(MEXICO CITY) – Hines, the global real estate firm, has launched a new investment program with a major global institutional investor that will develop best-in-class logistics buildings and industrial parks in the major population centers across Mexico. The venture has already secured an initial capitalization of $300 million with capacity to invest up to $900 million for the acquisition of greenfield sites across Mexico and the development of next generation industrial and logistics assets.
“With the launch of HGM, Hines can build on the international Class A standards of our industrial and logistics projects across Mexico and attract some of the most prominent and respected international tenants, who prioritize the access, functionality and productivity associated with operating at a Hines business park,” stated Palmer Letzerich, senior managing director and head of logistics for Southwest region at Hines. “Whether our tenants are in a Hines Park in Dallas, Denver, Tijuana or Mexico City, we strive to deliver the same product and high standard of care to ensure that our tenants’ operations and employees are more productive in our parks.”
HGM is already active with two new development projects in Mexico City and Tijuana that will be the highest quality offering in the market. The first is a 250-acre site in northern Mexico City, where Hines will develop a 2.7 million-square-foot business park offering a variety of building configurations and land for sale to end-users. The second is Tijuana Technology Park, an 80-acre site in Tijuana where Hines is developing a 780,000-square-foot light industrial park. With these two projects, Hines is building on the recent successes of its completed developments in Mexico including, Parque Industrial TecnolĂłgico IV, a 1.5 million-square-foot multi-tenant light industrial park in Guadalajara and Convento City Park, a 1.8 million-square-foot multi-tenant logistics park in Mexico City. HGM has additional capacity to invest and is actively seeking urban infill sites for last mile distribution and larger suburban sites for the development of large modern distribution centers to add to the portfolio of options within this growing region.
Rodrigo Peredo, managing director at Hines stated, “This new venture gives Hines the flexibility to not only develop the large scale, multi-building industrial parks that Hines is known for but also to selectively pursue smaller, standalone infill developments inside the urban core. Hines’ extensive industrial and logistics experience proves the firm can build and deliver best in class product to capture quality tenants and achieve market setting values upon completion.”
About Hines
Hines is a privately owned global real estate investment firm founded in 1957 with a presence in 285 cities in 28 countries. Hines oversees investment assets under management totaling approximately $90.3 billionÂą. In addition, Hines provides third-party property-level services to 373 properties totaling 114.2 million square feet. Historically, Hines has developed, redeveloped or acquired approximately 1,530 properties, totaling over 511 million square feet. The firm currently has more than 198 developments underway around the world. With extensive experience in investments across the risk spectrum and all property types, and a foundational commitment to ESG, Hines is one of the largest and most-respected real estate organizations in the world. Visit http://www.hines.com for more information.
ÂąIncludes both the global Hines organization as well as RIA AUM as of December 31, 2021.
