MEXICO CITY-A subsidiary of Norwalk, CT-based GE Real Estate. has acquired a five-million-sf industrial portfolio in Mexico. Intramerica Real Estate Group purchased the portfolio from Juarex, Mexico-based Intermex. No financial details of the transaction or locations were released.
"The sale of this portfolio is congruent with Intermex's business strategy of developing and selling real estate," says Guillermo Medrano, Intermex managing director. "Intermex looks forward to expanding its relationship with GE in the near future, which spans more than 10 years."
Intramerica Properties Chihuahua, a subsidiary of Intramerica Real Estate Group, will manage the portfolio. The deal brings Intramerica's portfolio to more than 17 million sf of industrial space involving approximately 200 properties in 19 cities in Mexico.
"This acquisition reflects the number of excellent real estate investment opportunities in Mexico and underscores our strong commitment to the market," says Diego Semper, managing director of Intramerica Real Estate Group. "This purchase enables Intramerica to increase its real estate portfolio in the local market with nine new locations. It also helps boost our overall position as a leading operator of industrial real estate in Mexico."
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