Through a statement, Fibra MTY reported that it completed the acquisition of a 17,924.08 square meter (m2) piece of land in Aguascalientes. In the industrial property called "Aguascalientes-FINSA 03", belonging to the Zeus portfolio, the Trust will carry out an expansion.

“It is estimated that the total value of the investment, including land, construction, taxes and other closing costs and expenses, amounts to an amount of 10.1 million dollars,” said Jorge Ávalos Carpinteyro, CEO of Fibra MTY.

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Likewise, he explained that the construction process will conclude in approximately 11 months from the date of acquisition and adds a Gross Leasable Area (GLA) of 11,718.84 m2 and is integrated into the triple net lease (NNN) denominated in existing dollars.

It is estimated that the tenant will start paying rent from the third quarter of 2024.

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Likewise, the company indicated that the remaining term of the lease for the entire leased area, considering the expansion area, contemplates a mandatory term of 10 years to conclude in the third quarter of 2034.

"It is estimated that the expansion will generate an additional Net Operating Income of approximately 1.06 million dollars during the twelve months from the beginning of the additional rent payment by the tenant," said Jorge Ávalos Carpinteyro, CEO of Fibra Mty.

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Original note