Vesta Finalizes Portfolio Sale For US$ 107.8 Million

MEXICO CITY, Dec. 8, 2021 /PRNewswire/ -- Corporación Inmobiliaria Vesta, S.A.B. de C.V. ("Vesta") (BMV: VESTA), one of Mexico's leading pure play industrial real estate developers, today announced the fulfillment of conditions and successful completion of the sale of a portfolio ("the Portfolio") comprised of two industrial properties equivalent to 1,371,129 square feet located in Querétaro and Ciudad Juárez, as was announced on July 27, 2021. The Portfolio was sold for US$ 107.8 million, corresponding to the full amount so agreed.

"We are very pleased with the outcome of our most recent portfolio sale, where our asset recycling strategy was executed seamlessly and successfully per our Level 3 Strategy," commented Lorenzo Dominique Berho, CEO of Vesta. "Vesta's exceptional properties continue to attract premier tenants, and the proceeds from this sale enables us to strengthen Vesta's balance sheet while gaining financial flexibility to continue investing in the development of high quality buildings, focusing on the regions with highest growth in the country aligned with our growth strategy."

About Vesta

Vesta is a best-in-class, fully integrated real estate company that owns, manages, acquires, sells and develops industrial properties in Mexico. As of September 30, 2021, Vesta owned 189 properties located in modern industrial parks in 15 states of Mexico totaling a GLA of 31.6 million ft2 (2.9 million m2). The Company has multinational clients, focused on industries such as consumer retail, aerospace, automotive, food and beverage, logistics, medical devices and plastics, among others. For more information visit: 

Forward-looking statements

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SOURCE Corporación Inmobiliaria Vesta, S.A.B. de C.V.