Fibra Uno (Funo), the first real estate investment trust, announced that it will list an industrial real estate Fibra, which if approved would be the largest in the industrial warehouse sector represented on the Mexican Stock Exchange (BMV).

The new Fibra would be born with nearly 6 million square meters (m2), which constitutes it as a high-value and well-positioned portfolio, with 4.5 million m2 in the logistics sector and 1.3 million m2 in the light manufacturing sector, he explained. Carlos Gómez, analyst at Intercam Banco.

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The largest industrial fiber until now was Prologis, with 4.1 million square meters (m2) of profitable area, followed by Terrafina with 3.7 million m2 of profitable area.

This new Fibra represents around 7.5 billion pesos (mp) per year in income, since it currently represents 33% of Fibra Uno's annual income.

Currently, the 6 million profitable m2 of warehouses or buildings in the portfolio are divided into 180 properties, with an occupancy of 97.6%. This segment represents 33% of its total income for the second quarter of the year, which amounted to 6,376.4 million pesos, Gómez indicated.

This operation that Fibra Uno seeks to carry out, which still has to be approved by the assembly of holders, will be a separation of its industrial properties that will have the co-investment of the Fibra, although it will continue to consolidate in Funo's results.

The new vehicle would have the Right of First Refusal, which would allow it to acquire the assets of E-Group before anyone else, which has an attractive portfolio. Likewise, this Fiber would have an internal administration from the beginning, which would be different from that of Funo.

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“If the assembly approves the new vehicle, an Initial Public Offering (IPO) will be carried out, whose resources will be allocated for the growth of the industrial Fiber: with the development and/or acquisition of stabilized portfolios,” said Carlos Gómez.

This new scenario will allow Funo to face new nearshoring opportunities where they can participate more actively.

At Solili you can consult industrial warehouses available in Ciudad de México, Monterrey y Guadalajara

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