The Fibra MTY real estate investment trust "successfully" concluded the disposal of the "Cuprum" property, located in the municipality of San Pedro Garza García, Nuevo León, for a total amount of approximately 155 million pesos.

"The amount of the transaction is in line with the estimate of the fair market value made by our external appraiser as of November 30, 2021 and is part of Fibra Mty's portfolio recycling strategy," the trust said in a statement. .

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In its initial placement prospectus in December 2014, the company reported that it had this property as part of the initial contribution portfolio and that it had considered relocating the tenant to a new building for the subsequent sale or redevelopment of the property occupied by the old ones. Cuprum company facilities.

In this sense, Fibra Mty relocates the tenant to a new industrial warehouse tailored to their needs (built-to-suit or BTS) of 19,623 square meters of ABR, with an original 10-year lease.

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It is worth mentioning that during the years in which the tenant occupied the Cuprum property, the rent generated an average capitalization rate of 10.40%. 

Additionally, the current sale price reflects an appreciation of just under 40% in the value of the land during the last 7 years.

The resources from this provision will be used mainly for the acquisition of stabilized properties.

The execution of this transaction was formalized in compliance with the applicable provisions of Trust 2157, the statement mentions.

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Original note