Fibra MTY Posts Double-Digit Growth, Expands Industrial Portfolio

Fibra MTY, the first fully internally managed and advised Mexican real estate investment trust, reports a strong 3Q25, driven by its expanding industrial portfolio and strategic divestments.

“The fundamentals that make Mexico attractive — skilled labor, competitive rents, and strategic location — remain strong even under more restrictive trade scenarios,” writes Fibra MTY.

The trust’s total revenues rose 15.6% YoY, while Net Operating Income (NOI) increased 17.4%, fueled by new acquisitions and expansions. Adjusted EBITDA climbed 17.0%, and margins reached 91.8% for NOI and 84.5% for adjusted EBITDA, both above target levels.

During 3Q25, Fibra MTY completed the sale of its Fortaleza office property in the State of Mexico for MX$360 million (US$19.5 million) and finalized the acquisition of two newly built industrial facilities, Batach 1 and 2, in Nuevo Leon for US$73.4 million. It also purchased land in Cienega de Flores, Nuevo Leon, to expand the Garibaldi 1 property with an investment of US$20.2 million.

By the end of September, Fibra MTY managed 119 properties: 96 industrial, 17 office, and six retail assets. The portfolio covered 2.06 million m² of gross leasable area with 96% occupancy. The trust’s total assets stood at MX$42.6 billion, with debt at 27.1%, in line with its 2024 level.

The firm’s acquisition pipeline now exceeds US$500 million in stabilized industrial assets across Nuevo Leon, Coahuila, Queretaro, Guanajuato, and the Valley of Mexico, with US$120 million in advanced negotiations, says Jorge Ávalos, CEO, Fibra MTY. Considering available cash and leverage capacity, Fibra MTY can invest US$250 million to US$450 million in industrial properties, potentially reaching US$580 million if all divestments are completed.

Fibra MTY also earned 74 points in the 2025 Global Real Estate Sustainability Benchmark (GRESB), a 19% increase from 2024 and above peer averages. The trust also scored 62 points in S&P Global’s Corporate Sustainability Assessment, surpassing its annual targets by 106% and ranking in the 94th percentile globally.

The quarterly distribution amounted to MX$615.1 million (MX$0.252 per CBFI), representing a 7.7% annualized yield.