Leading global law firm Baker McKenzie announced today that it represented Mexican real estate investment trust Fibra MTY in connection with its approximate $500 million offering of Real Estate Trust Certificates, also known as CBFIs (Certificados Bursátiles Fiduciarios Inmobiliarios). The offering was made internationally pursuant to Rule 144A and Regulation S and represented Fibra MTY's debut in the international capital markets in what is believed to be the largest international IPO out of Mexico in the last five years.
Launched in 2014, Fibra MTY acquires and manages industrial, retail and office properties across Mexico with a particular focus on northern Mexican states. The trust owns properties in 14 Mexican states, covering over 1.6 million square meters of gross leasable area. The vehicle made its capital markets debut in Mexico in 2015 by raising US$120 million in an IPO. Fibras are investment vehicles dedicated to the acquisition and development of real estate assets in Mexico.
The CBFIs are listed on the Mexican Stock Exchange. The proceeds received by Fibra MTY will be used for the acquisition of additional properties, the payment of maintenance capital expenditures in connection with improvements to its properties and costs related to expansions and other corporate purposes.
Transactional Practice Group partners Mike Fitzgerald, Arturo Carrillo and Pedro Reyes led the Baker McKenzie team, which also included associates Carolina Gonzalez and Nicole Gresati-Fernandez. Additional advice was provided by tax partners Thomas May and Amir-Kia Waxman.
Other law firms participating on this transaction included Simpson Thacher (as underwriters' New York counsel), Mijares (as issuer's Mexican counsel) and Creel (as underwriters' Mexican counsel).
The global coordinators for the international offering were Citigroup, BTG Pactual and Goldman Sachs.
Baker McKenzie lawyers also represented Fibra MTY in a non-U.S. private placement of CBFIs in 2022.
Launched in 2014, Fibra MTY acquires and manages industrial, retail and office properties across Mexico with a particular focus on northern Mexican states. The trust owns properties in 14 Mexican states, covering over 1.6 million square meters of gross leasable area. The vehicle made its capital markets debut in Mexico in 2015 by raising US$120 million in an IPO. Fibras are investment vehicles dedicated to the acquisition and development of real estate assets in Mexico.
The CBFIs are listed on the Mexican Stock Exchange. The proceeds received by Fibra MTY will be used for the acquisition of additional properties, the payment of maintenance capital expenditures in connection with improvements to its properties and costs related to expansions and other corporate purposes.
Transactional Practice Group partners Mike Fitzgerald, Arturo Carrillo and Pedro Reyes led the Baker McKenzie team, which also included associates Carolina Gonzalez and Nicole Gresati-Fernandez. Additional advice was provided by tax partners Thomas May and Amir-Kia Waxman.
Other law firms participating on this transaction included Simpson Thacher (as underwriters' New York counsel), Mijares (as issuer's Mexican counsel) and Creel (as underwriters' Mexican counsel).
The global coordinators for the international offering were Citigroup, BTG Pactual and Goldman Sachs.
Baker McKenzie lawyers also represented Fibra MTY in a non-U.S. private placement of CBFIs in 2022.
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