FIBRA Macquarie México Completes Acquisition of Industrial Properties in Ciudad Juárez
10 February 2016 - 1:05PM
Business Wire
Highlights
- Two high-quality industrial
properties in core market
- Stabilized capitalization rate of
8.5%
FIBRA Macquarie México (FIBRA Macquarie) (BMV:FIBRAMQ), owner of
one of the largest portfolios of industrial and retail/office
property in Mexico, announced it has completed the acquisition of
two industrial properties and adjacent land located in Ciudad
Juarez, Chihuahua, for a total of US$21.7 million (approximately
Ps.398.6 million), excluding transaction costs and taxes. The two
existing properties comprise 35,300 square meters (380,000 square
feet) of gross leasable area (GLA) while the land parcel provides
an opportunity to expand an existing building and add a further
6,500 square meters (70,000 square feet) of GLA.
“We are pleased to have finalized the acquisition of two
high-quality assets in the important industrial property market of
Ciudad Juárez,” said Juan Monroy, chief executive officer of FIBRA
Macquarie. “We continue to add well-known institutional tenants to
our portfolio by expanding our presence in a key northern
city.”
FIBRA Macquarie acquired the two stabilized properties for a
total purchase price of US$21.1 million (approximately Ps.387.0
million), and the land parcel for a total purchase price of US$0.6
million (approximately Ps.11.6 million), excluding transaction
costs and taxes. The lease contracts associated with the
transaction are triple net (NNN) and USD-denominated. FIBRA
Macquarie expects the transaction to generate stabilized net
operating income (NOI) of US$1.8 million (approximately Ps.33.8
million) on an annualized basis in 2016 or US$0.002 (approximately
Ps.0.042) per certificate based on 811.4 million certificates
outstanding. The expected contribution to NOI implies a stabilized
capitalization rate for the properties of 8.5%. FIBRA Macquarie
funded the acquisition with available cash.
Transaction costs and taxes totaled approximately US$0.7 million
(Ps. 13.5 million). With this closing, FIBRA Macquarie’s industrial
portfolio comprises 276 properties with a combined GLA of 3.0
million square meters (32.2 million square feet).
FIBRA Macquarie will administer the properties through its
scalable internal property administration platform, leveraging its
ability to integrate new properties without incurring material
additional operating expenses.
About FIBRA Macquarie
FIBRA Macquarie México (FIBRA Macquarie) (BMV: FIBRAMQ) is a
real estate investment trust (fideicomiso de inversión en bienes
raíces), or FIBRA, listed on the Mexican Stock Exchange (Bolsa
Mexicana de Valores) targeting industrial, retail and office real
estate opportunities in Mexico, with a primary focus on stabilized
income-producing properties. FIBRA Macquarie’s portfolio consists
of 276 industrial properties and 17 retail/office properties,
located in 24 cities across 19 Mexican states as of February 9,
2016. Nine of the retail/office properties are held through a 50/50
joint venture with Grupo Frisa. FIBRA Macquarie is managed by
Macquarie México Real Estate Management, S.A. de C.V. which
operates within the Macquarie Infrastructure and Real Assets
division of Macquarie Group. For additional information about FIBRA
Macquarie, please visit www.fibramacquarie.com.
Macquarie Infrastructure and Real Assets is a business within
the Macquarie Asset Management division of Macquarie Group and a
global alternative asset manager focused on real estate,
infrastructure, agriculture and energy assets. Macquarie
Infrastructure and Real Assets has significant expertise over the
entire investment lifecycle, with capabilities in investment
sourcing, investment management, investment realization and
investor relations. Established in 1996, Macquarie Infrastructure
and Real Assets has approximately US$103.7 billion of total assets
under management as of September 30, 2015.
About Macquarie Group
Macquarie Group (Macquarie) is a global provider of banking,
financial, advisory, investment and funds management services.
Macquarie’s main business focus is making returns by providing a
diversified range of services to clients. Macquarie acts on behalf
of institutional, corporate and retail clients and counterparties
around the world. Founded in 1969, Macquarie operates in more than
60 office locations in 29 countries. Macquarie employs
approximately 13,500 people and has assets under management of over
US$354 billion (as of September 30, 2015).
Cautionary Note Regarding Forward-looking Statements
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Investor Relations:MacquarieToe Matsumura,
+52 (55) 9178 7768Cell: +52 1 (55) 4450
5018toe.matsumura@macquarie.comorPressCarralSierra PR
& Strategic CommunicationsJose Manuel Sierra, +52
(55) 5286 0793Cell: +52 1 (55) 5105
5907jmsierra@carralsierra.com.mxorDiego Arrazola, +52 (55)
5286 0793Cell: +52 1 (55) 3977
2778darrazola@carralsierra.com.mx