Vesta is a leading real estate Mexican company focused on the development and operation of high-quality industrial properties, including both warehousing and industrial parks serving light manufacturing, logistics, and last mile tenants. Founded in 1998, the Company is deemed one of the main players in the sector. As of September 2024, Vesta owned 221 operational Class A industrial buildings, with a total GLA of 39.1 million sqft. Vesta is recognized for its high-quality operations and strong corporate governance, which has enabled the Company to attract both local and international institutional investors.

Vesta is a publicly traded corporation listed on the Mexican Stock Exchange (BMV) and in the New York Stock Exchange (NYSE) markets with a total of 94.2% of floating shares. The Company went public in 2012, raising US$ 286 million in its initial public offering (IPO) on the BMV, followed by three additional offerings that raised ~US$ 680 million. In 2023, Vesta listed American Depositary Receipts (ADRs) on the NYSE, raising ~US$ 600 million in its first listing and in a subsequent follow-on offering.                                           

 The total facility size stands at US$545 million. IFC contributed with US$100 million to the facility.

  Vesta is headquartered in Mexico City. The project is located in Mexico.

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This is a Category B project according to IFC's Policy on Environment and Social Sustainability (2012), as it is expected to have potential limited adverse E&S risks and/or impacts that are few, generally site-specific, largely reversible, and readily addressed through mitigation measures. Key E&S issues and risks potentially identified (based on a limited sample Vesta’s IPs in Mexico City and Guadalajara as referred to above) are (i) adequacy of the existing E&S management system (ESMS); (ii) E&S assessment for site selection, pre-construction and/or acquisition of IPs; (iii) labor and working conditions; (iv) OHS; (v) contractor management; (vi) life and fire safety (L&FS); (vii) community health and safety; and (viii) stakeholder engagement and grievance mechanism.