Fibra Storage, a real estate investment trust for mini-warehouses for self-storage, made an investment of 72.9 million pesos to acquire land in Mexico City.

With this property, which is located in the San Miguel Chapultepec neighborhood, Fibra said that it will develop a warehouse for self-storage that will operate under the U-Storage brand, reported in a statement available on the Mexican Stock Exchange (BMV).

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Regarding the payment of the property, the real estate trust announced that it will finance it with the issuance of around 3.8 million real estate trust stock certificates (CBFI).

“This acquisition had already been approved by the Holders Assembly on April 29, as it is an operation between related parties,” said the Fibra, in the statement.

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Before this acquisition, Fibra Storage managed a portfolio of 31 properties, of which 25 are in operation and the remaining six are land for future development. In total, they add up to a gross leasable area (GLA) of 148,537 square meters, of which 141,735 m2 are operational.

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Original note