(El Advance) Equity International (EI), the privately held investor and builder of leading real estate companies outside of the United States, announced today the closing of a new investment in Advance Real Estate, an industrial developer in Central Mexico.

Headquartered in Querétaro, Advance develops, leases and manages Class A industrial real estate, primarily in the sought-after Bajío region of Central Mexico. Founded in 2007, the Company serves the growing needs of clients with traditional build-to-suits for multinational and domestic companies, and institutional-quality Business Parks that accommodate small and medium-sized enterprises. Advance has developed more than 479,000 square meters (approximately 5.1 million square feet) of industrial buildings in Central Mexico. The Company presently manages Parque Tecnológico Innovación Querétaro, a 70-hectare (approximately 173-acre) industrial park and two Business Parks. Advance’s pipeline includes additional land parcels in Celaya and León in Central Mexico along with opportunities in Mexico City, Guadalajara and Monterrey.

“EI was an early investor in Mexico’s industrial real estate sector, and we are delighted to return based on compelling new growth trends,” said Tom Heneghan, EI’s chief executive officer. “Advance’s co-founders, Manuel Barreiro, Fernando Romero and Gerardo Ruiz, bring significant operational and investment experience in the sector along with an extensive network of relationships across Mexico and specifically this region. We look forward to working with them to capitalize on the opportunities in this market.”

Mexico is seeing the return of large manufacturers thanks to its increased competitiveness and proximity to the U.S. which translates into reduced transit times and costs. The Bajío region in particular is experiencing significant investment from a number of manufacturing sectors including aerospace, electronics and automotive, due to its geographic positioning which enables easy access to the rest of Mexico, Latin America and the U.S.; highly skilled, less costly labor; and a more attractive security profile. Vacancy rates in the warehouse and distribution sector are low, and demand for institutional-quality space is rising. Advance is well positioned to deploy capital with an experienced management team, existing strategic land bank and an actionable pipeline.

“Equity International is recognized as a leading investor and partner for institutionally focused real estate companies worldwide,” said Manuel Barreiro, one of the Company’s Co-founders. “Their proven track record in corporate and industrial property in Mexico, Brazil and Colombia will be invaluable as we expand our platform.”

EI’s Brian Finerty and Cliff Payne will join the Company’s Board of Directors.