Fibra Storage to Invest 827 Million Pesos in Projects Under Development in 2022
- Fibra Storage plans to invest 827 million pesos in capital expenditures in 2022 to complete its development projects and expand its property portfolio.
- Despite the pandemic, the real estate trust has remained active in investments, acquiring land and properties, and expanding into new markets, including the acquisition of five branches under the "Guardabox" brand. Fibra Storage is also finalizing its management internalization process to establish a strong corporate governance structure.
Fibra Storage, a real estate investment trust that rents mini-storage units in Mexico City, plans to invest 827 million pesos in capital expenditures (capex) in 2022 to complete its ongoing development projects and additional phases. The company's current property portfolio has the potential to grow to 173,903 square meters of gross leasable area, with approximately 44,179 square meters in various stages of development as of September.
Despite the ongoing pandemic, the real estate trust remained active in investments by acquiring land for future developments and properties operating under the U-Storage brand but previously managed by third parties. It also expanded into new markets and diversified its brand by acquiring five branches under the "Guardabox" brand in the Guadalajara metropolitan area and San Luis Potosí. Other acquisitions included the Imán branch in Mexico City, the Río San Joaquín land near Polanco, the Paseo Interlomas branch in the Mexico City metropolitan area, the flagship Roma property on Viaducto Avenue, the second phase of the Lindavista property, and the San Antonio branch.
Furthermore, Fibra Storage is nearing the completion of its management internalization process, aiming to establish a strong corporate governance structure aligned with the interests of its investors and serving as a benchmark in the industry.
