Fibra Mty is a Fideicomiso de Inversión en Bienes Raíces or “FIBRA” (an investment vehicle similar to the Real Estate Investment Trusts or “REITs” in the United States), established in 2014 and dedicated to the acquisition, operation and development of a portfolio of high-quality corporate real estate assets in Mexico.
We are the first Mexican REIT that was designed under an internal administration structure, intended to create an investment instrument with a transparent and aligned-to-investor-interests structure, which eliminates the system of proportional fees (to asset size, acquisitions, market cap, and similar), only incurring in a fixed operating expense, which results in an additional return for our investors through the retention of added value by economies of scale within the structure.
On December 11, 2014, Fibra Mty successfully completed its initial public offering on the Bolsa Mexicana de Valores (BMV) under the ticker symbol “FMTY-14”. With the funds raised, we started the process of structuring our initial portfolio, which was mainly composed of office developments. The main contributor of property assets was Desarrollos Delta, a leading Mexican company in the development of real estate projects.
Fibra MTY’s property portfolio meets the following criteria that differentiates it from its competitors:
Strategic location in markets with high-growth potential
Diversified base of first-level tenants who have high-credit ratings
Solid operational and financial indicators
Unique architectural features and maximum compliance with construction standards
Due to the REIT structure of the company and in order to comply with the provisions of the Mexican Income Law or “LISR” (Ley del Impuesto Sobre la Renta), Fibra MTY’s income from operations is distributed to the holders of its Certificados Bursátiles Fiduciarios Inmobiliarios or “CBFIs” (Real Estate Stock Certificates), as they are not subject to Income Tax. The aforementioned, combined with the following competitive advantages, allows us to deliver superior yields to our investors:
Internal management structure with tangible benefits for our investors
Strong and diversified income base with predictable cash flows
Unique investment vehicle with significant exposure to the office segment
Seasoned management team with over 60 years experience
Accountability and results-oriented corporate governance structure
Asset management focused on maintaining and forging quality relationships with tenants
Through our orderly growth strategy, which includes real estate investments that represent specific opportunities (due to their risk-yield ratio, repositioning capacity, sale and leaseback, build-to-suit, and similar ones), along with an optimal and aligned corporate governance structure and an efficient capital management, we will seek to improve our operating and financial performance in order to maximize returns delivered to our investors.