January 18, 2017 / 12:39 AM / 7 months ago

Mexico's Terrafina acquires 51 properties for $422 million

MEXICO CITY, Jan 17 (Reuters) - Mexican real estate investment trust (REIT) Terrafina said on Tuesday it had acquired two portfolios comprising a total of 51 properties for $422 million to strengthen its position in the manufacturing sector in Mexico.

The firm, Fibra Terrafina, said in a statement the portfolios were located in northern and central Mexico.

The REITs, known in Mexico as Fibras, issue certificates that function in a similar way to shares on the local stock exchange, and allow investors to participate in the Mexican property market without owning buildings. (Reporting by Noe Torres; Editing by Lisa Shumaker)

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