SAN FRANCISCO, Aug. 2 /PRNewswire-FirstCall/ -- AMB Property
Corporation® (NYSE: AMB), a leading owner, operator and developer
of global industrial real estate, today announced the formation of
AMB Mexico Fondo Logistico. The first of its kind industrial
venture for Mexican pension plans, this fund's investment strategy
is to develop, own, operate and manage properties mainly within
AMB's local target markets.
"This innovative fund matches AMB's local platform with local
capital," said Luis Gutierrez, SVP,
managing director, Mexico. "We are
pleased with the enthusiastic response to this offering and we are
excited about moving forward. Industrial real estate in
Mexico is an attractive investment
due to the country's economic growth, expanding consumer demand,
young population base and the recognized need for state-of-the-art
supply chain infrastructure."
AMB Mexico Fondo Logistico is expected to build a portfolio of
industrial properties that will be leased to Mexican and
multinational corporations. Taking advantage of the current
economic cycle, the fund will be built through acquisitions and the
development of properties. The offering, which was oversubscribed,
raised $3.3 billion pesos
(USD$260 million) from Mexican
institutional investors, predominantly private Mexican pension
plans known as AFORES. AMB will contribute 20% of the total equity,
or $65 million (at today's exchange
rate) at full deployment.
"We remain committed to this market and believe that industrial
real estate in Mexico will
translate to significant opportunities for AMB," said Eugene F. Reilly, president, Americas. "Since
entering Mexico eight years ago,
we have developed and acquired approximately 9.8 million square
feet in or near the country's major population centers. We are
confident that domestic investors will benefit from the unique
perspective of a global company with ready access to local
expertise."
Acciones y Valores Banamex Casa de Bolsa and Actinver Casa de
Bolsa represented AMB as structuring and placement agents in
connection with the offering.
AMB Property Corporation.® Local partner to global
trade.™
AMB Property Corporation® is a leading owner, operator and
developer of global industrial real estate, focused on major hub
and gateway distribution markets in the Americas, Europe and Asia. As of June 30,
2010, AMB owned, or had investments in, on a consolidated
basis or through unconsolidated joint ventures, properties and
development projects expected to total approximately 156.1 million
square feet (14.5 million square meters) in 48 markets within 15
countries. AMB invests in properties located predominantly in the
infill submarkets of its targeted markets. The company's portfolio
comprises High Throughput Distribution® facilities--industrial
properties built for speed and located near airports, seaports and
ground transportation systems.
Some of the information included in this press release contains
forward-looking statements, such as statements related to the
offering and the issuance and sale of the securities, the use of
the proceeds from the offering, the investment opportunities in
Mexico, and the business of the
fund, which are made pursuant to the safe-harbor provisions of
Section 21E of the Securities Exchange Act of 1934, as amended, and
Section 27A of the Securities Act of 1933, as amended. Because
these forward-looking statements involve numerous risks and
uncertainties, there are important factors that could cause our
actual results to differ materially from those in the
forward-looking statements, and you should not rely on the
forward-looking statements as predictions of future events. The
events or circumstances reflected in the forward-looking statements
might not occur. You can identify forward-looking statements by the
use of forward-looking terminology such as "believes," "expects,"
"may," "will," "should," "seeks," "approximately," "intends,"
"plans," "forecasting, " "pro forma," "estimates" or "anticipates"
or the negative of these words and phrases or similar words or
phrases. You can also identify forward-looking statements by
discussions of strategy, plans or intentions. Forward-looking
statements should not be read as guarantees of future performance
or results, and will not necessarily be accurate indicators of
whether, or the time at which, such performance or results will be
achieved. There is no assurance that the events or circumstances
reflected in forward-looking statements will occur or be achieved.
Forward-looking statements are necessarily dependent on
assumptions, data or methods that may be incorrect or imprecise and
we may not be able to realize them. We caution you not to place
undue reliance on forward-looking statements, which reflect our
analysis only and speak as of the date of this press release or as
of the dates indicated in the statements. All of our
forward-looking statements are qualified in their entirety by this
statement. We assume no obligation to update or supplement
forward-looking statements. The following factors, among others,
could cause actual results and future events to differ materially
from those set forth or contemplated in the forward-looking
statements contained in this press release: any material adverse
change in the financial or securities markets within or outside
the United States or in political,
financial or economic conditions within or outside the United States or any material outbreak or
material escalation of hostilities within or outside the United States or declaration by
the United States of a national
emergency or war or other material calamity or crisis within or
outside the United States,
including, without limitation, an act of terrorism, any suspension
or limitation of trading in securities generally or in any of the
securities of AMB by the SEC, by any exchange that lists such
securities or in any over-the-counter market, any declaration by
any governmental authority of a general banking moratorium, any
financial market fluctuations, actual or perceived changes in
general economic conditions, global trade or in the real estate
sector, inflation risks, an actual or perceived downturn in the
U.S., California or global
economy, and certain other matters discussed under the heading
"Risk Factors" and elsewhere in our annual report on Form 10-K for
the year ended December 31, 2009.
SOURCE AMB Property Corporation
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