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    David Soto Soto

    Vice President and Equity Research Analyst at Scotiabank

    David Soto Soto is a Vice President and Equity Research Analyst at Scotiabank, specializing in the coverage of Latin American financial institutions. He has developed expertise analyzing major companies such as Grupo Aval, Banco de Bogotá, and Bancolombia, with a research track record recognized for timely market insights and actionable investment recommendations. Since joining Scotiabank in 2015 after roles at BTG Pactual and Citi, David has consistently delivered research coverage cited by institutional investors and has contributed to Scotiabank’s recognized regional financials platform. He is registered with securities regulatory authorities and holds both the CFA and FINRA Series 7/63 licenses.

    David Soto Soto's questions to Vesta Real Estate Corporation, S.A.B. de C.V. (VTMX) leadership

    David Soto Soto's questions to Vesta Real Estate Corporation, S.A.B. de C.V. (VTMX) leadership • Q4 2024

    Question

    David Soto Soto from Scotiabank asked about potential major risks to the development pipeline, such as tariffs or rising material costs. He also requested color on the marketing efforts for buildings pending lease-up in Juarez and Tijuana.

    Answer

    CEO Lorenzo Dominique Berho Carranza stated he sees no major effects from material costs, as Mexico is well-supplied and Vesta's use of third-party contractors mitigates risk. Regarding marketing, he highlighted Vesta's key differentiator: a vertically integrated model with local presence in each market. He noted that while they use third-party brokers, over 70% of leasing activity last year came from existing clients, underscoring the importance of their focus on high-quality tenants.

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