Leading global law firm Baker McKenzie announced today that the New York office represented BBVA, BTG Pactual, Citigroup, J.P. Morgan and Morgan Stanley, as global coordinators, and Barclays, BofA Securities, Goldman Sachs and Santander, as joint bookrunners, in connection with their exercise in full of the over-allotment option to purchase an additional 5,500,000 Real Estate Trust Certificates, also known as CBFIs (Certificados Bursátiles Fiduciarios Inmobiliarios) of Fibra Next.
The exercise of the over-allotment option was a testament to the success of the follow-on equity offering and resulted in additional proceeds to Fibra Next of approximately USD30 million. After giving effect to the full exercise of the over-allotment option, the combined value of Fibra Next's IPO and follow-on offering is approximately USD900 million.
The CBFIs were offered publicly in Mexico on the Mexican Stock Exchange and were made internationally pursuant to Rule 144A and Regulation S.
Fibra Next was created as a result of a split off by Fibra Uno, the largest real estate company in Latin America, of its logistics operations, forming the largest warehouse and logistics company in Mexico. The proceeds received by Fibra Next from the follow-on offering and over-allotment exercise will be used primarily for the acquisition of an industrial real estate portfolio to be contributed to Next Properties.
Baker McKenzie also represented Fibra Next in connection with its approximately USD450 million initial public offering earlier this year and its USD370 million follow-on offering.
Transactional Practice Group Partners Mike Fitzgerald, Arturo Carrillo, Joy Gallup, Pedro Reyes and Steven Sandretto led the Baker McKenzie team, which also included associates Alejandra Cuadra and Diego Aznar, as well as Tax Senior Counsel Thomas May and Partner Kia Waxman.
Other law firms participating in this transaction included Holland & Knight (as Fibra Next’s US and Mexican counsel) and Mijares (as initial purchasers' and dealer managers' Mexican counsel).
With more than 2,500 deal practitioners in more than 40 jurisdictions, Baker McKenzie is a transactional powerhouse. The Firm’s NY office has participated in more Mexican corporate equity offerings in 2025 (by number of deals and amount raised) than any US law firm.
The exercise of the over-allotment option was a testament to the success of the follow-on equity offering and resulted in additional proceeds to Fibra Next of approximately USD30 million. After giving effect to the full exercise of the over-allotment option, the combined value of Fibra Next's IPO and follow-on offering is approximately USD900 million.
The CBFIs were offered publicly in Mexico on the Mexican Stock Exchange and were made internationally pursuant to Rule 144A and Regulation S.
Fibra Next was created as a result of a split off by Fibra Uno, the largest real estate company in Latin America, of its logistics operations, forming the largest warehouse and logistics company in Mexico. The proceeds received by Fibra Next from the follow-on offering and over-allotment exercise will be used primarily for the acquisition of an industrial real estate portfolio to be contributed to Next Properties.
Baker McKenzie also represented Fibra Next in connection with its approximately USD450 million initial public offering earlier this year and its USD370 million follow-on offering.
Transactional Practice Group Partners Mike Fitzgerald, Arturo Carrillo, Joy Gallup, Pedro Reyes and Steven Sandretto led the Baker McKenzie team, which also included associates Alejandra Cuadra and Diego Aznar, as well as Tax Senior Counsel Thomas May and Partner Kia Waxman.
Other law firms participating in this transaction included Holland & Knight (as Fibra Next’s US and Mexican counsel) and Mijares (as initial purchasers' and dealer managers' Mexican counsel).
With more than 2,500 deal practitioners in more than 40 jurisdictions, Baker McKenzie is a transactional powerhouse. The Firm’s NY office has participated in more Mexican corporate equity offerings in 2025 (by number of deals and amount raised) than any US law firm.
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