Fibra Prologis (FIBRAPL), an industrial real estate investment trust, would complete acquisitions for an approximate amount of between 7,000 and 8,000 million pesos (mdp) in 2023, according to projections from the rating agency S&P Global Ratings.

This figure represents a downward revision, since it previously projected investments for the purchase of industrial real estate assets for 12,700 million pesos, however, the rest of the resources for this purpose will be completed until next year.

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However, it estimates that FIBRAPL will add properties to its portfolio with a Gross Leasable Area (ABA) of between 7 and 8 million square feet (ft2) by the end of 2024, which will mean an annual growth in ABA of between 8 and 9 percent. hundred.

Additionally, operating metrics remain strong, with net effective rentals growing 30% during the second quarter of 2023 thanks to favorable industry conditions.

Fibra Prologis' portfolio consists of 225 industrial properties located in the 6 key markets of Mexico (such as Tijuana, Guadalajara and Monterrey), with an ABA of 44.2 million ft2, around 4.1 million square meters.

For the last 12 months ended June 30, 2023, the Fibra reported income of 5,600 million pesos.

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S&P Global stated that approximately two-thirds of Fibra Prologis' net effective income is denominated in dollars. Therefore, a lower exchange rate and relatively high inflation at the end of 2023 could generate substantial gains in the fiscal result.

The above assumptions would lead the issuer to increase its distribution to the holders of Real Estate Trust Certificates, listed on the Mexican Stock Exchange, by March 15, 2024, in order to comply with the regulatory requirements of its status as a Trust investment in real estate.

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

Original note