Mexico City, Mexico, June 22, 2026 – Fibra Mty has won the fight for Fibra Macquarie, turning a crowded bidding contest into one of Mexico’s largest industrial real estate consolidation stories of the year.
The offer moved forward after more than 80% of Fibra Macquarie’s outstanding CBFIs were tendered, clearing the main acceptance condition. The result gives Fibra Mty a path to control a portfolio built around warehouses, logistics properties, manufacturing space, and retail assets across Mexico.
Investors are still paying close attention to the real estate behind Mexico’s factories, delivery networks, and supply chains.
A bidding fight with a clear winner
Fibra Mty’s final offer raised the exchange ratio to 3.20 Fibra Mty CBFIs for each Fibra Macquarie CBFI. It also included a cash option of 44 pesos per Fibra Macquarie CBFI, capped at about 8.9 billion pesos.
The stronger offer followed pressure from two rivals. Fibra Prologis had proposed 0.525 of its own CBFIs for each Fibra Macquarie CBFI, with a 44-peso cash option. Fibra Next later improved its proposal to 0.475 of its CBFIs, or 47.50 pesos in cash, subject to a larger cash cap.
Fibra Macquarie was attractive because it already had scale. As of March 31, it reported 245 industrial properties and 17 retail properties in 20 cities across 16 Mexican states.
Why industrial space drew three bidders
Fibra Macquarie’s value is tied heavily to industrial real estate. That includes warehouses, manufacturing buildings, logistics parks, and properties near trade routes.
Those buildings have gained importance as companies look for space closer to the United States and Canada. Nearshoring is often discussed in broad terms. In practice, it depends on the availability of buildings, power, roads, labor, and access to customers.
What a FIBRA does
A FIBRA is Mexico’s version of a real estate investment trust. These vehicles own income-producing properties and trade through certificates known as CBFIs.
For smaller investors, FIBRAs offer access to real estate without having to buy property directly. For larger companies, becoming platforms for growth is possible.
That platform value helped make Fibra Macquarie a target. Fibra Mty does not have to build the portfolio one property at a time. It can gain scale through the acquisition.
A strong market with uneven pressure
Mexico’s industrial real estate market remains active, but it is not moving the same way in every city. Some corridors still have tight vacancy. Others are adjusting after several years of new construction.
In Mexico City’s industrial market, Colliers reported that new supply increased in the first quarter of 2026. Vacancy stayed low at 4.2%, while rental rates continued to rise.
Fibra Macquarie’s own first-quarter report showed the same demand pressure. The trust reported 1.6 million square feet of industrial leasing volume and a 6.1% year-over-year increase in industrial rental rates.
Industrial assets are still valued for the income they produce today and the space they control for future growth.
The work now shifts to Fibra Mty
Fibra Mty’s win does not end the business test. It now has to prove the larger platform can create value.
A larger portfolio can provide tenants with more locations, reduce duplicate costs, and improve access to capital. It can also bring integration risks, debt questions, and pressure to justify the final terms.
The market has already shown that Fibra Macquarie’s properties were worth fighting for. Fibra Mty now has to show that owning them makes the combined platform stronger.
