Prudential Mortgage Capital Company announced on December 2 that they would be providing $160 million in financing for 21 industrial facilities in Mexico. The financing will be provided to a co-investment venture managed by San Francisco-based Progolis, L.P. ,an operator and developer of industrial real estate.

Prudential Mortgage Capital Company (PMCC), an arm of Prudential Financial Inc., Newark NJ, (NYSE:PRU) is actually refinancing an existing loan that they have with Progolis. The fixed-rate, five-year refinancing which is secured by 21 industrial buildings in Mexico City and Guadalajara which are 95% comprised of subsidiaries of, or leading multinational companies with experience in the region.

“The significant improvement in Mexico’s economy over the past couple of years along with continued manufacturing growth bodes well for Mexico’s industrial real-estate sector,” said Elizabeth Velazquez a director with PMCC who, along with Frederick van Overbeek, a principal with PMCC, led the transaction.

However, Mexico’s growing economy is often overshadowed by its growing cartel violence and Guadalajara, Mexico’s second largest city, which for a long time was afforded immunity from the caustic violence that has dogged cities to the north is now experiencing its share of beheadings and random shootings. A Prudential spokesman, when asked about the speading violence is Jalisco state where the city is located said, “As with any transaction, PMCC employs an extensive due diligence process in the underwriting of its loans that take economic, political, and several other factors into consideration.”