Fibra Uno Announces Acquisition of 220 Properties from Banco Santander Mexico
MEXICO CITY, April 27, 2012 /PRNewswire/ -- Fibra Uno Administracion, S.A. de C.V., (Fibra Uno) (BMV: FUNO11) and Banco Santander (Mexico) S.A., have agreed on the acquisition of 220 properties owned by Banco Santander (Mexico) with an approximate value of Ps. 3,330 million, that will be immediately leased to the same institution for a period of 20 years, with an annual income of approximately Ps. 275 million and the commitment by Fibra Uno to invest Ps. 100 million on improvements.
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 18 properties in central and southern Mexico, with an approximate GLA of 746,094 square meters. The 23 properties acquired from Mexfund will be incorporated as of April 1st, 2012. On March 22, 2012, the Trust launched a primary offer for 373,750,000 CBFIs (including an overallotment option of 48,750,000 CBFIs) which represented 46.9% of the Trust's outstanding certificates at the time of the offering.
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