Fibra Nova, the Mexican real estate investment trust, concluded the acquisition of 50 hectares of land in the city of Chihuahua, the event of which was announced on May 23, 2023.
The purchase price was set at 412.8 million pesos, plus the corresponding taxes, costs and closing expenses. The transaction was settled through the delivery of 14 million 233 thousand Real Estate Trust Stock Certificates (CBFIs), using as a reference the price of 29 pesos per title.
This value was based on the price per CBFI established in the last subsequent public offering (follow-on) carried out by Fibra Nova on May 30, 2023.
With the acquisition of these 50 hectares, Fibra Nova intends to develop a new industrial park: the North Technology Park.
It is estimated that this project will require an investment of more than 250 million dollars in the next 5 years.
This announcement reflects Fibra Nova's continued commitment to the growth and development of key infrastructure in Mexico, contributing to economic momentum and generating opportunities in the region.
The property, the real estate investment trust said, has an electrical power of 3,700 KVAs (kilovolt-ampere) and 20 liters per second of water service.