Fibra MTY , a real estate investment company, reported a 24% increase in its Net Operating Income (NOI) from its properties in the first quarter of 2025 (1Q25) and the acquisition of a property for $106 million from Mercado Libre, as part of its growth agenda.
“Net operating income from the same properties increased 24% compared to the first quarter of 2024 (1Q24), driven by the completion of several expansion projects, higher rents from commercial activity, and the performance of the peso against the dollar. This progress is also reflected in the approximate 30% growth in the value of investment properties over the last 12 months,” said Jorge Ávalos Carpinteyro, CEO of Fibra Mty.
The company also reported that it closed 1Q25 with a total return of 11.1% and total assets of 46,572.7 million pesos (mdp) , 117 properties in its portfolio, including 93 for industrial use, 18 for office use and six for commercial use.
In addition, its Gross Leasable Area (GLA) amounted to 1,889,801 square meters (m²) with an occupancy rate of 95.3% and its land reserve remained at a total of 912,546 m² .
Buy from Mercado Libre
Fibra MTY announced the acquisition of an industrial property with a total GLA of approximately 82,250 m² , 100% occupied by Mercado Libre in León, Guanajuato, for $106 million.
“On April 9, 2025, we completed the acquisition of a property with approximately 82,250 m² of gross leasable area, fully occupied by Mercado Libre, positioning it as one of our most significant tenants since the acquisition. It’s important to mention that, although we maintain our focus on industrial properties for light manufacturing, this transaction strengthens our participation in logistics warehouses and improves the portfolio’s ability to perform across different economic cycles,” said Ávalos.
Finally, the executive commented on the tariffs imposed by U.S. President Donald Trump and the benefit of integrating exports into the United States-Mexico-Canada Agreement (USMCA) . He said that the continued tariff-free trade under the USMCA further incentivizes long-term commitments to Mexico, especially in the industrial real estate sector.
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