Fibra Nova Enters into a New Lease Agreement with Estra Automotive

Banco Actinver, acting as the trustee of Fibra Nova, has signed an amendment agreement with Estra Automotive to extend the lease contract of a property in Monterrey.
The expansion adds an additional 3,081 square feet and restarts the lease term for 5 years, with the option for additional renewals.

Industrial warehouses are an essential investment asset for REITs in Mexico. Photo: SiiLA.

04/05/2022

Chihuahua, Mexico - April 4, 2022: Banco Actinver, S.A. Institución de Banca Múltiple, Grupo Financiero Actinver, as the trustee of Trust F/2870 or Fibra Nova (BMV: FNOVA), a Mexican infrastructure and real estate trust, has announced the signing of an amendment agreement with Estra Automotive to extend the lease agreement.

This agreement includes the expansion of the leased property in Monterrey by an additional 3,081 square feet. It also restarts the lease term for 5 years from the substantial delivery date of the new development, with the option of two additional renewal periods of 3 years each.

The total Area Bruta Rentable (ABR) will reach 53,311 square feet with this extension.About Fibra Nova:Fibra Nova, identified as No. F/ 2870, is a real estate investment trust (FIBRA) that began operations on August 3, 2017.

Fibra Nova's primary strategy focuses on the acquisition, leasing, operation, and development of real estate in sectors with economic dynamism. These sectors include industrial, retail, and educational sectors, which benefit from the demographic dividend.

Read the full article (in Spanish)

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