Mexico City, Mexico, July 1, 2024. The International Finance Corporation (IFC), a member of the World Bank Group, provided a $150 million sustainability-linked loan to FIBRA Macquarie México for the development of new green industrial parks in Mexico.
The loan will support the FIBRA Macquarie México 2023-2025 financing program, which includes the development of new green industrial parks in Mexico City, Monterrey, Ciudad Juárez, Reynosa and Tijuana for a total area of 2 million square feet in gross leasing area. It also includes energy efficiency upgrades of existing properties supported by IFC's Green Pathways for Real Estate Institutional Portfolios (GRIP) decarbonization program.
FIBRA Macquarie Mexico is a publicly traded Mexican real estate investment trust with a market capitalization of $1.3 billion, headquartered in Mexico City and primarily focused on the acquisition, development, leasing and management of industrial real estate assets.
Andrew McDonald-Hughes, FIBRA Macquarie's Chief Financial Officer, stated: "This new credit facility further enhances our financial flexibility. Through our prudent balance sheet management and capital allocation, we are well-positioned to fund our growth initiatives. We are continuing to execute on our development pipeline to meet the ongoing demand from nearshoring tailwinds. With projects under active development, as well as the recent acquisition of additional land in key market such as Monterrey, we have a pipeline to deliver attractive growth in the coming years. This loan marks IFC's first debt commitment to a Mexican FIBRA, and we are excited to deepen our relationship with the World Bank Group and appreciate the strong support and continued confidence of our banks and the debt capital markets."
Juan Gonzalo Flores, IFC Country Manager for Mexico, noted: "The real estate market in Mexico is becoming greener. IFC is committed to promote greater sustainability in Mexico's real estate sector, especially in the industrial assets sector, a key area to take advantage of the historic opportunity represented by nearshoring. This effort with FIBRA Macquarie will contribute to meet the demand for modern and sustainable industrial parks."
IFC develops an integrated offering to help large owners of real estate assets define and implement decarbonization and/or net zero emissions strategies at the portfolio level with the aim of promoting the green transition of the sector.
About FIBRA Macquarie
FIBRA Macquarie México (FIBRA Macquarie) (BMV:FIBRAMQ) is a real estate investment trust (fideicomiso de inversión en bienes raíces), 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. FIBRA Macquarie's portfolio consists of 239 industrial properties and 17 retail properties, located in 20 cities across 16 Mexican states as of March 31, 2024. Nine of the retail properties are held through a 50/50 joint venture. For additional information about FIBRA Macquarie, please visit www.fibramacquarie.com.
About IFC
IFC — a member of the World Bank Group — is the largest global development institution focused on the private sector in emerging markets. We work in more than 100 countries, using our capital, expertise, and influence to create markets and opportunities in developing countries. In fiscal year 2023, IFC committed a record $43.7 billion to private companies and financial institutions in developing countries, leveraging the power of the private sector to end extreme poverty and boost shared prosperity as economies grapple with the impacts of global compounding crises. For more information, visit www.ifc.org.
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