Terrafina in $610 Million Initial Public Offering

March 25, 2013

Cleary Gottlieb represented Terrafina, a real estate investment trust (fideicomiso de inversión en bienes raices, or “FIBRA”) anchored by a large industrial portfolio, in the company’s recent $610 million initial public offering of Real Estate Trust Certificates. The offering was comprised of an initial public offering on the Mexican Stock Exchange and a Rule 144A/Reg S offering in the United States and outside of Mexico and the United States. The transaction closed on March 25, 2013.

Terrafina is a FIBRA targeting industrial real estate opportunities in Mexico. Terrafina’s initial portfolio consists of 146 real estate properties, including 132 developed industrial facilities and 14 land reserve parcels located across 25 cities in 16 Mexican states. Terrafina will be advised by an affiliate of PREI Latin America, the Latin America business of Prudential Real Estate Investors. PREI Latin America is one of the largest real estate investment managers in Latin America and has been investing in the region since 2002.

Terrafina’s initial public offering is the first public listing in Mexico of a FIBRA exclusively targeting industrial real estate and the seventh Mexican equity offering in which Cleary Gottlieb has acted as special U.S. counsel within the last 12 months.