5 Aug 2008
DENVER & MEXICO CITY--(BUSINESS WIRE)--Mexico Retail Properties (MRP), a leading developer and operator of retail centers in Mexico, announced today a capital infusion that will position the company and its affiliates for significant future growth in Mexico and throughout Latin America.MRP Co (LP) Pte Ltd, an affiliate of Government of Singapore Investment Corporation Real Estate (GIC Real Estate), is investing a combination of debt and equity in MRP’s operating platform and second Mexico-focused investment vehicle. These commitments will provide MRP with the resources to pursue its long-term development and acquisitions pipeline in Mexico for years to come. GIC Real Estate is one of the top real estate investors in the world, with over 200 investments in more than 30 countries across the globe.
Since opening its first center two years ago, MRP has become one of the largest developers, owners and operators of retail centers in Mexico. MRP’s portfolio consists of 14 fully-operational retail centers, composed of 9 open-air centers and 5 enclosed malls. In addition, 5 projects are under development and another 21 near-term projects are in its pipeline. The anchor space in the majority of MRP’s centers is leased to Wal-Mart, with other anchors including Home Depot and leading Mexican retailers. MRP has signed 22 Wal-Mart leases and is now one of the largest owners of Wal-Mart anchored centers in Mexico.
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