new vehicle

Terrafina, a investment trust specialized in industrial properties, announced the creation of a new parallel investment vehicle –or sidecar– to take better advantage of Mexico’s attractiveness for nearshoring, a trend that specialists expect to continue this year.

The vehicle, formed jointly with an international pension fund related to the international property manager PGIM Real Estate, will be focused on the acquisition, development, leasing and management of industrial assets located in strategic markets.

For this, the sidecar will have an initial capital of 200 million dollars, however, the joint investment could amount to between 450 and 500 million dollars. With this, it will be able to carry out the acquisition of class A industrial properties and development activities during an investment term of two to three years.

With this new investment vehicle, Terrafina sees opportunities not only in the manufacturing or industrial real estate sector, but also in the financial, transportation, energy and materials, health, and even electric vehicles, electronics, and logistics sectors.

For the trust, the benefits of the parallel vehicle, in addition to avoiding dilution for the owners of their bonds, lie in a greater amount of resources for new investments and a greater growth in their income, net operating income, among others.

Tesla, el American manufacturer of electric vehicles, reduced the prices of some units that it sells in the United States by almost 20%, in order to attract new buyers at a time of concern for investors about a possible decline in demand.

The cuts, which include Tesla’s line of vehicles, are likely to allow some consumers to qualify for the US government’s $7,500 tax credit aimed at boosting the purchase of electric cars.

The company slashed the price of its base Model Y by nearly 20% to $52,990, excluding certain taxes. That allows buyers to qualify for the tax break by putting the price of the vehicle below a $55,000 limit. The 14% cut on a high-performance version of its Model 3 sedan, now priced at $53,990, also puts it in the price range needed for buyers to receive the tax break.

La fintech Argentina Ualá announced the launch of a new payment service for electricity, water and gas services, as well as the possibility of recharging airtime without commissions for its customers in Mexico.

The company said that its users will be able to pay the bills for those services just by entering the payment reference number and the amount. They will also have the opportunity to recharge time only by selecting the option within the Ualá application and entering the telephone number.