For another 15 billion pesos in acquisitions, Fibra MTY increases its growth strategy towards 2026. After acquiring the Zeus portfolio made up of 46 properties for industrial use and due to adverse effects due to exchange rates, Fibra MTY reported that its total revenues and Net Operating Income (ION) ended the first quarter of the year (1Q23) in line with the results of the first three months of 2022 (1Q22), by decreasing 0.7% and 2.7%, respectively.

Check here: Solili Industrial Report April 2023. Demand exceeds by 82% that registered until April 2022

With this, total income and Net Operating Income (ION) amounted to 372.6 million pesos and 330.6 million pesos (mdp), respectively.

 "The unfavorable exchange effect due to the depreciation of the dollar against the Mexican peso was almost entirely offset by the contractual increases in rental prices and by the three days of operation of the Zeus portfolio in Fibra Mty," said the real estate company. .

On the contrary, Fibra MTY said that the cash flow from Operations (FFO) and the Adjusted Cash Flow from Operations (AFFO) stood at 347.8 million and 346.1 million pesos, respectively, equivalent to 38.0% and 44.3% above 1Q22.

Of interest: Fibras take advantage of investment opportunities in the face of the boom in industrial demand in Mexico

This growth was driven by the financial return on the investment of the cash received from the subscription for 3,616 million pesos, made on March 1, 2023, and from the capital issuance of 3,450 million pesos, made on September 13, 2022; both placements of CBFIs for the acquisition of the Zeus industrial portfolio.

Fibra MTY closed last March with 103 properties in its portfolio, including 19 for office use, 78 for industrial use and 6 for commercial use. Its Gross Leasable Area (GLA) totaled 1,599,848 square meters, with an average occupation of 94.6 percent.

In Solili you can consult industrial warehouses available in Monterrey, Guadalajara and Tijuana 

Original note