Fibra Prologis' expansion is being driven by nearshoring, so its investments in new industrial assets to take advantage of this phenomenon would amount to $450 million in 2023, Fitch Ratings stated.

The credit risk rating agency stated that to finance its investment plan, the Real Estate Investment Trust issued approximately $385 million in Real Estate Trust Stock Certificates (CBFI) in May 2023.

Of interest: Solili Industrial Report October 2023, Tijuana, MTY, Saltillo, CDMX and Querétaro lead demand

He recalled that in October of this year, Fibras announced the acquisition of 1.1 million square feet, with an investment of 106 million dollars. Additionally, it has access to $500 million in additional funds through a syndicated revolving credit line.

Fitch Ratings expects that by 2024 the Fibra's income will exceed 350 million dollars and generate an operating flow (EBITDA) of more than 200 million dollars, cited in an analysis in which it ratified the national long-term credit rating at “AAA” and has a stable perspective.

“We expect the performance of the Mexican industrial real estate sector to remain solid with strong growth potential supported by the effects of nearshoring in Mexico. Access to financing sources is good and the demand for industrial property is high, especially in the North of the country,” said the rating firm.

He added that the good moment that industrial real estate is experiencing is reflected in low vacancy rates below 2% in most regions and an increase in rents of more than 40% in the third quarter of 2023.

Check here: Monterrey is shown as the most dynamic market in terms of industrial investment

However, he added that “certain risks could deteriorate market fundamentals and slow expected growth, including, among other things, a global economic recession, lack of electrical infrastructure and security issues.”

At Solili you can consult industrial warehouses available in Monterrey, Tijuana and Ciudad de México

Original note