Fibra Prologis Expands Industrial Footprint With Acquisitions

Fibra Prologis (FIBRAPL) announced the acquisition of three industrial properties in Monterrey, Toluca, and Juarez for a total of US$67.1 million, including closing costs, strengthening its presence in some of Mexico’s most competitive logistics hubs. The newly acquired facilities total 540,000ft2 and are fully occupied under dollar-denominated leases. Tenants operate in the sporting goods, consumer goods, and logistics sectors, segments that have shown sustained growth and resilience across the country.

In a notice to investors filed with the Mexican Stock Exchange (BMV), Héctor Ibarzabal, CEO, Fibra Prologis, said the transaction enhances the trust’s footprint in high-demand markets. “These buildings deepen our presence in important industrial markets and significantly improve the balance of our current portfolio,” Ibarzabal said. “Demand in these areas continues to grow, and we will keep seeking opportunities that create value and strengthen our position across Mexico.”

As of 3Q2025, FIBRAPL reported a portfolio of 515 properties with a gross leasable area of 87 million ft2.

Mexican Fibras Close the Year With Strong Gains; Optimism Builds for 2026

Mexico’s Fibra market ended November with clear signs of momentum. Both the Fibra Index and the S&P/BMV IPC posted gains that capped a year of solid appreciation, supported by the sector’s portfolio maturity, renewed interest in local assets and favorable expectations heading into 2026. In November, the Fibra Index rose 1.6%, while the S&P/BMV IPC advanced 1.4%. Year-to-date, they have gained 26.3% and 28.4%, respectively.

An analysis by Monex, prepared by Roberto Solano and Janneth Quiroz, noted that the sector entered 2025 at attractive valuation levels due to three key factors: mature portfolios with high occupancy rates, dynamic growth in leasable area, with some Fibras reporting double-digit expansion, and strategic moves such as new acquisitions and the market entry of Fibra Next. Analysts expect similar momentum in 2026.

Industrial Fibras remain the top pick for next year, followed by retail trusts. The office segment is expected to see a gradual recovery as companies return to corporate spaces and asset-recycling strategies advance.

For the S&P/BMV IPC, analysts project a 2026 target of 68,500 points, supported by estimated sales growth of 9.3% and a 10% increase in EBITDA. The Fibra Index is also expected to maintain a positive trajectory, driven by strong leasable area fundamentals and margin improvements, particularly in the retail segment.

Analysts said that in 2026, Fibras may explore equity financing alternatives in addition to continued debt issuances. Dividend growth is also expected due to greater visibility on commercial conditions and more flexible interest rates in both Mexico and the United States, where two additional rate cuts are anticipated in each country.

Key drivers for next year include improved clarity on economic conditions in Mexico and the United States, more stable inflation affecting lease renewals, ongoing acquisitions and developments, a stronger corporate real estate market and new catalysts in the industrial sector as commercial outlooks evolve.

Given this environment, both the IPC and the Fibra sector are positioned to maintain an attractive landscape in 2026, with potential to extend the strong appreciation recorded in 2025.