Fibra MTY finalized the acquisition of an industrial building in Guanajuato for approximately $24.1 million, an operation that strengthens its exposure to the Bajío manufacturing corridor and expands its participation in one of the country’s main automotive and export production hubs.
The transaction, previously announced in June of this year, was settled in full with available cash resources, which, according to the real estate investment trust, reflects its liquidity position and capital allocation strategy.
The acquired asset corresponds to a Class A industrial building with a Gross Leasable Area (GLA) of approximately 28,000 square meters, built on a plot of approximately 96,500 square meters.
One of the main attributes of the operation is that the property is already 100% occupied by a global company linked to the automotive supply chain, through a sale and leaseback scheme.
The lease agreement was structured under the absolute Triple Net (NNN) model, is denominated in dollars and will have a mandatory initial term of 10 years, in addition to considering annual adjustments according to the Consumer Price Index (CPI).
As a result of this acquisition, Fibra MTY estimates that the property will generate an approximate Net Operating Income (NOI) of $2.1 million during the first 12 months after the closing of the transaction .
The consideration includes an initial payment of $21.1 million, made upon completion of the purchase, as well as a second deferred payment of $3 million to be made two years later, subject to compliance with the contractual conditions established between the parties.
With this acquisition, Fibra MTY continues to strengthen the participation of industrial assets within its portfolio, a segment that has consolidated itself as one of the most dynamic, driven by the growth of manufacturing chains , the automotive industry, and the relocation of production operations in Mexico.
The company stated that this operation is part of its strategy of profitable growth through selective acquisitions that allow it to increase cash flow per Real Estate Trust Certificate (CBFI), while strengthening the credit quality of its tenants and consolidating its presence in strategic industrial markets in the country.
If you prefer, I can also take a more analytical approach, linking the acquisition to the rise of nearshoring, the performance of the Bajío industrial market, and the growth strategy of real estate investment trusts.
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