Macquarie Mexico REIT Plans $1.2 Billion Initial Offering

Macquarie Group Ltd., Australia’s biggest investment bank, plans to raise as much as 16.1 billion pesos ($1.2 billion) in a record initial public offering for Mexico’s real-estate investment trust market.

The trust plans to sell shares for 25 pesos to 29 pesos each on Dec. 6, according to a prospectus filed today with the Mexican stock exchange. The deal would raise a maximum of 14 billion pesos before the so-called greenshoe option for underwriters to buy additional shares.

With similar trusts lining up to sell shares in Mexico, Macquarie says it plans to use the funds to acquire industrial properties, including assets from a unit of General Electric Co., known as GE Capital Real Estate Mexico. The trust’s initial portfolio was appraised at $1.41 billion to $1.51 billion by Colliers International UK Plc, according to a separate presentation also posted on the bourse’s website.

Bank of America Corp., Banco Bilbao Vizcaya Argentaria SA, JPMorgan Chase & Co. and Morgan Stanley are helping manage the deal, according to the prospectus.

Fibra Uno Administracion SA, Mexico’s first real estate investment trust, has soared 72 percent since selling shares in its March 2011 IPO. Concentradora Fibra Hotelera Mexicana SA, which would be Mexico’s second such publicly-listed real-estate trust, will seek to raise as much as 4.36 billion pesos in an IPO scheduled to price on Nov. 29.

Trustee Asesor de Activos Prisma SAPI has also filed to carry out an IPO of its real-estate investment trust known as Fibra Inn, according to a preliminary prospectus.

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