The real estate investment trust, Fibra Mty , acquired a stabilized class A industrial warehouse for approximately 105 million dollars (mdd) in León, Guanajuato, which has a rentable area of almost 82,250 square meters (m 2 ) .
According to the firm, the property, less than a year old, is occupied by Mercado Libre , one of the leading e-commerce companies in Latin America, it was reported in a statement.
“Fibra Mty’s industrial portfolio will continue to maintain a predominance of light manufacturing properties with a highly selective component of logistics facilities. This acquisition is part of a strategy to capitalize on the sector’s sustained growth and strengthen the relationship with the tenant, adding a second property leased to the same company,” said Jorge Ávalos Carpinteyro, CEO of Fibra Mty.
With this transaction, Fibra Mty would advance in fulfilling its investment strategy, reaching more than 75% of its target of up to $700 million .
“In addition, following the acquisition, the portfolio’s performance will be strengthened by increasing the average lease term to more than five years, reducing the average property age to less than 13 years, and increasing exposure to dollarized revenues to an average of 85%,” the company said.
It will also help increase the share of revenue from industrial logistics properties to above 23% by December 31, 2024, to be comparable with figures reported in the fourth quarter of 2024.
The trust indicated that the lease is denominated in dollars and has a remaining term of seven years.
“The operating structure of the contract is triple net (NNN) plus reimbursement of the management fee, meaning the tenant pays, in addition to the rent, maintenance costs, insurance, property taxes, and the management fee for the property,” he explained.
In this regard, net operating income for the first 12 months following the acquisition is estimated to be approximately $7.6 million .
The transaction was approved by the Fibra Mty Technical Committee and the Federal Economic Competition Commission (Cofece) , and is subject to the execution of the corresponding definitive contracts in accordance with applicable legislation and the terms of the Fibra Mty Trust.
The acquisition is part of Fibra Mty’s strategy to leverage the sustained growth in this sector and strengthen its relationship with Mercado Libre, as this is the second property leased to the same company.
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