Real Estate Trust Concluded DHL New Center Acquisition

Mexico-based Real Estate Investment Trust Fibra Mty announced DHL’s new distribution center acquisition in Monterrey for a 10-year term. The multi-million-dollar acquisition will enable DHL to have access to institutional financing for real estate operations in the country.

“The first real estate investment trust that is fully internally managed, communicates to investors it has completed the acquisition of industrial property for US$22.4 million, plus VAT on construction and other taxes and acquisition costs. The property is leased by DHL Supply Chain Mexico,” says Fibra Mty through a press release.

The lease is in US dollars, has a remaining 10-year term validity since the acquisition’s date and was arranged under a sale-and-leaseback transaction, which is expected to generate a net operating income (NOI) of US$1.54 million during the following year. 

“The industrial building named "Cienega 3" is located in Cienega de Flores, Nuevo Leon and has a Gross Leasable Area (GLA) of 30,087 square meters under a triple net contract (NNN), whereby, the tenant covers operating expenses, insurance, and property taxes in addition to the rent,” says the company. 

The new distribution center’s construction was completed last November and its acquisition allows Fibra Mty’s clash flow generation to be strengthened through the addition of the Germany-based global logistics firm to its tenant base.

With this latest acquisition, Fibra Mty adds four investments in new properties to their portfolio that total US$139.6 million. This elevates their NOI to US$2.2 million during the following year for each transaction. This growth comes after the real estate trust decided to resume their acquisition program that had been suspended due to the COVID-19 pandemic.

In addition, Fibra Mty announced recently the extension of its Whirlpool leasing in its “Filios” portfolio located in Apodaca, Nuevo Leon and completed the selling of two non-strategic assets in Los Mochis, Sinaloa and Monterrey totaling MX$22 million.

Fibra Mty started its operations on December 11, 2014, its business model focuses on the acquisition, administration, development and operation of Mexican corporate properties, according to their webpage. The Mexican Income Tax Laws qualification has allowed the company to be attributable to the holders of its Real Estate Stock Certificates (CBFIs). 

“Fibra Mty is internally managed by Administrador Fibra Mty, S.C., making Fibra Mty the first investment vehicle of its kind within the FIBRAS sector in Mexico, supported by an innovative corporate governance structure, aligned with investor interests, generating economies of scale and taking advantage of the opportunities offered by the real estate market,” according to the company’s webpage.