Fibra Uno, the largest real estate investment trust in Mexico, obtained a $300 million green line of credit from a syndicate of banks, given to Holland & Knight, a law firm based in Florida, United States.

The legal firm was the one who advised the real estate trust and the Helios joint venture vehicle, which issued a Development Capital Certificate (CKD) in charge of the development of the Mitikah mixed-use complex located south of Mexico City.

Fibra Uno and its partner Helios, an exchange-traded fund (CKD), plan to use the funds to complete the construction and development of Mitikah, which began in 2015 and consists of an office tower, an apartment building and a shopping center. The work is expected to be completed in 2024.

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The building is set to obtain a Certificate of Excellence in Design for Greater Efficiencies (EDGE), which is awarded to projects that reduce energy and water consumption and minimize the energy footprint of construction materials.

The banks that participated in this operation that was closed on March 18 are Banco Santander, BBVA, HSBC, Banco Sabadell, Banregio and Intercam Banco.

Holland & Knight partners Guillermo Uribe and Adrián Gay Lasa represented Fibra Uno in the transaction.

This provision of the green loan is added to the placement of sustainable bonds by Funo for 8.1 billion pesos in the fourth quarter of 2021, whose resources were used to prepay stock market debt for the same amount.

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The company that has Torre Mayor and Torre Diana among its properties reported a total debt of 135,095.7 million pesos, against 136,347.7 million pesos in the previous quarter.

The variation is mainly due to a first disposition of the new Mitikah syndicated loan for 3,000 million pesos and the prepayment of debt for 1,820 million pesos.

The trust currently has in its portfolio 1,143 million m2 of offices distributed in 93 buildings, including the Torre Diana and the Torre Mayor, in Mexico City.

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