Fibra Storage, a real estate trust specialized in the development and leasing of mini-warehouses in Mexico, reported that it acquired a piece of land, whose investment amounted to 70.3 million pesos, including closing costs.

The issuer, which is listed on the Mexican Stock Exchange (BMV), said that it formalized in a public deed the acquisition of the property called “Río San Joaquín”, in Mexico City, on July 2, 2021, which was acquired from a third party (unrelated party).

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Last May, Fibra Storage made its first investment this year for 10.3 million pesos to acquire a property in Mexico City.

He explained that the acquisition price of the property was negotiated for 12 months for payment and, additionally, the construction of the mini-warehouses will be paid for through the issuance of 436,650 real estate trust stock certificates (CBFIs) that are in the Trust's treasury in a term no longer than 60 days.

Storage closed the first quarter of this 2021 with 21 properties, of which 16 are in operation, seven stabilized and nine in the stabilization process. In addition, it has five lots for future development.

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The Gross Profitable Area built is 111,846 square meters and the space under development is around 41,922 square meters, so its potential growth of its profitable space is 153,768 square meters. Fiber occupancy is 76 percent.

In the first quarter of 2021 it integrated a branch in Interlomas, Mexico City, during 2020 they did not include any branch.

The Polanco submarket in Mexico City has a wide range of office spaces with areas from 50 m2 and prices from 200 pesos per square meter per month.

Original article