New York, NY, Dec. 04, 2023 (GLOBE NEWSWIRE) —
Joe Sitt, Chairman of leading global real estate firm, Thor Equities Group, appeared on Bloomberg TV’s Wall Street Week on December 1st to discuss investment opportunities throughout Mexico, a country he has been actively investing and developing in for over a decade.
On Wall Street Week, Joe Sitt reflected on his portfolio in Latin America which he began assembling in 2008 with the establishment of Thor Urbana, the Latin American division of Thor Equities Group. As one of the top development companies in Mexico, Thor Urbana has built a widespread portfolio including industrial parks – which Mr. Sitt believes to be “a golden opportunity”. He spoke about the industrial sector’s strong fundamentals and promising growth outlook as the country has benefited from e-commerce, nearshoring, and trade wars in recent years. As the United States’ primary trading partner, Mexico’s top exports include tequila, beer, avocados, and auto parts; and has potential to grow in industries including medical equipment, electrical machinery and equipment, appliances, game consoles, plastic, furniture, and more. He surmised “Mexican culture has gone global” with the exportation of tequila and beer booming, and the country has been the perfect answer to the United States’ economic troubles. He went on to share Mexico has “gotten much more sophisticated when looking at medical products, electric vehicles, battery manufacturing [and] Mexico is right up there, and just as good if not better than building in China”. On the topic of geopolitics and the upcoming election’s impact on the real estate market, Mr. Sitt discussed his optimism and excitement for the future of the thriving business community. Mexico will have its first female president in the country’s history and “both candidates are pro-business, listeners, touching their communities, and really caring about constituents at all levels”.
Since 2008, Thor Urbana has developed more than 20 million square feet of real estate and amassed a portfolio exceeding $3.5 billion USD. The company develops lifestyle retail centers, luxury hotels, residential communities, corporate offices, and industrial parks in cities including Mexico City, Guadalajara, Playa del Carmen, Cancun, Merida, Metepec, Los Cabos, Tulum, San Luis Potosi, Tijuana, Riviera Nayarit, and Belize. Thor Urbana has partnered with several of the hospitality business’ most renowned brands to develop the Ritz Carlton Mexico City, Montage Los Cabos, Thompson Playa del Carmen, Four Seasons Caye Chapel Belize, and more.
When comparing Mexico to other markets such as Europe, another market Thor Equities Group is active in, he concluded “a lot of early low hanging fruit in Europe has been mined, and the opportunities are because of the dislocation of financial markets”. Thor Equities Group holds offices in nearly every metropolitan city in Europe and has been especially active in Spain’s industrial market in recent years.
Mr. Sitt’s full interview can be found on Bloomberg TV .
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About Thor Equities Group
Thor Equities is a leader in the development, leasing and management of industrial, laboratory, residential, office, hotel and mixed-use assets in premier urban locations worldwide. The company operates in major cities around the globe and has a property portfolio totaling $20 billion with a development pipeline in excess of 50 million square feet. Thor has a strong presence on three continents and in addition to its US holdings, the company has assets in European gateway cities including London, Paris, Madrid, and Milan, and is the largest developer in Mexico through its Latin American division with a development pipeline of over 20 million square feet. Thor maximizes returns for institutional investors by recognizing a property’s potential, reducing operating expenses, increasing tenant satisfaction, and leveraging market trends to maintain a long-term competitive edge. For more information, visit www.thorequities.com.
CONTACT: Katie Smith Thor Equities Group 5514867218 ksmith@Thorequities.com
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