Fibra MTY announced the execution of a simple unsecured credit contract with Scotiabank for an amount of up to 63 million dollars at a variable rate that can be revised in three months less than 150 basis points. This capital will be used to expand its industrial portfolio.

According to the statement, the financing contemplates a single payment of capital and interest at the expiration of each provision, in this way, it matches the execution times of the investments with the beginning of income generation from the expansions.

Of interest: Demand in the Vallejo submarket prompts renovation and reconstruction of industrial spaces

In addition, it indicated that the contract has a duration of 18 months from its signature, so, upon its completion, it will seek to replace it with a loan that allows it to be integrated into the longer-term debt maturity profile.

The injected resources will help continue the expansion plans of projects, among which are Danfoss, Nuevo León and Aguascalientes Finsa 03, Aguascalientes. The Santiago project in Querétaro will also be included, which is subject to other conditions not yet disclosed by the company.

In addition, it will help increase the gross leasable area of the properties with an attractive capitalization rate, which allows increasing lease terms and negotiating in advance an increase in the rent on the entire property.

Check here: Construction of 345 thousand m² of industrial space begins in Monterrey during July-August 2023

Along with the recent actions, Fibra MTY is in the process of negotiating other growth projects in its portfolio, maintaining its line of development within the states in which it has a presence.

In Solili you can consult industrial warehouses in Monterrey and Saltillo

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