HFI’s border industrial thesis is centered around Laredo, Texas, the #1 port in the US and the epicenter of nearshoring-related logistics in the Americas. Laredo sits in a highly strategic location at the beginning of I-35 in the US and the end of Highway 85 in Mexico, which connects to Monterrey, the industrial capital of Mexico. As both geopolitics and traditional economics shift to shorten and fortify supply chains, significant manufacturing activities have moved and are continuing to move from Asia / Europe to North America. Mexico has become a primary beneficiary of this dynamic and in 2023 overtook China to become the US’s largest trading partner. HFI’s first two projects in Laredo are two ground-up developments totaling 150,000 SF. HFI is actively looking to buy and/or partner on land acquisitions in Laredo to develop Class A warehouses in highly strategic locations as intra-North American trade balloons.