SURA acquires Meor's industrial warehouse in Nuevo León

SURA Investment Management  announced the acquisition from Meor , a real estate developer firm, of an industrial warehouse located in the metropolitan area of ​​Monterrey , Nuevo León. 

The warehouse for logistics use was built in 2019, it has 34,000 square meters of leasable area (GLA). It has a lease contract fixed in dollars indexed to USD CPI and maturing in November 2029, since the lessee's operation is associated with the integration of supply chains in North America to supply demand in the United States. 

Javier Camarena, general director of Meor , commented that this acquisition by Sura  encourages to continue investing in the development of parks and industrial buildings that allow the establishment of companies and the expansion of those already existing in Mexico, which generates jobs and improves the living conditions of the people who live in the surrounding area. 

"This acquisition by SURA fills us with emotion and pride, we hope that our AAA industrial warehouse, which meets the best specifications in the market, satisfies the needs of our client and allows it to continue its expansion."

In this regard, Felipe Toro, head of Real Estate at SURA Investment Management, stated that Mexico is a strategic destination for real estate investment and for the organization's plans. Therefore, through this transaction, we will continue to focus on the origination of a solid pipeline that generates value for investors.

SURA 's knowledge and regional capabilities have made the company a preferred ally for investors, it has positioned itself thanks to the use of industrial mega trends that exist with the high demand for industrial spaces due to the increase in e-commerce and near -shoring , consolidating a real estate portfolio of institutional quality with tenants of high credit quality.

The Company anticipates that this transaction is significant from the accumulation for real estate strategy in the country, since it increases the size of the portfolio by 41 million dollars in asset value, generating 3.1 million dollars of annual operating income. In terms of square meters, the assets total close to 61,000 square meters of GLA with a WALT greater than 50 months and 0% vacancy. 

In accordance with the investment strategy, the portfolio is 100% dollarized and is yielding an expected gross rate of return of 11.6% with an expected dividend yield close to 6%. At multiple levels, the portfolio has an expected MOIC greater than 2x.