Terrafina Announces Appointment of New Independent Technical Committee Member

terrafina
Mexico City, September 22, 2021 – Terrafina (“TERRA”) (BMV: TERRA13), a leading Mexican industrial real estate investment trust (“FIBRA”), externally advised by PGIM Real Estate and dedicated to the acquisition, development, lease, and management of industrial real estate properties in Mexico, announced today that, Timothy J. Pire has been appointed as an independent member of the Technical Committee. 
 
Mr. Pire has over 30 years of professional experience across several functions in the real estate industry. In his several positions he developed an extensive leadership track record in REIT management where he was responsible for fund raising, investments, P&L management, and operations at different real estate platforms across the United States, Asia, and Europe. In addition, Mr. Pire is a Professor at the University of Wisconsin, Madison for MBA students with a specialty in real estate and holds a board position with AREIT.
 
Most recently, Mr. Pire served as an independent board member at Monogram Residential Trust, where he chaired the Audit Committee. Previously, he spent over 26 years at Heitman LLC, where his last position was as Chief Investment Officer, Senior Managing Director, and Global Strategist for the Public Securities Unit. In that position he led the public securities investment function and assisted in providing firm-wide global economic and real estate outlooks. Mr. Pire holds a BBA in Banking and Finance and an MBA focused on real estate from the University of Wisconsin, Madison. He is a Chartered Financial Analyst (CFA), and a National Association of Corporate Director Governance Fellow. He is also an active member of the National Association of Real Estate Investment (NAREIT) where he is member of the Institutional Investor Committee.
 
Alberto Chretin, CEO and Chairman of Terrafina’s Technical Committee commented: “As part of our continuous commitment to strengthen our corporate governance with independent business leaders in our Technical Committee, I am pleased to welcome Tim Pire, who with his ample international industrial real estate experience, will contribute to Terrafina’s growth. Additionally, we would like to thank our partner PGIM Real Estate, who had an important role in the search and recommendation of a pool of international candidates that were evaluated by the Nominations Committee.”

 

Miranda Newswire – Full Press Release: Download PDF

 

Investor Relations Contact Details

Francisco Martinez
Investor Relations Officer
Tel: +52 (55) 5279-8107
E-mail: francisco.martinez@terrafina.mx

Ana Maria Ybarra
Miranda IR
Tel: +52 (55) 3660-4037
E-mail: ana.ybarra@miranda-ir.com

 
About Terrafina
Terrafina (BMV:TERRA13) is a Mexican real estate investment trust formed primarily to acquire, develop, lease and manage industrial real estate properties in Mexico. Terrafina’s portfolio consists of attractive, strategically located warehouses and other light manufacturing properties throughout the Central, Bajio and Northern regions of Mexico. It is internally managed by highly qualified industry specialists and externally advised by PGIM Real Estate.
Terrafina owns 283 real estate properties, including 274 developed industrial facilities with a collective GLA of approximately 38.9 million square feet and 9 land reserve parcels, designed to preserve the organic growth capability of the portfolio. Terrafina’s objective is to provide attractive risk-adjusted returns for the holders of its certificates through stable distributions and capital appreciations. Terrafina aims to achieve this objective through a successful performance of its industrial real estate and complementary properties, strategic acquisitions, access to a high level of institutional support, and an effective management and corporate governance structure. For more information, please visit www.terrafina.mx/en.
 
About PGIM Real Estate
As one of the largest real estate managers in the world with $195.4 billion in gross assets under management and administration1, PGIM Real Estate strives to deliver exceptional outcomes for investors and borrowers through a range of real estate equity and debt solutions across the risk-return spectrum. PGIM Real Estate is a business of PGIM, the $1.7 trillion global asset management business of Prudential Financial, Inc. (NYSE: PRU).
PGIM Real Estate’s rigorous risk management, seamless execution, and extensive industry insights are backed by a 50-year legacy of investing in commercial real estate, a 140-year history of real estate financing2, and the deep local expertise of professionals in 31 cities globally. Through its investment, financing, asset management, and talent management approach, PGIM Real Estate engages in practices that ignite positive environmental and social impact, while pursuing activities that strengthen communities around the world. For more information visit www.pgimrealestate.com.
1As of June 30, 2021. Includes US$43.3 billion in assets under management (AUA).
2 Includes legacy lending through PGIM’s parent company, PFI.
 
About PGIM and Prudential Financial, Inc.
PGIM, the global asset management business of Prudential Financial, Inc. (NYSE: PRU), ranks among the top 10 largest asset managers in the world1 with more than $1.7 trillion in assets under management as of June 30, 2021. With offices in 16 countries, PGIM’s businesses offer a range of investment solutions for retail and institutional investors around the world across a broad range of asset classes, including public fixed income, private fixed income, fundamental equity, quantitative equity, real estate and alternatives. For more information about PGIM, visit pgim.com.
Prudential’s additional businesses offer a variety of products and services, including life insurance, annuities and retirement-related services. For more information about Prudential, please visit news.prudential.com.
Prudential Financial, Inc. of the United States is not affiliated in any manner with Prudential plc, incorporated in the United Kingdom or with Prudential Assurance Company, a subsidiary of M&G plc, incorporated in the United Kingdom.
1 Prudential Financial, Inc. (PFI) is the 10th largest investment manager (out of 527 firms surveyed) in terms of global assets under management based on Pensions & Investments’ Top Money Managers list published on June 1, 2020. This ranking represents global assets under management by PFI as of March 31, 2020. 
 
Forward Looking Statements
This document may include forward-looking statements that may imply risks and uncertainties. Terms such as “estimate”, “project”, “plan”, “believe”, “expect”, “anticipate”, “intend”, and other similar expressions could be construed as previsions or estimates. Terrafina warns readers that declarations and estimates mentioned in this document, or realized by Terrafina’s management imply risks and uncertainties that could change in function of various factors that are out of Terrafina’s control. Future expectations reflect Terrafina’s judgment at the date of this document. Terrafina reserves the right or obligation to update the information contained in this document or derived from this document. Past or present performance is not an indicator to anticipate future performance.

Share our news:

Share on linkedin
LinkedIn
Share on twitter
Twitter
Share on whatsapp
WhatsApp
Share on email
Email

Latest News