Macquarie Mexican REIT Agrees to Acquire 15 Industrial Properties
*Investment of US$82.7 million (approximately Ps.1.0 billion)
*1.65 million square feet (153,355 square meters) of gross leasable area
*Portfolio distributed across five states in Mexico; further diversifies
MMREIT’s geographic footprint
MEXICO CITY -- July 22, 2013
Macquarie Mexican REIT (MMREIT) (BMV: FIBRAMQ) today announced it had reached
agreement with affiliates of DCT Industrial Trust Inc.^® (NYSE: DCT) to
acquire a portfolio of 15 industrial properties located across five states in
Mexico for US$82.7 million (approximately Ps.1.0 billion)^1. Including
transaction costs and property tax, the total acquisition value is US$86.3
million (approximately Ps.1.1 billion).
“We are pleased to continue building on our existing industrial portfolio with
the addition of these strongly performing, fully occupied properties^2,” said
Jaime Lara, CEO of MMREIT. “The addition of these properties gives us further
penetration into key markets such as Monterrey, an important industrial market
The portfolio, totaling approximately 1.65 million square feet (153,555 square
meters) of gross leasable area, consists of 15 high-quality properties located
in Monterrey, Guadalajara, Tijuana, San Luis Potosi and Queretaro. The
portfolio is 100% leased and 60% of the properties are located in Monterrey,
providing further geographic diversification to MMREIT’s existing portfolio.
The properties have an average age of approximately nine years. MMREIT
estimates the acquired portfolio will generate US$6.95 million (approximately
Ps.87.3 million) of net operating income^3.
Upon completion of this transaction and the recently announced acquisition of
a six property retail and office portfolio^4, MMREIT's portfolio will include
265 industrial, retail, and office properties totaling 30 million square feet
(2.8 million square meters) of gross leasable area across Mexico.
MMREIT expects to fund the acquisition with available cash and existing credit
facilities. The transaction is expected to close in the late third or early
fourth quarter of 2013.
Closing of the transaction is subject to closing conditions customary for
transactions of this size and type, including clearance from the Federal
Competition Commission (Comisión Federal De Competencia).
Management of MMREIT will host a conference call with analysts and investors
to discuss the acquisition, and the recently announced acquisition of a six
property retail and office portfolio, on Wednesday, July 24 at 7:30 a.m. CDT /
8:30 a.m. EDT. The conference call, which will also be webcast, can be
accessed online at www.macquarie.com/mmreit or by dialing toll free
+1-877-303-6152. Callers from outside the United States may dial
+1-678-809-1066. MMREIT will prepare printable materials in support of its
presentation. A link to the materials will be available on the MMREIT website
the morning of July 24, 2013 prior to the conference call/webcast.
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 244
industrial properties located in 21 cities across 15 Mexican states (as of
June 30, 2013). For additional information about MMREIT, please visit
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 13,660 people and has assets under management of over US$362
billion (as of March 31, 2013).
Macquarie Infrastructure and Real Assets, a division of Macquarie, is a
leading global alternative asset manager specializing in investments across
infrastructure, real estate, agriculture and energy. Macquarie Infrastructure
and Real Assets manages 49 funds with US$101 billion of assets under
management across 25 countries (as of December 31, 2012).
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
THIS 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
^1 Excludes VAT, transaction costs and property tax. Exchange Rate of
^2 As of July 15, 2013
^3 Estimated projected NOI; includes forecast rental income plus maintenance
recoveries minus property operating expenses (including estimated property
administration fee) for the period (August 2013 – July 2014).
^4 The acquisition of the six property portfolio is expected to close in two
phases, the first for the five stabilized properties and the second for City
Shops Del Valle following completion of construction.
Macquarie Mexican REIT
Eduardo Camarena, +52 (55) 9178 7730
For international press queries:
Paula Chirhart, +1-212-231-1239
For press queries in Mexico:
CarralSierra PR & Strategic Communications
Jose Manuel Sierra
Cel: +52 55 5105 5907
Tel: +52 55 5286 0793
Cel: +52 55 3355 4968
Tel: +52 55 5286 0793
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