FIBRA Macquarie

What FIBRA Macquarie does

FIBRA Macquarie (FIBRAMQ on the Bolsa Mexicana de Valores) is a Mexican real estate investment trust (Fideicomiso de Inversión en Bienes Raíces) established in December 2012 following its IPO. As of December 31, 2025 the trust owned 262 industrial and retail properties totaling 36.6 million sq ft of gross leasable area and US$3.6 billion in total asset value, distributed across 20 cities in Mexico. The industrial segment targets manufacturing, logistics, and distribution tenants in key corridors including Monterrey, Ciudad Juárez, Reynosa, Tijuana, Mexico City, and Guadalajara, while the retail segment anchors shopping centers in the Mexico City Metropolitan Area, Monterrey, Cancún, and other markets with necessity-based and value-based retailers. Industrial occupancy stood at 95.5% and retail occupancy at 94.1% for the relevant reporting period, with lease renewal spreads of 20% for full year 2025.

The trust's operating platform is its internal Property Administration platform (MPA), staffed by approximately 90 employees across 10 regional offices and providing leasing, accounting, operational, engineering, legal, marketing, and technology services directly to tenants. The MPA model, established in 2014, replaces third-party property managers and supports direct tenant relationships. Development activity is disciplined at no more than 5% of total GLA at any point, and recent projects — including the 124-hectare Tijuana Boulevard 2000 industrial park acquired for US$113.8 million and the UBIQ³ Santa Fe joint venture with Grupo Frisa (~US$90 million) — emphasize LEED Gold/Platinum certification, a 90 MW dedicated substation, and target stabilized yields of 9-11%.

FIBRA Macquarie generates revenue primarily through recurring rental income from industrial and retail leases, with FY25 delivering record AFFO of US$118.3 million (+4.1% YoY) and AFFO per certificate of Ps 2.8519 (+8.3% YoY). Capital structure includes over US$700 million in available liquidity across sustainability-linked credit facilities with IFC (US$200 million total relationship), BBVA México (US$200 million revolving facility maturing 2031), and undisclosed lenders (US$600 million in dual 5-year facilities). The trust is managed by Macquarie Asset Management México, with FY26 AFFO guidance of Ps 2.60-2.70 per certificate representing approximately 3% growth at midpoint, and total shareholder return of 33% in USD for 2025.

Name

FIBRA Macquarie

Legal name

FIBRA Macquarie México

Website

https://fibramacquarie.com

Company type

Public

Founded year

2012

Operating status

Operating

Headcount range

51–100 employees

Short description

FIBRA Macquarie (BMV: FIBRAMQ) is a Mexican real estate investment trust operating 262 industrial and retail properties totaling 36.6 million sq ft across 20 cities, serving manufacturing, logistics, distribution, and retail tenants in Mexico with an internal property administration platform and sustainability-linked financing.

Ownership category

akta.pro rank

Product category

Industrial and Retail Real Estate / REIT

NAICS

Lessors of Real Estate (5311), Other Financial Vehicles (52599)

SIC

Real Estate Dealers (For Their Own Account) (6532), Operators Of Nonresidential Buildings (6512)

akta.pro primary industry

Real Estate Investment Management (Acquisitions & Dispositions) (BPAJAMAK)

akta.pro secondary industry

Real Estate Investment Sales (Income-Producing Properties) (FSAEAJAC)

Keywords

• Industrial real estate leasing
• Retail shopping centers
• Mexican REIT operations
• Property administration services
• Logistics and manufacturing facilities

Headquarters

HQ city

Mexico City

HQ country

Mexico

HQ region

Latin America

Offices1 record

Markets served

GTM type

B2B

Offering type

Services

Cost components

Personnel, Operations, Infrastructure, Technology or R&D, Marketing or Sales, Supply Chain

Revenue model

1. Industrial Property Leasing: Rental income from industrial properties across 20 cities in Mexico, including manufacturing and logistics facilities. Occupancy rates of 95.5% for industrial portfolio, with lease renewal spreads of 20% for full year 2025.
2. Retail Property Leasing: Rental income from retail shopping centers across Mexico, including properties in Mexico City Metropolitan Area, Monterrey, Cancun, and other locations. Retail occupancy at 94.1%.
3. Development Projects: Select development and build-to-suit projects for industrial properties, not exceeding 5% of total GLA at any point. Includes recent 124-hectare industrial land parcel development in Tijuana's Boulevard 2000 submarket.

Pricing tiers

Go-to-market motion1 record

Distribution channels3 records

Marketing channels4 records

Core offering

FIBRA Macquarie acquires, owns, leases and manages a portfolio of industrial and retail real estate properties across 20 cities in Mexico, comprising 262 properties with 36.6 million square feet of gross leasable area and US$3.6 billion in total asset value as of December 31, 2025. The company generates rental income from manufacturing, logistics, distribution and retail tenants, supported by an in-house Property Administration Platform with approximately 90 employees across 10 regional offices. Select development projects (capped at 5% of total GLA) and green industrial park developments targeting LEED certification extend the core offering.

Product overview

FIBRA Macquarie is a Mexican real estate investment trust (FIBRA) listed on the Bolsa Mexicana de Valores (ticker: FIBRAMQ) that operates one of the largest industrial and retail real estate portfolios in the Mexican market. The company offers three core product lines: (1) an industrial real estate portfolio of 245+ properties across manufacturing, logistics, and distribution sectors in key markets; (2) a retail/commercial portfolio of 17 shopping centers targeting necessity and lifestyle retail; and (3) an internal property administration platform with ~90 employees providing full-service property management. The company also offers green industrial development through sustainability-linked financing mechanisms, with recent launches including the UBIQ³ Santa Fe Business Park in Tijuana (US$90M, 70,000m²) and LEED Gold-targeted industrial park development. Properties span 20 cities with total gross leasable area of 36.6 million sq ft and total asset value of US$3.6 billion as of December 31, 2025.

Differentiator

Problem solved

Functional benefit

Products and services

• Industrial Real Estate Portfolio Leasing A Class A industrial property leasing portfolio comprising manufacturing, logistics and distribution facilities across 20 cities in Mexico, with a focus on key manufacturing and border markets including Monterrey, Ciudad Juárez, Reynosa and Tijuana. Occupancy at 95.5% for industrial portfolio as of December 31, 2025, with lease renewal spreads of 20% for full year 2025. Targeted at manufacturing, logistics and distribution enterprises, including those supporting nearshoring cross-border trade with the US.
• Retail Real Estate Portfolio Leasing A retail shopping center portfolio across Mexico, primarily concentrated in the Mexico City Metropolitan Area (MCMA), Monterrey and select regional markets, anchored by necessity-based, value-based and lifestyle-focused tenants. Includes anchor leases such as Fábricas de Francia (El Puerto de Liverpool) in Tecamac and Tuxtepec. Retail occupancy at 94.1% as of December 31, 2025.
• Internal Property Administration Platform (MPA) Internal property management platform administering the industrial property portfolio with approximately 90 employees in 10 offices across Mexico, offering leasing, engineering, accounting, legal, marketing and technology services to ensure high-quality management and maintenance of properties. Enables direct customer relationships and reduces operating costs.
• Green Industrial Park Development Sustainable industrial property development targeting LEED certification standards for energy efficiency and environmental performance, with projects across Mexico's main economic hubs. Includes the UBIQ³ Santa Fe Business Park in Tijuana (approximately US$90 million investment, 70,000 sqm of leasable space) developed in partnership with Grupo Frisa.
• Tijuana Industrial Land Acquisition - Boulevard 2000 Development of a 124-hectare Class A industrial park in Tijuana's Boulevard 2000 submarket with 3.4 million square feet of potential GLA and a 90 MW dedicated substation, phased over multiple years to LEED Gold certification. Targeted at nearshoring-driven manufacturing, logistics and distribution tenants in the US-Mexico border region.

Quantifiable outcome

• Record FY25 AFFO of US$118.3 million, up 4.1% year-over-year
• +4 more outcomes

Named customers3 records

Segments2 records

Ideal customer profiles3 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Feature2 records

Partnerships

Three partnerships are on record, tiered core.

• Prologis Property México / FIBRA PrologiscoreStrategic or Co-development Partner · 27 February 2026Binding Transaction and Covenant Agreement signed with Prologis Property México for planned tender offer for FIBRA Macquarie's CBFIs and transfer of management rights to FIBRA Prologis. FIBRA Prologis intends to launch tender offer and exchange transaction for up to 100% of outstanding FIBRA Macquarie CBFIs at fixed exchange ratio of 0.525 FIBRA Prologis CBFIs per CBFI or cash alternative of MX$40 (US$2.33) per CBFI (20% premium to 60-day VWAP). Subject to regulatory approvals from CNBV with tender offer expected Q2 2026. Includes planned reduction in asset management fees for combined vehicle.
• Grupo FrisacoreStrategic or Co-development Partner · 24 February 2026Joint venture partnership for UBIQ³ Santa Fe Business Park in Tijuana with approximately US$90 million investment. Project comprises four modern industrial buildings offering around 70,000 square meters of leasable space for logistics, manufacturing and distribution operations.
• Macquarie Asset Management MéxicocoreOthers · 19 February 2026Parent company managing FIBRA Macquarie through its asset management platform. The manager provides institutional management expertise and internal property administration platform for the FIBRA.

Scale indicators15 records

Recent moves7 records

Expansion highlights6 records

Broad incumbents

• EastGroup Properties: US Sunbelt-focused industrial REIT targeting manufacturing and distribution tenants in high-growth markets, directly comparable to FIBRA Macquarie's thesis of capturing manufacturing reshoring/nearshoring demand.
• Rexford Industrial Realty: US Southern California-focused industrial REIT whose infill, supply-constrained strategy in last-mile markets parallels FIBRA Macquarie's focus on Class A space in supply-constrained Mexican manufacturing corridors.
• Prologis: Global leader in industrial real estate and parent of FIBRA Prologis; the strategic counterparty in the pending tender offer and a benchmark for valuation, capex discipline and platform scale across the Mexican industrial market.
• First Industrial Realty Trust: US-listed pure-play industrial REIT (NYSE: FR) founded by a current FIBRA Macquarie board member (Michael Brennan); provides a relevant North American benchmark for industrial REIT operating metrics and capital structure.
• Terreno Realty: US industrial REIT focused on coastal infill markets; useful comp on small-format Class A industrial fundamentals relevant to FIBRA Macquarie's higher-occupancy, smaller-bay logistics assets.
• GLP (Global Logistic Properties): Global logistics real estate platform with meaningful Latin American exposure; relevant benchmark for cross-border institutional capital flows into Mexican industrial and the long-run development pipeline thesis.

Direct peers

• Fibra Uno: Mexico's largest diversified REIT with meaningful industrial exposure alongside retail and office; competes for the same institutional tenant base and capital pool in Mexico, and Fibra Monterrey is part of the Fibra Uno group competing in the FIBRA Macquarie bid.
• Vesta: Mexican industrial real estate company (NYSE/BMV-listed) owning and developing Class A logistics and manufacturing facilities across Mexico, serving many of the same nearshoring-driven tenants as FIBRA Macquarie.
• FIBRA Prologis (Terrafina): Mexico's largest industrial REIT and the most direct competitor to FIBRA Macquarie in Class A industrial/logistics space across Mexican manufacturing corridors. The pending Prologis-led tender offer for FIBRA Macquarie further tightens this competitive and strategic linkage.

Emerging players

• Fibra Next: Newer Mexican industrial-focused FIBRA pursuing a similar Class A industrial strategy targeting nearshoring demand; one of the announced competing bidders for FIBRA Macquarie.

Market position

Strengths4 records

Weaknesses4 records

Competitive moat6 records

Key risks6 records

Key highlights7 records

Customer concentration

• LinkedInlinkedin.com/company/fibra-macquarie-mexico

Compliance3 records

Revenue estimate

Valuation estimate

Number of profiles

Profiles11 records

Funding overview

Funding rounds7 records

Investors5 records

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

M&A

Investments

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

Frequently asked questions about FIBRA Macquarie