
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.