Fibra Storage to invest 103 million pesos in Guadalajara and San Luis Potosí
- Fibra Storage, a real estate trust specializing in the development and leasing of self-storage units in Mexico, has entered into a contract to acquire five branches located in Guadalajara and San Luis Potosi.
Fibra Storage, a real estate trust specialized in the development and leasing of self-storage units in Mexico, has announced that it has entered into a purchase agreement that includes leasing rights, construction of self-storage units, and operation under the "Guardabox" brand. This agreement grants them the management of five branches located in Guadalajara and San Luis Potosí.
The transaction amount for this deal is 103 million pesos, and a contingent payment ("earnouts") based on the asset performance during 2022 and 2023 has been agreed upon.
The agreement was executed on October 15th and has been negotiated to be settled 70% in cash and 30% in Real Estate Trust Certificates (CBFI) currently held in the Trust's treasury, with a reference value of 19.10 pesos per share. These payments will be made during the month of October and before December 30, 2021.
