The investment trusts in Mexico (Fibras) as well as the Development Capital Certificates (CKDs) are real estate financing instruments that have allowed us to attract a large amount of investment resources to our industrial markets, among several diverse mechanisms that are complemented by the green bonds, crowdfunding and the shares of developers listed on the Mexican stock exchange, to name a few.

The CKDs were created in 2009 and are fiduciary titles or securities intended for the financing of projects, or for the acquisition of one or several companies, while the Fibras are assets that open the possibility of investment in real estate, either in income instruments. fixed or variable.

Both instruments are fiduciary vehicles, widely regulated with the difference that the CKDs focus on developing projects and the FIBRAS are dedicated to managing them, while both instruments offer different investment horizons, which leads to different returns.

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In the year that just ended we saw a lot of market movement through these options. In February 2021, Finsa opened the market by listing on the Mexican Stock Exchange for an amount of 30 million dollars, which was used to form a new industrial portfolio in the main markets of the country, such as Mexico City, Monterrey and El Bajío.

Prologis is another example of the Fibras that have been strengthened in the midst of the pandemic by investing in the industrial sector that has been seen to flourish before the confluence of the T-MEC and the significant increase in ecommerce that has grown by 27% during 2021.

The rating agency HR Ratings recently estimated that the Prologis portfolio will expand by 9.7% by 2026, to exceed 4 million square feet, under a projected occupancy of 97.7% and an increase in its average rent of 5.2%.

Terrafina at the end of December 2021, advised by PGIM Real Estate, indicated in a statement the signing of two lease contracts in Tijuana, one for seven years for a net area of 120 thousand square meters, and the other, in a property of 4.7 thousand square meters for an e-commerce client who will occupy it for five years.

Likewise, Terrafina ratified the development of two new properties in Ciudad Juárez and Monterrey for a total net area of 44 thousand square meters, where it stated that it already had letters of intent for 68% of the profitable space signed with multinational companies in the logistics sector.

In turn, Fibra Macquarie announced the launch of two projects in 2022, with a development in Apodaca, Nuevo León and two more in the metropolitan area of Mexico City, which will add more than 85 thousand square meters of new profitable space to its current briefcase.

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Fibra Macquaire in its report at the end of 4Q 2021 indicates an occupancy of 96% in its properties, where 74% corresponds to manufacturing companies and 26% to logistics, highlighting that the Top 10 of its tenants total 25.2% of its annual rental base .

According to figures at the end of 2021, the industrial demand at the national level that exceeded 6.6 million square meters according to figures monitored by Solili represents an increase of 72% compared to 2020, of which Monterrey, Mexico City, Tijuana, Ciudad Juárez and Saltillo ranked in the Top 5 nationally.

2022 has already started off on the right foot, generating a demand for industrial warehouses nationwide of more than 325 thousand square meters where developers will continue fine-tuning their portfolio strategies, favoring competition to be motorized and new operations to be issued through Fibras and CKDs through of the Mexican Stock Exchange and the Institutional Stock Exchange BIVA.