Fibra MTY's EBITDA closed at 440 million pesos (mp) between July and September 2023 (3Q23), 64.4% more than in 3Q22. This growth was driven by the 6 months of operation of the Zeus Portfolio, acquired on March 29 of this year.

In its report sent to the Mexican Stock Exchange (BMV), the Industrial and Office Real Estate Investment Trust (Fibra) reported total income of 578.7 million pesos in the third quarter of this year, 54.3% above 3Q22.

Check here: Accumulated industrial demand in Guadalajara as of Q3 2023 grows 11% compared to 2022

Net Operating Income (ION) was 523.4 million pesos, 60.4% higher than 3Q22. The EBITDA generated amounted to 481.2 million pesos, 62.5% higher than the compared period.

Fibra MTY said that occupancy levels went from 98.7 to 98.9% during 3Q23, considering the contracts in negotiation, it estimates to reach 99.0% before the end of this year.

In the office sector, the performance of the portfolio benefited from the increase in occupancy, going from 73.0% in the previous quarter to 73.8% at the end of July and September 2022.

While the average rent per square meter (m2) was 19.90 dollars in corporate offices, 15.9 dollars in operational offices, 5.5 dollars in industrial warehouses and 8.5 dollars in commercial properties.

“Due to the high weighting of dollarized income in Fibra Mty's portfolio, said appreciation had a significant effect on the operational and financial metrics of the period detailed throughout this report,” management stated in its quarterly report.

Of interest: Vacancy remains downward in the main office markets of Mexico

At the end of 3Q23, the expansions added up to an estimated total of more than 90 million with capitalization rates around 10%. If all expansion projects are completed, the industrial portfolio would increase by more than 100 thousand m2, approximately 53 thousand m2 are in the process of construction.

The real estate trust has a land reserve of 818,291 m2 located mainly in the Puebla market, which is still analyzing its use, which includes expansions, Built-To-Suit developments or disincorporation.

At Solili you can consult industrial warehouses available in  Tijuana, Monterrey and Reynosa

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