Terrafina Earmarks US$47 Million for Three Northern Developments

The real estate investment trust Terrafina will allocate 47 million dollars for the development of three industrial properties in Ciudad Juarez, Chihuahua, and Apodaca, Nuevo Leon.

Through a relevant event sent to the Mexican Stock Exchange (BMV), the trust informed that the three class A properties together will add 800,000 square feet to its portfolio.

"These developments are expected to require a total investment of US$47 million and are estimated to generate US$4.5 million in annualized net operating income (NOI)," the company stated.

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