real Estate engages in practices that strive to ignite positive environmental and social impact, while pursuing activities that seek to strengthen communities around the world. For more information visit visit pgimrealestate.com.
1 As of December 31, 2023; AUA is $49 billion.
2 Includes legacy lending through PGIM’s parent company, PFI.
 
About PGIM
PGIM is the global asset management business of Prudential Financial, Inc. (NYSE: PRU), a leading global investment manager with more than $1.4 trillion in assets under management as of December 31, 2023. With offices in 46 countries, PGIM’s businesses offer a range of investment solutions for retail and institutional investors around the world across a broad range of asset classes, including public fixed income, private fixed income, fundamental equity, quantitative equity, real estate, and alternatives. For more information about PGIM, visit pgim.com.
Prudential Financial, Inc. (PFI) of the United States is not affiliated in any manner with Prudential plc, incorporated in the United Kingdom or with Prudential Assurance Company, a subsidiary of M&G plc, incorporated in the United Kingdom. For more information, please visit news.prudential.com
 
Forward Looking Statements
This document may include forward-looking statements that may imply risks and uncertainties. Terms such as “estimate”, “project”, “plan”, “believe”, “expect”, “anticipate”, “intend”, and other similar expressions could be construed as previsions or estimates. Terrafina warns readers that declarations and estimates mentioned in this document or realized by Terrafina’s management imply risks and uncertainties that could change in function of various factors that are out of Terrafina’s control. Future expectations reflect Terrafina’s judgment at the date of this document. Terrafina reserves the right or obligation to update the information contained in this document or derived from this document. Past or present performance does not guarantee future performance.

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