MEXICO CITY--(BUSINESS WIRE)--Macquarie Mexican REIT (MMREIT) (BMV:FIBRAMQ) today announced the signing of two industrial property leases totaling approximately 10,360 square meters (111,500 square feet) in Mexicali and Queretaro.
MMREIT has executed:
- A 10-year build-to-suit lease expansion for approximately 4,320 square meters (46,500 square feet) of industrial space with an automotive client in Queretaro; and,
- A one-year lease with a new tenant for approximately 6,040 square meters (65,000 square feet) of industrial space in Mexicali.
“As highlighted in our quarterly results, we anticipate an active leasing environment in the second half of 2014 and have a number of leases out for signing,” said Jaime Lara, Chief Executive Officer, MMREIT. “We are pleased to welcome a new manufacturing tenant to our Mexicali portfolio and to be helping an important existing customer to grow without relocating. Our engineering teams have done an excellent job accommodating customers who are seeking to expand their existing facilities and we have a number of other similar lease expansions being negotiated. We continue to see a healthy level of activity across the Mexican industrial property sector and feel we are well positioned to capitalize on this momentum.”
MMREIT has signed a total of approximately 44,600 square meters (479,900 square feet) of new leases and existing tenant expansions in 2014, including the Mexicali and Queretaro leases.
About Macquarie Mexican REIT
Macquarie Mexican REIT (MMREIT) (BMV: FIBRAMQ) is a real estate investment trust (fideicomiso de inversíon en bienes raices), 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. MMREIT’s portfolio consists of 259 industrial properties and 17 retail/office properties, located in 24 cities across 19 Mexican states (as of June 30, 2014). Nine of the retail properties are held through a 50/50 joint venture with Grupo Frisa. MMREIT is managed by Macquarie México Real Estate Management, S.A. de C.V. which operates within the Macquarie Infrastructure and Real Assets division of Macquarie Group. For additional information about MMREIT, please visit www.macquarie.com/mmreit.
MIRA is a business within the Macquarie Funds Group division of Macquarie Group and a global alternative asset manager focused on real estate, infrastructure, agriculture and energy assets. MIRA has significant expertise over the entire investment lifecycle, with capabilities in investment sourcing, investment management, investment realization and investor relationships. Established in 1996, MIRA has approximately US$105 billion of total assets under management as of June 30, 2014 with more than 400 employees managing 50 listed and unlisted funds worldwide.
About Macquarie Group
Macquarie Group (Macquarie) is a global provider of banking, financial, advisory, investment and funds management services. Macquarie’s main business focus is making returns by providing a diversified range of services to clients. Macquarie acts on behalf of institutional, corporate and retail clients and counterparties around the world. Founded in 1969, Macquarie operates in more than 70 office locations in 28 countries. Macquarie employs approximately 13,900 people and has assets under management of over US$396 billion (as of March 31, 2014).
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.
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