The real estate investment trust, Fibra Mty, celebrated ten years since its debut on the Mexican Stock Exchange (BMV) last December 2024. Over this decade, the trust’s property portfolio shifted its focus from office spaces to industrial properties, driven by the rise of this real estate segment due to trends like nearshoring and e-commerce.
The Evolution of Fibra Mty’s Portfolio
Fibra Mty’s initial portfolio consisted of 9 properties totaling 132,698 square meters (m²) of gross leasable area (GLA), 7 of which were office spaces and only 2 were industrial. This meant that 64% of the GLA was dedicated to office spaces, while 34% corresponded to industrial spaces.
Over the years, through various acquisitions and divestments, Fibra Mty’s portfolio gradually evolved into an industrial-focused profile. The most significant transformation occurred in 2023 with the acquisition of the Zeus portfolio, comprising 46 industrial buildings with a total GLA of approximately 822,052 m² and a land reserve of 882,723 m², distributed across 11 states in the country.
Additionally, Fibra Mty has made significant divestments in its office portfolio by selling buildings in Mexico City and Monterrey, such as Fortaleza and the building occupied by Axtel, among others.
In 2024, Fibra Mty made substantial investments in the industrial segment. Notably, it acquired a portfolio in Querétaro comprising 6 industrial buildings with a GLA of 93,525 m² and two land reserves for future expansions, for $83.3 million USD. It also purchased the Batach portfolio in Monterrey, which includes 8 industrial buildings with a GLA of 185,966 m², with an investment of $192.4 million USD.
As of the close of 3Q 2024, Fibra Mty reported a portfolio consisting of 112 properties: 87 in the industrial segment, 19 in offices, and 6 in retail, totaling 1.8 million m² of GLA and an average occupancy rate of 96%. Additionally, it holds an industrial land reserve of 912,546 m².
As a result, 74.6% of Fibra Mty’s revenue is derived from its industrial portfolio, 24.1% from offices, and the remainder from the retail segment. This portfolio evolution also contributed to 86% of its income being in U.S. dollars and 14% in local currency. Furthermore, its main tenants are industrial companies such as Whirlpool, Yazaki, and Crisa.
Fibra Mty Will Continue Investing in the Industrial Segment
In its latest investor report, Fibra Mty announced plans to continue investing in the industrial segment, stating it has sufficient resources to meet this commitment. The trust detailed that it can invest up to $700 million during the year following its capital issuance, aligning with its 2022–2026 growth strategy.
This investment amount is comparable to the cost of acquiring the Zeus portfolio, which exceeded $662 million. As such, in 2025, we might see Fibra Mty executing another large-scale acquisition of industrial properties.
More information about Fibra Mty’s portfolio is available on Datoz’s Analytics 2.0, or request a demo.
