Fibra Mty confirms four new acquisitions with an investment of 139.6 million dollars
By Elenne Castro
January 13, 2022
Fibra Mty concluded its 2021 acquisition plan with four acquisitions for a total amount of approximately 139.6 million dollars .
The first 100% internally managed and advised real estate investment trust confirmed that these purchases will collectively generate a NOI of approximately $ 12.2 million during the 12 months following each of these transactions.
One of the most relevant acquisitions was the purchase of the Ciénega 3 industrial property occupied by the DHL Supply Chain México division , a subsidiary of Deutsche Post DHL Group , for an amount of 22.4 million dollars.
It is estimated that this operation will generate an estimated Net Operating Income of 1.54 million dollars during the 12 months after its acquisition. The transaction is strategic for both companies, on the one hand it will allow DHL to have potential future access to institutional capital for its real estate operation in Mexico.
On the other hand, it will allow Fibra Mty to strengthen the generation of cash flow with the leading global company in the logistics sector. The Ciénega 3 industrial warehouse is located in Ciénega de Flores, Nuevo León and has a Gross Profitable Area of 30,087 square meters.
Jorge Avalos Carpinteyro, General Director of Fibra Mty, stated that the company has proven to be a solid and resilient investment vehicle thanks to an investment and acquisition strategy in each of its properties that make up its portfolio of properties.
It also showed that this year it placed an unsecured bond of 115 million dollars in the public market, and announced a syndicated unsecured loan, by three banks, for an amount equivalent to 150 million dollars , which demonstrates the market's confidence in Fibra Mty .
"For this year 2022, Fibra Mty has assured growth potential to carry out additional acquisitions for an amount of up to 100 million dollars, with a particular focus on industrial properties in the northern part of the country," he said.
Additionally, Fibra Mty announced the anticipated extension of the lease with Whirlpool in the “Filios” portfolio located in Apodaca, Nuevo León, which at the time of said extension represented 20% of gross annual income, with a new maturity in December 2031.
During this year, the company also carried out the sale of two non-strategic assets in the cities of Los Mochis, Sinaloa, and Monterrey, Nuevo León, for an amount of 225 million pesos.
The combination of the acquisitions, the anticipated renewal of Whirlpool and the sales of non-strategic assets have allowed the organization to increase its income-weighted average lease term from 5.1 years at the end of the third quarter of 2021, to 5.5 years estimated at the end of the third quarter of 2021. close of 2021.