\n\u2013 FY22 completed and in progress growth capex projects in the industrial portfolio now totaling 1.8 million sqft\n<\/p>\n
\n\u2013 Commences construction on second building in Apodaca development\n<\/p>\n
MEXICO CITY–(BUSINESS WIRE)–FIBRA Macquarie M\u00e9xico (FIBRAMQ) (BMV: FIBRAMQ) announced the execution of a 183 thousand square foot lease for the first phase of its recently completed industrial development in Apodaca, Nuevo Leon in the Monterrey region of Mexico. The building will be 100%-occupied by a United States-based manufacturer of electric vehicle components. The triple-net 10-year lease is U.S. dollar denominated and represents an NOI yield of 10.4%. The building has been built in accordance with the U.S. Green Building Council\u2019s\u00aeLEED\u00ae v4.1 Building Design and Construction: Core and Shell Development specifications and is expected to achieve a minimum Gold level certification. The project has a total investment cost of US$12.7 million and is expected to begin contributing to FIBRA Macquarie\u2019s NOI in 2Q23. The completion of this project demonstrates FIBRAMQ\u2019s commitment to delivering best-in-class developments in core markets with attractive returns.\n<\/p>\n
\n\u201cThe delivery and lease-up of this building at an attractive yield represents the successful execution of our industrial development strategy,\u201d said Simon Hanna, FIBRA Macquarie\u2019s chief executive officer. \u201cWe are excited to complete an additional lease with a manufacturer in the EV industry as we continue to diversify our tenant base. Solid fundamentals persist in the Monterrey region as strong tailwinds support ongoing demand, and we are confident that subsequent phases of this project will be well received by prospective customers. With incremental growth capex of 1.8 million square feet of GLA in core industrial markets either completed or in progress, we remain encouraged by our strategy to create value and deliver accretive returns for our certificate holders.\u201d\n<\/p>\n
\nUpdate on Growth Capex Program\n<\/p>\n
\nAs at the date of this release, FIBRA Macquarie\u2019s growth capex program comprises 1.8 million sqft of GLA, which includes projects completed in FY22 along with projects under construction. This takes into account development projects of 1.4 million sqft of GLA, opportunistic acquisitions of 293 thousand sqft of GLA and build-to-suit (BTS) expansions of 115 thousand sqft of GLA.\n<\/p>\n
\nApodaca, Nuevo Leon\n<\/p>\n
\nFollowing the successful delivery and lease-up of the first 183 thousand sqft industrial property building, FIBRAMQ has commenced construction on an additional Class A property comprising approximately 210 thousand sqft of GLA, with an expected completion during 2Q23.\n<\/p>\n
\nIn addition to these two buildings, this project has the potential for up to 407 thousand sqft of additional GLA.\n<\/p>\n
\nCuautitl\u00e1n, Mexico City Metropolitan Area\n<\/p>\n
\nIn the strategic industrial submarket of Cuautitl\u00e1n, FIBRAMQ is currently constructing 734 thousand sqft of new GLA across two buildings with substantial completion expected at the end of this year.\n<\/p>\n
\nThis follows the previously disclosed acquisition in July 2022 of a 100%-occupied property in the Cuautitl\u00e1n submarket comprising 293 thousand sqft of GLA.\n<\/p>\n
\nCiudad Ju\u00e1rez, Chihuahua\n<\/p>\n
\nFIBRAMQ has an ongoing development of a 230 thousand sqft GLA building in the southeast market of Ciudad Ju\u00e1rez with an expected completion date in 2Q23. FIBRAMQ\u2019s long term development plan in Ciudad Ju\u00e1rez considers a phased, multi-year construction of a 10-property Class A industrial park with a total potential GLA of approximately 2.5 million sqft.\n<\/p>\n
\nHermosillo, Sonora\n<\/p>\n
\nFIBRAMQ completed a BTS expansion comprising 46 thousand square foot of GLA in the third quarter of 2022. This expansion comprised a US$2.0 million investment for a going-in yield of 11.8%. The expansion lease is denominated in US dollars.\n<\/p>\n
\nQuer\u00e9taro, State of Quer\u00e9taro\n<\/p>\n
\nFinally, FIBRAMQ recently signed a BTS expansion project for a German-based manufacturing customer in Quer\u00e9taro. The project comprises the expansion of an existing facility by 69 thousand square feet with a total investment by FIBRAMQ of US$4.3 million. The project is expected to deliver a NOI yield of 10.5%, with NOI contribution commencing in 1Q23.\n<\/p>\n
\nThrough the recently completed Monterrey building, as well its active development pipeline, FIBRAMQ estimates to deploy approximately US$118.0 million across projects completed in 2022 and currently under construction (MCMA US$43.0 million, Apodaca US$35.0 million, Ciudad Juarez US$32.0 million, Hermosillo\/Queretaro US$8.0 million).\n<\/p>\n
\nAbout FIBRA Macquarie\n<\/p>\n
\nFIBRA Macquarie M\u00e9xico (FIBRA Macquarie) (BMV:FIBRAMQ) is a real estate investment trust (fideicomiso de inversi\u00f3n en bienes ra\u00edces), 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\u2019s portfolio consists of 236 industrial properties and 17 retail properties, located in 20 cities across 16 Mexican states as of June 30, 2022. Nine of the retail properties are held through a 50\/50 joint venture. For additional information about FIBRA Macquarie, please visit www.fibramacquarie.com<\/a>.\n<\/p>\n \nCautionary Note Regarding Forward-looking Statements\n<\/p>\n \nThis 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.\n<\/p>\n \nOther than Macquarie Bank Limited ABN 46 008 583 542 (\u201cMacquarie Bank\u201d), 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.\n<\/p>\n \nTHIS 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.\n<\/p>\n \nTHIS ANNOUNCEMENT IS NOT FOR RELEASE IN ANY MEMBER STATE OF THE EUROPEAN ECONOMIC AREA.\n<\/p>\n \nUSGBC\u00ae and the related logo are trademarks owned by the U.S. Green Building Council\u00ae and are used with permission\n<\/p>\n \nLEED\u00ae, and its related logo, is a trademark owned by the U.S. Green Building Council\u00ae and is used with permission.\n<\/p>\n Contacts <\/p>\n \nInvestor relations contact:
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Tel: +52 (55) 9178 7763
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Nikki Sacks
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Tel: +1 203 682 8263
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Email: nikki.sacks@icrinc.com<\/a>\n<\/p>\n