VESTA ACQUIRES LAND RESERVES IN TLAXCALA TO DEVELOP INDUSTRIAL BUILDINGS
Mexico City, April 9, 2014 – Corporación Inmobiliaria Vesta, S.A. B. de C. V. (“VESTA”) (BMV: Vesta), one of the leading pure play industrial real estate developers in Mexico, announced today the acquisition of land reserves amounting to 11.3 hectares within the Industrial City Xicoténcatl II (“CIX II”) located in Huamantla City, Tlaxcala, in which the Company plans to develop up to 50,000 square meters of gross leasable area in three multi-tenant buildings.
The main goal of this industrial park is to meet the demand of suppliers in the automobile sector that need to be in close proximity to the new AUDI plant located in San Jose Chiapa, Puebla, where the Q5 model will be manufactured, starting in 2016.
The project to be developed, denominated as "Vesta Park Tlaxcala I", is located within CIX II, in Tlaxcala, allowing immediate access to Federal Highway 136, which connects the northern pass with the new accesses that are being built, and the qualified labor area that is located there. "Vesta Park Tlaxcala I" is located approximately 25 kilometers away from the new AUDI plant and will facilitate our future tenants with “just in time” deliveries of autoparts.
The new development will turn into a world-class industrial park specialized in the automobile industry. The park construction will begin in May of this year, and the first buildings will be completed by the end of the year, so any company that decides to establish onsite can begin operating in 2015.
The total investment considering the acquisition of the land, infrastructure and the industrial buildings, will amount to Ps. 290 million.
Vesta will continue acquiring land reserves in the zone with the goal of satisfying the growing demand for industrial space in this region.
Vesta is a real estate owner, developer and asset administrator of industrial buildings and distribution centers in Mexico. As of December 31, 2013, Vesta owned 102 properties located in modern industrial parks in 12 states of Mexico totaling a GLA of 1.34 million square meters. The Company has multinational clients, which are focused in industries such as aerospace, automotive, food and beverage, logistics, medical devices, and plastics, among others. For additional information visit: www.vesta.com.mx.
Note on Forward-Looking Statements
This press release may contain certain forward-looking statements and information relating to the Company that reflects the current views and/or expectations of the Company and its management with respect to its performance, business and future events. Forward looking statements include, without limitation, any statement that may predict, forecast, indicate or imply future results, performance or achievements, and may contain words like “believe,” “anticipate,” “expect,” “envisages,” “will likely result,” or any other words or phrases of similar meaning. Such statements are subject to a number of risks, uncertainties and assumptions. We caution you that a number of important factors could cause actual results to differ materially from the plans, objectives, expectations, estimates and intentions expressed in this presentation and in oral statements made by authorized officers of the Company. Readers are cautioned not to place undue reliance on these forward-looking statements, which speak only as of their dates. The Company undertakes no obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise.
Investor Contact in Mexico
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Released April 9, 2014