Fibra Uno plans $850M Industrial Portfolio Acquisition

In the midst of a trade war between the U.S. and China, Mexico is becoming increasingly more attractive to manufacturers and the Spanish-speaking nation stands to benefit while other sectors of the economy have stalled due to the rise of far left president Andres Manuel Lopēz Obrador.

In what would be Mexico’s largest real estate transaction in 2019, Fibra Uno Administracion SA, Mexico’s biggest REIT, is in talks to deploy $850 million in a major industrial park acquisition.

The Mexican REIT, led by the El-Mann Arazi brothers, is close to buying the properties from Finsack 12, a Mexican development equity firm. Fibra Uno plans to finance the acquisition with debt it has already raised.

According to Francisco Galindo from Fibra Uno: “There’s no binding offer to report at the moment,” and the REIT “is always open to evaluating new investment options.”

Fibra Uno shares have risen c. 18% since mid August when the central bank lowered interest rates for the first time in five years reducing financing costs for REITs. The country, however, is going throw a slump in growth and the central bank expects the economy to grow 0.2% to 0.7% this year, down from an earlier estimate of 0.8% to 1.8%.

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