Moving quickly
In the past, Mexican pension funds have not been allowed to be used for real estate investing but a recent banking regulatory change has opened a new market segment that Prudential Financial plans to meet head on, announcing they will raise $500 million from local pension funds by the first quarter of 2010 for investing in industrial buildings.
Prudential’s research director for Latin America, Paulo Gomes told Reuters that “the investment objective is industrial buildings, light manufacturing, distribution centers.”
Mexico’s private pension fund industry, manages the equivalent of $85 billion in retirement savings. American agents have been reaching out to the Latin America market through sites like Viva Real and success of the wallets of Mexico ultimately means more investment in Mexico and second homes as well as commercial investment of returns into America.
