Overview of Fibra Next’s Successful BMV Offering
Fibra Next, a real estate investment trust specializing in industrial properties, successfully raised 8,000 million pesos (approximately $436 million) in the Mexican Stock Exchange (BMV).
Investment Breakdown
- The funds will be allocated for developing approximately 500,000 square meters of new industrial spaces over nine months.
- A portion will be used to acquire an existing warehouse and for the development of new projects.
Association with Fibra Uno
Fibra Next is associated with Fibra Uno, and together they aim to achieve a gross leasable area of 22 million square meters.
Investor Composition
According to Jorge Pigeon, Director of Investor Relations at Fibra Next, 95% of the funds came from national investors, while the remaining 5% was contributed by foreign investors.
Prominent Tenants
Notable tenants in Fibra Next’s properties include Walmart, DHL, and PepsiCo.
Geographical Distribution
The initial portfolio of real estate assets is located in five Mexican states: the Federal District (Mexico City), the State of Mexico, Jalisco, Querétaro, and Quintana Roo.
Future Expansion Plans
- Fibra Next will have 200 properties in the next quarter, expanding from its initial nine properties and acquiring 182 additional ones from Fibra Uno.
- Gonzalo Robina, General Deputy Director of FUNO, mentioned that Fibra Next aims to raise $400 million annually to achieve its growth targets.
Historical Context and Market Confidence
This successful offering comes 20 months after Fibra Uno’s unsuccessful attempt to launch Fibra Next, which initially planned to offer 18 properties. Now, nine have been successfully offered.
The BMV highlighted that this new placement reflects the dynamism of the sector and the issuers’ confidence in the stock market as an effective platform for long-term project financing.
Key Questions and Answers
- What is Fibra Next? Fibra Next is a real estate investment trust specializing in industrial properties, originating from Nearshoring Experts & Technology.
- How much was raised in the BMV offering? Fibra Next successfully raised approximately $436 million.
- What will the funds be used for? The money will be allocated for developing new industrial spaces, acquiring existing warehouses, and funding new projects.
- Who are the primary investors? 95% of the funds came from national investors, while the remaining 5% was contributed by foreign investors.
- Who are the key tenants? Notable tenants include Walmart, DHL, and PepsiCo.
- How many properties are part of the initial portfolio? The initial portfolio comprises nine properties spread across five Mexican states.
- What are Fibra Next’s future expansion plans? Fibra Next aims to have 200 properties in the next quarter and plans to raise $400 million annually for growth.
