MEXICO CITY, March 20, 2012 /PRNewswire/ --Fibra Uno (BMV: FUNO11) ("Fibra Uno" or "The Trust"), Mexico's first and only real estate investment trust, announced today that none of its 40 current and anticipated portfolio properties have sustained any significant visible damage as a result of the earthquake in Mexico earlier in the day. Fibra Uno's portfolio currently consists of 17 properties, with an additional 23 agreed to be acquired. These properties are located across Mexico. The Trust has received no reports of significant visible damage, and all properties are operating as normal. On-going investigations of the properties and their condition continue. An earthquake with a magnitude of 7.6 affected parts of Mexico today, according to the U.S. Geological Survey.
About Fibra Uno
Fibra Uno is a Mexican trust formed primarily to acquire, own, develop and operate a broad range of commercial real estate in Mexico, including industrial, retail, tourist, office, and mixed-use properties in Mexico. Our objective is to offer attractive returns to the holders of our CBFIs through stable cash distributions and the appreciation of our real estate. We intend to selectively assemble a diversified portfolio of high-quality and strategically-located income-producing properties in Mexico.
The Trust began trading on the Mexican stock exchange on March 18, 2011. Currently, it has 17 properties in central and southern Mexico, with an approximate GLA of 706,852 sqm. Long-term, Fibra Uno has a growing model in which it plans to buy properties and lease them as a source of recurring, reliable income.
Under Mexican law, at least 70% of a Fibra's assets must be invested in or derived from income-producing real estate, among other requirements. In addition, a Fibra must also distribute at least 95% of its net taxable income to investors at least once a year. This, combined with the attractive fundamentals of Mexico's real-estate market and a seasoned management team with over three decades of experience in the real estate industry, make Fibra Uno a unique and compelling investment story.
Fibra Uno is an internally managed by F1 Management, S.C. and externally advised by Fibra Uno Administracion S.A. de C.V., a Mexican real estate operator with a management with more than 30 years of experience in the development and operation of real estate in Mexico.
Fibra Uno's IPO was a major step forward for Mexico's real estate industry, offering investors a new investment vehicle with attractive returns while providing developers with a new source of financing. Fibra Uno seeks to increase its portfolio, as well as to offer attractive returns and create value for its investors while contributing to the development of this key sector.
SOURCE Fibra Uno
