MEXICO CITY—FIBRA Macquarie México says it has reached an agreement to acquire a ten-property industrial portfolio with a gross leasable area of 2.2 million square feet (201,060 sm) located in the cities of Monterrey, Reynosa, Tijuana, Ciudad Juarez and Saltillo in Northern Mexico.
The portfolio will be acquired from an institutional-quality industrial property owner and developer in Mexico for $105 million (approximately Ps. 1,575.0 million), excluding transaction costs and taxes.
The portfolio has 93.9% occupancy comprising high-quality tenants. Among the tenants are well known Mexican companies as well as multi-nationals, including a Fortune 500 company that accounts for 51.4% of annualized base rent. All leases are USD denominated under triple net leases which require the tenant to cover all operating costs such as property taxes, insurance and maintenance. FIBRA Macquarie estimates that the portfolio will generate an incremental $8.7 million (approximately Ps.131.1 million) of net operating income (NOI) on an annualized basis.
Continue Reading for Free
Register and gain access to:
- Breaking commercial real estate news and analysis, on-site and via our newsletters and custom alerts
- Educational webcasts, white papers, and ebooks from industry thought leaders
- Critical coverage of the property casualty insurance and financial advisory markets on our other ALM sites, PropertyCasualty360 and ThinkAdvisor
Already have an account? Sign In Now
© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.
David Phillips
David Phillips is a Chicago-based freelance writer and consultant with more than 20 years experience in business and community news. He also has extensive reporting experience in the food manufacturing industry for national trade publications.
