Fibra MTY increases office occupancy

Fibra MTY announced that in collaboration with Colliers as real estate agent, signed in early April an office lease for more than 6,700 square meters (m2), with the possibility of extending up to 8,000 m2.

According to the press release, this transaction exceeds the total leasing volume recorded during the first quarter of 2025 and represents the largest single transaction in the sector since the start of the Covid-19 pandemic.

While the name of the tenant was not disclosed, the real estate trust indicated that the lease has a 10-year term, agreed in dollars and contemplates annual increases linked to inflation.

It is worth noting that the tenant is a client already present in Fibra MTY's industrial portfolio, which reaffirms both the quality of service and the strength of the long-term relationships that characterize the issuer.

According to its report for the first quarter of 2025 (1Q25), Fibra MTY closed this period with 117 properties, of which 93 are for industrial use, 18 for offices and 6 for commercial, maintaining an occupancy rate of 95.3%, calculated by ABR.

Likewise, it was mentioned that the real estate trust in its properties has managed to renew 83.0% of the leases that expired during the same period, calculated based on rental income.

With respect to the office portfolio, during 1Q25 approximately 9,200 m2 were vacated, mostly explained by scheduled departures. Subsequent to the close of the quarter, and as of the date of this report, Management managed to market more than 6,700 m2, so the drop in occupancy in the office sector is expected to be temporary.

The average rental price per square meter was US$19.2 for corporate offices and US$16.5 for operating offices.