The gross profitable area (GLA) of the Fibra Plus portfolio in operation increased 38.5%, going from 120 thousand 773 square meters in the third quarter of 2020 to 167 thousand 294 square meters in the same period of this year (3Q21), due to to the incorporation of the industrial portfolio T-MEC III.

Over the next 12 months, the real estate investment trust (Fibra) will add more than 33 thousand square meters to the portfolio in operation and stabilization, given the delivery of the mixed-use property Héredit Acueducto and the Espacio Condesa shopping complex, towards the first mid 2022.

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He recalled that the effects derived from the COVID-19 pandemic led to certain delays in the next deliveries of the buildings under construction.

Fibra Plus third quarter revenues grew 11.4% annually; While the quarterly net operating income (ION) did so by 3.4% and, excluding exchange effects and the recognition of the capital gain registered in the third quarter of 2020, the net profit for the period grew 9.5 percent.

“A few days ago, Fibra Plus successfully concluded one of the most important operations in its history and in the real estate sector in Mexico, the first Fibras M&A.

The Fibra HD Public Offering ended on October 14, with a total exchange of 309.9 million real estate trust stock certificates (CBFI), equivalent to 70.9% of the certificates in circulation, ”the company recalled through the report.

Of interest: Industrial coworking, option of production spaces for Pymes

He reiterated that the operation will provide a strong boost to the growth of Fibra Plus and will provide various synergies that will increase the valuation of the merged vehicle.

He explained that Fibra Plus officially took over the direction of Fibra HD on October 19, the date on which the transaction was settled.

As of September 30, 2021, the Fibra Plus portfolio consisted of 17 projects, with a gross profitable area of 326,860 square meters.

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Original note