FIBRA Educa Buys a Plot of Land Nearly the Size of Its Entire Portfolio

On Aug. 28, FIBRA Educa announced the purchase of 51.5 hectares (515,000 square meters) in Silao, Guanajuato, to expand its land reserve and pursue future growth opportunities. The scale of the acquisition becomes clearer when compared with the real estate trust’s existing portfolio in Mexico.

At the end of the second quarter of 2026, its 78 properties—including universities, learning centers and offices—totaled 632,655 square meters of gross leasable area (GLA). This means that, in a single transaction, FIBRA Educa acquired a plot of land with a surface area equivalent to more than 80% of the space it leases nationwide.

That proportion does not mean the portfolio will grow by that amount, since a property’s land area does not by itself determine how much leasable space can be developed. Still, even if an area equivalent to just 10% of the land reserve were eventually converted into GLA, it would amount to about 51,500 square meters: 3.7 times the space FIBRA Educa currently has in Guanajuato and about 8% of its entire national portfolio.

Although FIBRA Educa did not disclose the transaction price in its stock exchange announcement, two months earlier, in its latest quarterly report, it had disclosed signing an agreement to acquire land in Silao for 468 million pesos. As part of the agreement, it provided a 168 million peso security deposit.

Beyond the monetary investment, the acquisition marks a potential shift in how FIBRA Educa has grown through purchases. Between 2022 and 2025, it acquired 19 properties that added 181,158 square meters of GLA and began generating rental income upon acquisition. Although the company has not disclosed whether the Silao property currently has any structures, a land reserve of this scale opens an alternative to continuing to buy completed properties. That is, participating earlier in creating assets it could later add to its portfolio.

In fact, FIBRA Educa’s operating model could allow it to develop properties without first building and then looking for tenants. The trust was established with ties to Nacer Global, an education group that contributed its initial assets and whose related entities remain among its tenants. In Guanajuato, for example, FIBRA Educa leases a 13,440-square-meter property to Corporativo UNE for a university in San Miguel de Allende under a 15-year agreement. In that sense, its relationship with education operators creates the possibility of identifying their space needs before deciding what to develop and, therefore, directing construction toward demand identified in advance.

The trust has not disclosed whether any prior agreement exists in Silao. However, a land reserve of that size could allow it to give development a greater role as a growth strategy without abandoning the acquisition of already stabilized properties.

For now, the extent of that possibility remains open. When it signed the agreement in June, FIBRA Educa said it would use the land to develop educational real estate infrastructure; when it announced the acquisition in August, it described the property more broadly as a land reserve for future opportunities. Neither disclosure specifies how much it intends to develop, over what period, for which operator or whether the 51.5 hectares will be part of a single project. What they do make possible, however, is to place the transaction within a strategy that FIBRA Educa had already anticipated a year earlier, when it identified development and financing of new projects for third parties among its growth channels and estimated its overall pipeline of potential opportunities at more than 9 billion pesos.

What happens next can be measured in square meters. Follow the evolution of FIBRA Educa and Mexico’s commercial real estate market on SiiLA FIBRA Analytics, or write to us at contacto@siila.com.mx.