FMTY Buys Industrial Assets in Coahuila, Guanajuato

FIBRA Monterrey (FMTY) announced that it reached an agreement for the purchase and simultaneous sale-and-leaseback of an industrial real estate portfolio for approximately US$99.7 million. The transaction includes two Class A industrial warehouses located in Coahuila and Guanajuato that are currently fully occupied and integrated into the seller's logistics and manufacturing operations.

The properties comprise a gross leasable area (GLA) of approximately 88,000m² on a total land area of nearly 440,000m², with more than half of the surface area held as territorial reserve for potential expansion. Upon closing, FMTY will sign a 15-year forced-term lease agreement denominated in US dollars. The contract is structured as an Absolute Triple Net lease with annual rent increases linked to the Consumer Price Index. Under these terms, the tenant is responsible for all operating expenses, insurance, property taxes, and maintenance costs.

The portfolio is projected to generate an annual Net Operating Income (NOI) of approximately US$7.6 million during the first twelve months of operation. “This operation strengthens the Trust’s positioning as a strategic real estate partner for high-quality global tenants and consolidates an industrial portfolio in primary markets under long-term contracts, aligned with its strategy of disciplined growth and the generation of attractive risk-adjusted returns,” reads the company’s press release.

Portfolio Optimization and Divestment

FMTY also entered into an agreement for the sale of a portfolio consisting of five properties for US$46.8 million. The assets include four office buildings and one commercial property located in Monterrey, San Luis Potosi, and Ciudad Juarez. The transaction price is consistent with the fair market value determined by an external appraiser at the end of 2025, the company says.

This operation is part of a plan to optimize the investment portfolio. With this agreement, the trust has sold or reached sales agreements for 46% of its office portfolio and 100% of its commercial portfolio based on its March 2024 asset base. Net proceeds from the sale are intended for industrial property investments or the execution of a CBFI repurchase program, depending on market conditions.

2025 Sector Performance and 2026 Outlook

During 2025, the FIBRAs sector demonstrated significant growth, with the FIBRAs index achieving a 29.9% return, slightly outperforming the S&P/BMV IPyC’s 28.9%. Industrial FIBRAs remained the preferred asset class, supported by high occupancy rates and strategic acquisitions, as noted in MONEX’s FIBROMETRO.

Analysts maintain a favorable outlook for 2026, citing a mature portfolio base and the potential for increased dividends as interest rates in Mexico and the United States are expected to fluctuate. Specific operational results for the third quarter of 2025 show that FMTY maintained a 96.0% occupancy rate and a Net Operating Income (NOI) margin of 92.8%. FMTY’s Adjusted Funds From Operations (AFFO) saw a 7.5% decrease compared to the same period in 2024.