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Business Wire
09-06-2025
- Business
- Business Wire
FIBRA Macquarie México Expands Development Program With New Tijuana Project
BUSINESS WIRE)--FIBRA Macquarie México (FIBRA Macquarie) (BMV: FIBRAMQ) announced it will develop up to four new Class A industrial buildings with a total potential GLA of approximately 750 thousand square feet on a 16-hectare land parcel in the Pacifico/Libramiento submarket of Tijuana. This development is in a prime industrial corridor, offering strategic connectivity to two major US border crossings. The park is well-located within the surrounding area, providing access to skilled labor to support both manufacturing and logistics activities. "This investment reinforces our commitment to expanding our development portfolio while maintaining our disciplined approach to capital deployment," said Simon Hanna, FIBRA Macquarie's chief executive officer. "The addition strengthens our presence in a strategic submarket of Tijuana, a well-located area with direct highway access. Our development strategy continues to focus on best-in-class sustainable construction with secured energy rights. Furthermore, we are pleased to be partnering again with Grupo FRISA, with whom we have enjoyed a strong and successful partnership for more than a decade. By maintaining our selective investment criteria and focus on strategic capital allocation, we're positioned to generate compelling returns that should enhance both our operational capabilities and financial results over the long term." This is a 50-50 joint venture between FIBRA Macquarie and Grupo FRISA, who is currently FIBRA Macquarie's JV partner in nine of its retail properties. Grupo FRISA is contributing the land parcel to the project, which minimizes FIBRA Macquarie's immediate capital deployment requirements. The total investment is anticipated to be approximately US$88.0 million, with 50% of that to be progressively contributed by FIBRA Macquarie. The project is expected to deliver an NOI yield on cost of between 9% and 11%, in line with FIBRA Macquarie's target returns. FIBRA Macquarie's scalable internal management platform, MPA, which has a strong existing local presence in Tijuana comprising specialist property management, leasing and engineering professionals, will provide on-going services for the project, enabling NOI margin optimization. The land site is shovel-ready with initial earthworks in progress. The first planned building comprises approximately 200 thousand square feet, targeting a minimum LEED ® Gold certification. About FIBRA Macquarie FIBRA Macquarie México (FIBRA Macquarie) (BMV:FIBRAMQ) is a real estate investment trust (fideicomiso de inversión en bienes raíces), or FIBRA, listed on the Mexican Stock Exchange (Bolsa Mexicana de Valores) targeting industrial, retail and office real estate opportunities in Mexico, with a primary focus on stabilized income-producing properties. FIBRA Macquarie's portfolio consists of 243 industrial properties and 17 retail properties, located in 20 cities across 16 Mexican states as of March 31, 2025. Nine of the retail properties are held through a 50/50 joint venture. For additional information about FIBRA Macquarie, please visit Cautionary Note Regarding Forward-looking Statements This release may contain forward-looking statements. Forward-looking statements involve inherent risks and uncertainties. We caution you that a number of important factors could cause actual results to differ significantly from these forward-looking statements and we undertake no obligation to update any forward-looking statements. Other than Macquarie Bank Limited ABN 46 008 583 542 ('Macquarie Bank'), any Macquarie Group entity noted in this document is not an authorized deposit-taking institution for the purposes of the Banking Act 1959 (Commonwealth of Australia). The obligations of these other Macquarie Group entities do not represent deposits or other liabilities of Macquarie Bank. Macquarie Bank does not guarantee or otherwise provide assurance in respect of the obligations of these other Macquarie Group entities. In addition, if this document relates to an investment, (a) the investor is subject to investment risk including possible delays in repayment and loss of income and principal invested and (b) none of Macquarie Bank or any other Macquarie Group entity guarantees any particular rate of return on or the performance of the investment, nor do they guarantee repayment of capital in respect of the investment.
Yahoo
09-06-2025
- Business
- Yahoo
FIBRA Macquarie México Expands Development Program With New Tijuana Project
New industrial Park with potential for up to four buildings totaling approximately 750k square feet of Class A GLA Shovel-ready land with secured energy strategy MEXICO CITY, June 09, 2025--(BUSINESS WIRE)--FIBRA Macquarie México (FIBRA Macquarie) (BMV: FIBRAMQ) announced it will develop up to four new Class A industrial buildings with a total potential GLA of approximately 750 thousand square feet on a 16-hectare land parcel in the Pacifico/Libramiento submarket of Tijuana. This development is in a prime industrial corridor, offering strategic connectivity to two major US border crossings. The park is well-located within the surrounding area, providing access to skilled labor to support both manufacturing and logistics activities. "This investment reinforces our commitment to expanding our development portfolio while maintaining our disciplined approach to capital deployment," said Simon Hanna, FIBRA Macquarie's chief executive officer. "The addition strengthens our presence in a strategic submarket of Tijuana, a well-located area with direct highway access. Our development strategy continues to focus on best-in-class sustainable construction with secured energy rights. Furthermore, we are pleased to be partnering again with Grupo FRISA, with whom we have enjoyed a strong and successful partnership for more than a decade. By maintaining our selective investment criteria and focus on strategic capital allocation, we're positioned to generate compelling returns that should enhance both our operational capabilities and financial results over the long term." This is a 50-50 joint venture between FIBRA Macquarie and Grupo FRISA, who is currently FIBRA Macquarie's JV partner in nine of its retail properties. Grupo FRISA is contributing the land parcel to the project, which minimizes FIBRA Macquarie's immediate capital deployment requirements. The total investment is anticipated to be approximately US$88.0 million, with 50% of that to be progressively contributed by FIBRA Macquarie. The project is expected to deliver an NOI yield on cost of between 9% and 11%, in line with FIBRA Macquarie's target returns. FIBRA Macquarie's scalable internal management platform, MPA, which has a strong existing local presence in Tijuana comprising specialist property management, leasing and engineering professionals, will provide on-going services for the project, enabling NOI margin optimization. The land site is shovel-ready with initial earthworks in progress. The first planned building comprises approximately 200 thousand square feet, targeting a minimum LEED® Gold certification. About FIBRA Macquarie FIBRA Macquarie México (FIBRA Macquarie) (BMV:FIBRAMQ) is a real estate investment trust (fideicomiso de inversión en bienes raíces), or FIBRA, listed on the Mexican Stock Exchange (Bolsa Mexicana de Valores) targeting industrial, retail and office real estate opportunities in Mexico, with a primary focus on stabilized income-producing properties. FIBRA Macquarie's portfolio consists of 243 industrial properties and 17 retail properties, located in 20 cities across 16 Mexican states as of March 31, 2025. Nine of the retail properties are held through a 50/50 joint venture. For additional information about FIBRA Macquarie, please visit Cautionary Note Regarding Forward-looking Statements This release may contain forward-looking statements. Forward-looking statements involve inherent risks and uncertainties. We caution you that a number of important factors could cause actual results to differ significantly from these forward-looking statements and we undertake no obligation to update any forward-looking statements. Other than Macquarie Bank Limited ABN 46 008 583 542 ("Macquarie Bank"), any Macquarie Group entity noted in this document is not an authorized deposit-taking institution for the purposes of the Banking Act 1959 (Commonwealth of Australia). The obligations of these other Macquarie Group entities do not represent deposits or other liabilities of Macquarie Bank. Macquarie Bank does not guarantee or otherwise provide assurance in respect of the obligations of these other Macquarie Group entities. In addition, if this document relates to an investment, (a) the investor is subject to investment risk including possible delays in repayment and loss of income and principal invested and (b) none of Macquarie Bank or any other Macquarie Group entity guarantees any particular rate of return on or the performance of the investment, nor do they guarantee repayment of capital in respect of the investment. THIS RELEASE IS NOT AN OFFER FOR SALE OF SECURITIES IN THE UNITED STATES, AND SECURITIES MAY NOT BE OFFERED OR SOLD IN THE UNITED STATES ABSENT REGISTRATION OR AN EXEMPTION FROM REGISTRATION UNDER THE U.S. SECURITIES ACT OF 1933, AS AMENDED. View source version on Contacts Investor relations contact:Contact: Nikki SacksTel: +52 (55) 9178 7751Tel: +1 203 682 8263Email: For press inquiries, please contact:FleishmanHillard MéxicoContact: Zaira CorreaTel: +52 55 3017 0260Email:
Yahoo
01-05-2025
- Business
- Yahoo
FIBRA Macquarie (DBMBF) Q1 2025 Earnings Call Highlights: Record NOI and AFFO Amid Market Challenges
NOI Growth: 20% increase in NOI. AFFO per Certificate: Record AFFO per certificate of MXN0.7556. Industrial Leasing Activity: 1.6 million square feet completed, with industrial releasing spreads of 17%. Same-Store Occupancy: 95.8% for industrial portfolio. Retail Portfolio Occupancy: 93% with average monthly rental rates at 5.2%. Annual Rental Rate Growth: 5.7% for industrial portfolio. Real Estate Net LTV: 33% as of March 31. Net Debt-to-EBITDA: 5.2 times. Available Liquidity: $420 million. Weighted Cost of Debt: 5.7%, with 82% being fixed rate. FY25 AFFO Guidance: $115 million to $119 million in U.S. dollars. Cash Distributions Guidance: MXN2.45 per certificate for FY25. Warning! GuruFocus has detected 10 Warning Signs with DBMBF. Release Date: April 30, 2025 For the complete transcript of the earnings call, please refer to the full earnings call transcript. FIBRA Macquarie (DBMBF) reported record NOI and AFFO in U.S. dollar terms for the first quarter of 2025. The company achieved industrial releasing spreads of 17% and completed 1.6 million square feet of industrial leasing activity. The retail portfolio showed year-over-year occupancy gains, closing the quarter at 93% with average monthly rental rates increasing by 5.2%. FIBRA Macquarie (DBMBF) maintains a strong liquidity position with available liquidity of $420 million and no scheduled debt maturities until September 2026. The company reaffirmed its guidance for cash distributions in FY25 of MXN2.45 per certificate, indicating a well-covered distribution in the sector. Occupancy rates have been declining, with some markets like Juarez and Villahermosa experiencing softer demand. The macroeconomic landscape presents challenges, including recent changes in tariff policies affecting trade and investment environments. New leasing activity is being impacted by broader market uncertainty, particularly regarding tariff policy. The company faces a challenging leasing environment in certain markets, with limited short-term lease prospects. Retention rates have decreased from 89% to 79%, reflecting some tenant move-outs due to expansions or operational adjustments. Q: Can you provide some color on how the lease-up, both at the pre-leasing level and after delivery of new properties, is going? Has this changed your preferences for capital allocation? A: Simon Hanna, CEO: Recent deliveries in Juarez and Villahermosa are facing challenges due to softer market conditions. We are cautious with new construction starts but continue to prepare existing land banks for future development. We are also exploring opportunistic investments, particularly in land with energy strategies and single asset purchases in Mexico City. Share buybacks are considered but balanced with other investment opportunities. Q: When do you expect occupancy to stabilize, and are you reaching out to tenants for early renewals? A: Simon Hanna, CEO: We are comfortable with current occupancy trends despite a slight decline. We have proactively pursued accelerated renewals, bringing forward over 600,000 square feet of scheduled expirations. We aim to maintain current occupancy levels and are optimistic about bringing forward more renewals from 2026 into 2025. Q: Are tenants looking to change lease terms, and are there specific industries showing incremental demand? A: Simon Hanna, CEO: We haven't seen significant shifts in lease terms. The leasing environment is subdued, but we see opportunities, particularly with auto parts tenants. The demand is consistent across various sectors, though at lower levels compared to previous years. Q: How is the retail portfolio performing, and what is the outlook for foot traffic and tenant performance? A: Simon Hanna, CEO: Foot traffic is not a primary indicator of tenant performance. Despite a soft quarter for cinema releases, retail performance was strong with 5% renewal spreads and stable occupancy at 93%. We expect continued NOI growth and stable occupancy for the remainder of the year. Q: Can you elaborate on the drivers behind the occupancy drop and when you expect recovery? A: Simon Hanna, CEO: The drop was mainly in Monterrey due to tenants relocating for expansion. These were planned move-outs from 2024. We have prospects for backfilling these spaces and expect no significant trend shifts. The overall leasing activity has decreased due to market uncertainty. For the complete transcript of the earnings call, please refer to the full earnings call transcript. This article first appeared on GuruFocus. Sign in to access your portfolio
