Fibra Mty reaches an agreement to acquire 46 industrial buildings

The real estate investment trust Fibra Mty announced that it reached an agreement to acquire a portfolio consisting of 46 industrial ships located in 12 markets in the country, which have a gross rentable area of ​​822,052 square meters.

In a statement sent to its investors, Fibra Mty reported that the operation would be settled through a combination of cash, credit lines and capital.

“This transaction is subject, among other requirements, to approval by the Assembly of Holders of Fibra Mty and the selling party, to authorization or no objection by the Federal Economic Competition Commission (Cofece), to the respective purchase audit, as well as the negotiation and formalization of the corresponding final documents,” the trust detailed.

At the end of the third quarter of the year, Fibra Mty It had a portfolio of 60 properties, which are distributed as follows:

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• 35 in the sector industrial.
• 19 in the office sector.
• 6 in the commercial segment.

In total, the gross leasable area of ​​these 60 properties totals 818,864 square meters, which, at the close of last September, had an occupancy rate of 91.8 percent.

The nearshoring effect

According to Jorge Avalos Carpinteyro, general director of Fibra Mty, one of the trust’s commitments is to grow in the field of industrial spacesgiven the opportunity represented by the reconfiguration of supply chains, an effect known as nearshoring.

“Our primary focus on acquisitions remains on the sector industrialwith the aim of materializing the benefits of the unprecedented conditions of the sector, mainly due to the reconfiguration of supply chains (also known as nearshoring)”, explained in the trust report for the closing of the third quarter of 2022.

For the manager, the intention is to have a “more defensive” portfolio, which has the following characteristics:

• Larger scale.
• Major geographical distribution.
• Higher percentage of income in dollars.
• More predictable cash flows.