Bloomberg News

Fibra Uno to Spend $945.7 Million on Properties by 2013

July 06, 2011

July 6 (Bloomberg) -- Fibra Uno Administracion SA, Mexico’s only real estate investment trust, plans to spend as much as 11 billion pesos ($945.7 million) to buy seven more properties by the end of 2012, Chief Financial Officer Javier Elizalde Velez said.

Fibra Uno will purchase as many as three of the properties by the end of this year, Elizalde Valdez said in a telephone interview yesterday from Mexico City.

Fibra Uno closed the acquisition of a property in Toluca, state of Mexico, for 260 million pesos this month, bringing its portfolio to 17 properties in central and southern Mexico, according to a statement dated July 1.

“The idea is to acquire properties that are finishing construction and are close to generating income,” Elizalde Velez said.

Fibra Uno started trading in March as the country’s first of two initial public offerings this year. The shares have climbed 3.3 percent since the IPO. They fell 0.7 percent yesterday.

--Editors: Jonathan Roeder, Stephen West

To contact the reporter on this story: Jonathan J. Levin in Mexico City at jlevin20@bloomberg.net

To contact the editor responsible for this story: David Papadopoulos at papadopoulos@bloomberg.net


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