Fibra Nova reaches an agreement to acquire 50 hectares of land in Ciudad Juárez, Chihuahua, with the aim of developing an industrial park there.

The agreed price does not include taxes, costs or closing expenses corresponding to an estimated purchase price of 412 million pesos.

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According to a statement published on the Mexican Stock Exchange (BMV), Fibra Nova announced: 'This new park will be developed in the next four years and will require an investment of approximately 180 million dollars.'

The trust highlighted that the property has an electrical capacity of 3,700 KVAs (kilovolt-ampere) and a water supply of 20 liters per second.

The acquisition will be financed through the issuance of real estate trust stock certificates (CBFIs), and the application process for permits to place the titles before the BMV and the National Banking and Securities Commission has already begun.

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Company management noted: 'This year, the real estate industry continues to experience the positive effects of Nearshoring. The demand for industrial spaces in the north of the country continues to be driven by this megatrend.

Until March, Fibra Nova's real estate portfolio consisted of 112 properties, covering a total of 550,182 square meters of Gross Rentable Area (GLA) and 1,653 hectares of its agro-industrial portfolio.

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Original note