FIBRA UPSITE reports 90% annual increase in net income

UPSITE FIBRA demonstrates strong financial performance and resilience amidst the pandemic.
The company's portfolio of properties maintains 100% occupancy and shows consistent growth.

UPSITE FIBRA: Resilience and Growth in the Real Estate Sector during the Pandemic.

By: SiiLA News

08/04/2020

PSITE Fibra, a real estate investment trust in Mexico, has released its financial results for the second quarter of 2020. Despite the economic challenges posed by the COVID-19 pandemic, the company's target sectors have demonstrated resilience, with minimal impact on its market. The occupancy rate for UPSITE's property portfolio stands at 100%, and all contracts are denominated in US dollars with an average maturity of 8.4 years. The company's net income has seen a substantial annual growth of 90.5% in the second quarter.

Rodolfo Balmaceda, director and president of UPSITE's technical committee, emphasized the defensive qualities of the sectors UPSITE serves, which have helped maintain stability for the company's clients during the current economic crisis. The company's focus on modern properties located in key industrial corridors in Mexico, particularly in the central and northern regions of the country, has positioned it well to support businesses engaged in high-growth sectors such as export and logistics. UPSITE's financial results reflect the strength of its property portfolio and its strategic focus on supporting digital and international trade activities.

Overall, UPSITE Fibra's second-quarter financial results highlight its resilience in the face of the COVID-19 pandemic, with robust occupancy rates, strong net income growth, and a strategic portfolio positioned in key industrial areas of Mexico. The company's ability to serve sectors with steady demand has allowed it to navigate the economic challenges successfully and maintain stability for its clients.

Read full article (in spanish).

Latam

Mexico

National

CRE

Market Analytics

Fibras

ABOUT SiiLA

Founded in 2015, SiiLA is the industry leading REsource for comprehensive commercial real estate market insights, news and events across Latin America. The SiiLA suite of innovative products drive greater accuracy, efficiency, and strategic advantages for top players in the commercial real estate industry.