December 8, 2023

ProximityParks Successfully Concludes The First Closing Of ProximityParks Fund II

ProximityParks Appoints Azul Argüelles as Chief Financial Officer

ProximityParks successfully concluded the first closing of its Fund II, which will strengthen its expansion plans in Mexico.

ProximityParks Fund II marks the next stage for the company, with plans to continue building the largest, most diversified, profitable, and sustainable portfolio of last mile logistics industrial real estate in Mexico.

The innovative business model, data-analytics tools, customer focus, and commitment to sustainability are the key differentiators that have driven the company's success, earning the trust of customers and private and institutional investors, in Mexico and abroad.


December 8th, 2023–ProximityParks, the pioneering company in last mile logistics industrial parks in Mexico, announced the first closing of its Fund II. This second fund has successfully secured $3,274.5 million pesos (approx. $190 million USD) in its initial phase, from national and foreign investors, including some of the major pension fund administrators (AFORES) in Mexico.

The First Closing of Fund II represents a remarkable milestone for the company, increasing the total capital under its management to over $5,500 million pesos (approx. $320 million USD). In line with its business strategy, ProximityParks will continue to expand its real estate portfolio, which currently covers more than 270 thousand square meters (approx. 3 million square feet) in urban areas of Mexico City, Monterrey, and Guadalajara. 

The company aims to continue providing its clients, including e-commerce and third-party logistics companies, with state-of-the-art last mile logistics facilities in the highest-density residential and commercial areas. This enables companies to achieve faster, safer, more eco-friendly, and profitable deliveries, thereby facilitating the growth of the e-commerce, parcel, and urban logistics industries.

Fund I was launched in 2019 to address the anticipated growth in the e-commerce industry, with capital from family offices and private investors from North America, Europe and Asia. Investors recognized the great potential offered by ProximityParks as the pioneers in the industry in Mexico, and by its pure-play focus on this investment thesis. In addition to the repeating Fund I investors, Fund II also features significant participation from institutional investors.

ProximityParks will invest the Fund II capital following its strategic approach and rigorously analyzing each property with insights from its Logistics Intelligence department. As industry pioneers, ProximityParks stands out for implementing internally developed data-analytics tools and conducting comprehensive pre-acquisition evaluations to ensure all acquisition targets meet the strictest construction, logistics, legal, and environmental standards.

"We take immense pride in this new phase in ProximityParks' growth, which will undoubtedly bring significant challenges and opportunities, which we are prepared to overcome and capitalize on thanks to the world-class team we have built. We are committed to continuing to be the benchmark in our industry in terms of offering unique logistics spaces that are strategically located in high-value areas. Our focus continues to be on sustainability, innovation, customer service, and creating value for our clients, the environment, and our investors," commented Mario Berlanga, Co-Founder and CEO of ProximityParks.

‍"The successful raising of this second fund demonstrates the strength of ProximityParks as a vertically integrated world-class real estate investment firm. With this new fund, we will continue expanding our portfolio to facilitate the growth of e-commerce and urban logistics companies seeking to provide the best service to their customers in a sustainable manner," said Jaime Guerrero, Co-Founder and COO of ProximityParks.

The successful first closing of this new investment fund consolidates ProximityParks' position as the leading last mile logistics real estate owner/operator in Mexico. As well as reaffirms the company's commitment to contributing to the country's economic development through sustainable and long-term capital investments that generate thousands of direct and indirect jobs.

About ProximityParks 

ProximityParks is a vertically integrated real estate company, pioneering the introduction of last mile logistics industrial parks in the heart of densely populated cities to enable urban logistics and e-commerce. The company has redefined last mile logistics real estate through its data-driven approach, leveraging actionable logistics intelligence in investment and property design decisions to facilitate more efficient operations for its clients.

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