Fibra Mty Strengthens Industrial Presence in Bajío Region

Fibra Mty has reached an agreement for the future purchase and simultaneous leaseback of an industrial warehouse in Guanajuato for approximately $24.1 million. The transaction, structured under a sale and leaseback model, strengthens the trust’s exposure to the industrial market of the Bajío region, a key area for the automotive and export industries in Mexico.

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in Mexico.

What Does Fibra Mty’s Industrial Transaction Entail?

Fibra Mty has informed its investors that it has reached an agreement, subject to certain conditions, to acquire an industrial real estate property. The transaction simultaneously includes the lease of the property back to the seller.

This model, known as sale and leaseback, allows a company to sell a real estate asset and continue occupying it as a lessee. For the buyer, it represents an investment opportunity with contracted cash flow from the outset.

In this case, Fibra Mty will acquire a Class A industrial warehouse located in Guanajuato. The total approximate amount of the transaction is $24.1 million, plus the corresponding value-added tax on the construction.

Additionally, the transaction includes other acquisition taxes, costs, and expenses. Therefore, the final amount may vary based on concepts associated with the closing.

What Are the Characteristics of the Industrial Warehouse in Guanajuato?

The industrial warehouse features a gross rentable area of approximately 28,000 square meters. It is situated on a total land area of nearly 96,500 square meters.

The property is fully occupied by a global company that is part of the automotive sector’s supply chain and has an international presence.

Full occupancy reduces the initial vacancy risk for Fibra Mty and provides visibility into expected income upon acquisition.

Why is Guanajuato Strategic for Fibra Mty?

The asset’s location is one of the most relevant aspects of this transaction. Guanajuato is part of the Bajío manufacturing corridor, a strategic region for the automotive industry.

In recent years, the Bajío region has established a significant industrial base connected to manufacturing, exports, auto parts, and logistics. Its geographical position also facilitates connections to various markets in the central, northern, and western parts of the country.

This transaction expands Fibra Mty’s exposure to one of Mexico’s primary production centers and adds an asset linked to global supply chains.

What Will Be the Terms of the Lease Agreement?

Simultaneously with the closing of the purchase and sale, Fibra Mty will enter into a lease agreement with the seller. The agreement will be denominated in U.S. dollars.

The lease will have an initial mandatory term of 10 years and will include annual increases tied to the CPI (U.S. Consumer Price Index).

The lease structure will be an absolute triple net (NNN), where the tenant assumes certain operating expenses related to the property.

This type of lease offers greater certainty for the owner and allows for clearer estimation of the asset’s operational cash flow during the agreed-upon term.

Fibra Mty estimates that the Net Operating Income (NOI) will be approximately $2.1 million during the first 12 months following the acquisition.

How Will the Property Purchase Be Paid?

The purchase price will be paid in two installments. The first payment of $21.1 million will be made on the closing date.

The second payment of $3 million will be made two years after the lease agreement is executed, subject to the fulfillment of certain conditions during that period.

This structure allows for the disbursement of a portion of the funds over time and links the second payment to the fulfillment of conditions set forth in the transaction.

The agreement remains subject to certain conditions, and the purchase will only be finalized once the parties meet the defined closing requirements.

Ultimately, through this transaction, Fibra Mty reaffirms its growth strategy in investment properties, aiming to enhance cash flow per CBFI.