MEXICO CITY, Sept. 23, 2019 (GLOBE NEWSWIRE) -- Terrafina (”TERRA”) (TERRA13.MX), a leading Mexican industrial real estate investment trust (“FIBRA”), externally advised by PGIM Real Estate and dedicated to the acquisition, development, leasing and management of industrial real estate properties in Mexico, announced today that Alfonso Munk Alba, PGIM Real Estate’s Head of Latin America and Americas’ Chief Investment Officer, will leave PGIM Real Estate at the end of September 2019. Therefore, will step down from Terrafina’s Technical Committee.
Enrique Lavín Treviño will replace Alfonso Munk as a member of Terrafina’s Technical Committee. Enrique, who is Managing Director and head of Mexico for PGIM Real Estate, has been closely involved in the definition and execution of Terrafina’s strategy since its inception.
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Terrafina (TERRA13.MX) 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, Bajio and Northern regions of Mexico. It is internally managed by highly-qualified industry specialists and externally advised by PGIM Real Estate.
Terrafina owns 299 real estate properties, including 288 developed industrial facilities with a collective GLA of approximately 41.7 million square feet and 11 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 to its management and corporate governance structure. For more information, please visit www.terrafina.mx.
About PGIM Real Estate
PGIM, the global investment management business of Prudential Financial, Inc. (NYSE: PRU), is one of largest real estate investment managers in the world, with more than $173.5 billion in gross real estate assets under management and administration, as of 30 June 2019. Through its PGIM Real Estate and PGIM Real Estate Finance businesses, PGIM leverages a 140-year history of real estate lending on behalf of institutional and middle-market borrowers², a 49-year legacy of investing in commercial real estate on behalf of institutional investors, and the deep local knowledge and expertise of professionals in 31 cities around the world.
¹AUA equals $US34.5 billion.
²Includes legacy lending through PGIM’s parent company, Prudential Financial, Inc.
About Prudential Financial, Inc.
Prudential Financial, Inc. (PRU), a financial services leader with more than US$1.5 trillion of assets under management as of March 31, 2019, has operations in the United States, Asia, Europe, and Latin America. Prudential’s diverse and talented employees are committed to helping individual and institutional customers grow and protect their wealth through a variety of products and services, including life insurance, annuities, retirement-related services, mutual funds and investment management. In the U.S., Prudential’s iconic Rock symbol has stood for strength, stability, expertise and innovation for more than a century. For more information, please visit www.news.prudential.com.
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 is not an indicator to anticipate future performance.