Fibra MTY is close to completing new acquisitions of industrial properties. Javier Llaca, its director of operations, said that they seek to take advantage of the opportunities that have arisen with the “explosion” that this segment is experiencing within the real estate market in Mexico.
In an interview, he explained that he has the capacity to exercise around 150 million dollars from his cash flow and available credit lines.
“We hope to do a” deployment “with part of these resources before the end of this year. The industrial sector is very hot and we think that it will continue like this, at least in the next three to five years and that is where we are seeing more investment opportunities, there are many industrial projects being built ”, he said.
Javier Llaca also stated that they are analyzing going out next year to the stock market to make a public offer of capital, although the terms of it have not yet been set.
“It is still too early to talk about the amounts and circumstances of the public offering, I think we could do it during the first half of 2022 and the resources would essentially be to buy industrial assets, although we do not rule out that there may be an office component”, commented.
He added that the demand for industrial space in Mexico suffered an “explosion”, derived from three main factors. One is the renewal of the trade agreement between Mexico, the United States and Canada or T-MEC, another is the trade conflict between the United States and China and, finally, the so-called “nearshoring”, a mechanism that is attracting the operation of Asian companies to Mexico, given its proximity to the American Union.
Javier Llaca said that they will eventually seek to consolidate other markets in industrial real estate and explained that there is attractiveness in 13 cities in Mexico, including Tijuana, Ciudad Juárez, Monterrey, Saltillo, Guadalajara, Toluca, as well as the Bajío area.
Fibra MTY has a portfolio with 59 properties, of which 34 belong to the industrial segment, 19 to offices and the rest to the commercial one.