VYNMSA and FIBRA Monterrey Negotiate $22 Million Acquisition of Two Industrial Buildings

VYNMSA and FIBRA Monterrey are moving forward with the sale of two industrial buildings in Santa Catarina, Nuevo León, for approximately $22 million. The properties, identified by SiiLA as SPEC VI and SPEC VII at VYNMSA Santa Catarina Industrial Park, have a combined gross leasable area of 21,306 square meters and are occupied by Sultana and Zinkteknik, respectively.

FIBRA Monterrey announced on October 19 that it had signed an agreement to acquire the portfolio, although the transaction remains subject to certain conditions. The announced price excludes VAT on the buildings, as well as other taxes and expenses associated with the acquisition.

The portfolio also includes approximately 7,500 square meters of land reserved for potential expansion of the leasable area. Both buildings are currently fully occupied under dollar-denominated leases with annual inflation adjustments and a weighted average remaining lease term of 4.2 years. In addition, tenants cover operating expenses, insurance, property taxes, and maintenance, leading FIBRA Monterrey to estimate net operating income of $1.68 million in the first year after the acquisition, equivalent to an initial yield of about 7.6% on the announced purchase price, before transaction costs.

The negotiations follow FIBRA Monterrey’s substantial portfolio expansion through the acquisition of a majority stake in FIBRA Macquarie, a transaction that increased the trust’s property count from 118 to 383 between June 2025 and June 2026, while its gross leasable area rose 180.2% to 5.58 million square meters. It subsequently acquired an industrial building in Guanajuato for approximately $24 million and signed an agreement to sell an office building in Guadalajara for 359 million pesos.

With Macquarie’s addition, FIBRA Monterrey also increased its share among Mexico’s largest industrial property owners. According to SiiLA data, the two trusts’ portfolios account for about 6.6% of industrial space across the country’s main northern, central, and Bajío markets, placing FIBRA Monterrey third behind FIBRA Prologis and FIBRA Uno.

VYNMSA, meanwhile, ranked ninth with a 2.9% share, although its industrial presence extends beyond the properties it retains in its portfolio. According to SiiLA, the company has developed more than 3.7 million square meters in Mexico and, between 2020 and 2026 alone, delivered more than 100 properties totaling approximately 1.3 million square meters, making it the third-largest developer by space delivered during that period, behind Vesta and FINSA. Buyers and owners of properties developed by VYNMSA include FIBRA Prologis, whose portfolio contains more than 48,600 square meters built by the developer, and Walton Street Capital, which acquired part of its industrial portfolio in 2023.

If completed, the transaction would add to the deals through which some of Mexico’s largest industrial real estate players continue to expand and reorganize their portfolios, showing that, beyond the construction of new buildings, existing properties continue to attract capital from major investors, particularly when they are occupied and generate rental income.

To explore the characteristics of the two industrial buildings VYNMSA and FIBRA Monterrey are negotiating in Santa Catarina, as well as information on other properties and transactions in Mexico’s industrial real estate market, visit SiiLA Market Analytics or email us at contacto@siila.com.mx.