FIBRA Prologis

What FIBRA Prologis does

FIBRA Prologis (BMV: FIBRAPL14; OTC: FBBPF) is a Mexican real estate investment trust (FIBRA) externally managed by Prologis Property México, an affiliate of global industrial REIT Prologis, Inc. The trust was established in June 2014 through a US$500 million global CBFI offering on the Bolsa Mexicana de Valores and owns a portfolio of 516 Class-A industrial and logistics properties totaling 86.9 million square feet across six Mexican markets: Mexico City, Guadalajara, Monterrey (Global Logistics Markets) and Tijuana, Ciudad Juárez and Reynosa (Regional Manufacturing Markets). The portfolio comprises 65.8 million square feet of strategic logistics and manufacturing facilities plus 21.1 million square feet of non-strategic assets consolidated from the 2025 acquisition of FIBRA Terrafina.

The business operates as a long-term landlord to multinational e-commerce, logistics, manufacturing and retail tenants under multi-year dollar-denominated leases with periodic rent escalators. Revenue is generated through industrial property leasing (the recurring core) and supplemented by distribution economics of the FIBRA structure, which mandates distribution of substantially all taxable income to CBFI holders — the company paid US$0.3117 per CBFI in 2025 and guided US$0.17 per CBFI for full-year 2026 (a 13.3% increase). Operating metrics demonstrate strong pricing power: 97.0% period-end occupancy as of Q1 2026, 59.1% net effective rent growth on rollover in 2025, 82.6% customer retention, and 6.4% same-store cash NOI growth. The company maintains a BBB+ credit rating from S&P with stable outlook, 25% leverage and approximately US$1.1 billion in liquidity.

Growth is sourced from three channels: (1) proprietary access to the Prologis development pipeline for stabilized Class-A assets in existing markets; (2) sponsor-related and third-party acquisitions, including the full consolidation of FIBRA Terrafina completed in February 2026 and a tender offer for FIBRA Macquarie launched February 2026; and (3) organic rent growth via mark-to-market on rollover and annual escalators. Capital deployment in 2025-2026 has been funded through two international bond issuances totaling US$1.0 billion. The trust is led by a small management team (approximately 45 operational professionals) under a planned mid-2026 leadership transition, with CEO Héctor Ibarzábal retiring and CFO Jorge Girault succeeding him effective July 1, 2026.

Name

FIBRA Prologis

Legal name

FIBRA Prologis

Website

https://fibraprologis.com

Company type

Public

Founded year

2014

Operating status

Operating

Headcount range

51–100 employees

Short description

FIBRA Prologis is a Mexican REIT externally managed by Prologis Property México that owns 516 Class-A industrial and logistics properties totaling 86.9 million sq ft across six Mexican markets, leased primarily to multinational e-commerce, logistics, manufacturing and retail tenants under long-term dollar-denominated contracts.

Ownership category

akta.pro rank

Headquarters

HQ city

Las Lomas

HQ country

Mexico

HQ region

Latin America

Offices1 record

Markets served

GTM type

B2B

Offering type

Services

Cost components

Operations, Personnel, Marketing or Sales, Others

Revenue model

1. Industrial Property Leasing: FIBRA Prologis generates revenue primarily through leasing Class-A industrial and logistics properties to customers in Mexico. Properties are leased under long-term contracts with periodic rent increases. Net effective rents on rollover increased 59.1% in 2025, demonstrating strong pricing power.
2. Asset Management Fees: The company pays asset management and professional fees to its external manager Prologis Property México. For 2026, guidance estimates these fees at US$65-70 million annually.

Pricing tiers

Go-to-market motion2 records

Distribution channels2 records

Marketing channels4 records

Core offering

FIBRA Prologis is a Mexican real estate investment trust (FIBRA) that acquires, owns and manages Class-A industrial and logistics real estate across six Mexican markets (Mexico City, Guadalajara, Monterrey, Tijuana, Ciudad Juárez, and Reynosa). The company leases modern logistics and manufacturing facilities to multinational e-commerce, retail and manufacturing tenants under long-term dollar-denominated contracts, and is externally managed by Prologis Property México with proprietary access to the Prologis development pipeline.

Product overview

FIBRA Prologis is a Mexican Real Estate Investment Trust (FIBRA) organized under Mexican income tax law, externally managed by Prologis Property México. The company operates as a single unified platform for owning and managing Class-A industrial and logistics real estate across Mexico. The portfolio comprises 516 investment properties totaling 86.9 million square feet, including 350 logistics and manufacturing facilities across 6 industrial core markets (Mexico City, Guadalajara, Monterrey, Reynosa, Tijuana, and Ciudad Juárez) with 65.8 million square feet of Gross Leasing Area, plus 166 buildings with non-strategic assets totaling 21.1 million square feet. Following the 2025 full consolidation of FIBRA Terrafina (previously 77.14% owned), the combined platform operates as an integrated industrial real estate platform.

Differentiator

Problem solved

Functional benefit

Products and services

• Class-A Industrial Real Estate Portfolio Core offering of 516 investment properties totaling 86.9 million square feet of Class-A logistics and manufacturing space leased to multinational e-commerce, retail, and manufacturing tenants under long-term dollar-denominated leases with periodic rent escalations.
• Global Logistics Markets Leasing Premium logistics and distribution center leasing in Mexico City, Guadalajara, and Monterrey, serving as the largest consumption and trade hubs in Mexico. Targeted at e-commerce fulfillment, retail distribution, and import/export operations.
• Regional Manufacturing Markets Leasing Industrial facility leasing in Reynosa, Tijuana, and Ciudad Juárez, focused on manufacturing and nearshoring operations for export-oriented production near the US border.
• Terrafina Industrial Real Estate Portfolio Additional industrial real estate properties acquired through full consolidation of FIBRA Terrafina, expanding the combined platform's logistics and manufacturing footprint across Mexico.

Quantifiable outcome

• Net effective rents on rollover increased 59.1% in 2025, demonstrating strong pricing power
• +3 more outcomes

Named customers4 records

Segments3 records

Ideal customer profiles3 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Feature1 record

Partnerships

Five partnerships are on record, tiered minor and core.

• FIBRA NextminorStrategic or Co-development Partner · 20 March 2026FIBRA Next also submitted a competing bid for Fibra Macquarie alongside FIBRA Prologis, creating competitive dynamics in the Mexican REIT sector for the Fibra Macquarie acquisition.
• FIBRA MacquarieminorStrategic or Co-development Partner · 27 February 2026FIBRA Prologis entered into a Transaction and Covenant Agreement with Macquarie Asset Management México and Prologis Property México to acquire management rights and launch a tender offer for FIBRA Macquarie. The offer proposed 0.525 FIBRA Prologis CBFIs per CBFI of FIBRA Macquarie or MX$40 cash (US$2.33) per CBFI. The tender offer expired May 25, 2026 without extension.
• Macquarie Asset Management MéxicominorStrategic or Co-development Partner · 27 February 2026Current external manager of FIBRA Macquarie. Entered into Transaction and Covenant Agreement with FIBRA Prologis and Prologis Property México to transfer management rights. CNA authorization for the assignment was obtained in May 2026.
• Prologis (Parent Company/Sponsor)coreStrategic or Co-development Partner · 3 June 2014Prologis is the premier sponsor and external manager of FIBRA Prologis. All real estate interests are held through sub-trusts managed by Prologis Property México. FIBRA Prologis has proprietary access to the Prologis development pipeline for acquisitions. Prologis owned approximately 1.3 billion square feet of industrial real estate in 20 countries as of December 2024.
• Actinver Casa de BolsaminorChannel Partner/ Reseller/ DistributorActinver Casa de Bolsa served as tender offer agent for the FIBRA Macquarie acquisition offer, handling communications with CBFI holders regarding participation in the offer.

Scale indicators12 records

Recent moves7 records

Expansion highlights4 records

Market position

Competitive moat5 records

Key risks1 record

Key highlights7 records

Customer concentration

• LinkedInlinkedin.com/company/fibra-prologis

Compliance4 records

Revenue estimate

Valuation estimate

Number of profiles

Profiles3 records

Subsidiaries2 records

Funding overview

Funding rounds3 records

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A1 record

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about FIBRA Prologis