Fibra Nova plans a new capital issue in 2023

Fibra Nova, a real estate investment trust in the industrial, commercial and educational sectors, is analyzing a subsequent issuance of capital for up to 3,000 million pesos next year on the Mexican Stock Exchange.

“We are evaluating making a capital increase of close to 3,000 million pesos in the coming months (for now) we are waiting to obtain the authorizations, both from our committees and from our assemblies,” said the director of Finance and Administration of Fibra Nova, Luis Carlos Pinon.

He said that this placement will depend on the opening of “a more adequate window of time in the market.”

The capital they seek to raise, he said, will be used to refinance their debt, as well as to finance their expansion plan focused mainly on increasing their participation in the industrial real estate sector in which they currently have projects underway in the north of the Mexican Republic.

“For now we do not see any other type of property in which the resources are going to be allocated, originally it is for everything that helps grow our industrial portfolio that collects rents in dollars,” said the manager.

The industrial real estate sector continues to register a strong demand for spaces in the face of the nearshoring trend, as foreign companies are relocating or moving their operations to Mexico to be closer to the United States market, the CEO of Signum Research explained in a note, Armando Rodriguez.

Luis Carlos Piñón spoke about his real estate projects underway. He said that Fibra Nova is developing just over 683,000 square feet of industrial warehouses in Ciudad Juárez, Chihuahua, which they expect to finish in the coming months.

Additionally, in the city of Chihuahua they are building just over 490,000 square feet.

They are also about to announce the expansion of an industrial warehouse that is already rented and they are about to start the construction of just over 125,000 square meters of industrial warehouses.

“Without a doubt, these developments will represent significant growth for next year and we believe that despite everything that has happened with the increase in inflation and interest rates, we do not see the industry stop, there is a need for vacant spaces, especially Everything on the northern border of Mexico, we see the market very active,” he said.

judith.santiago@eleconomista.mx