Fibras, CKD’s and reits – El Financiero

The economies of the developed world are currently analyzing the post-Covid world. A clear example of this is the economy of the United States, with its new president who received congressional approval fromUS Bailout Act 2021(March 11, 2021) – A $ 1.9 trillion financial support plan.

This plan comes down to Support families financially, Support in reopening schools and businesses, resolving declining state income, and helping families with mortgage delays, among other things.

This support, along with the support provided in the Trump administration, is from an economic point of view and its representation of GDP (about 27% of GDP), a plan similar to President Franklin D. Roosevelt’s “New Deal”. The thirties.

The plan seeks to support President J. Biden to revitalize the economy and givetorsionToward support Economic sectors Disadvantaged and environmental issues, supporting sectors with an environmental vision (i.e. clean energy). The plan has already started and families have already received support “checks” since March 2021.

It is enough to go to the neighboring country, visit malls and restaurants, and there is an increasing influx of expatriates that will definitely appear in the quarterly economic reports of these companies. The Economic revitalization It has already started and according to analysts, the US economy will grow between 6% -8%, in nominal terms, in 2021.

And in our country, regardless of the fact that the federal government did not support intellectual property in the same way (i.e. a symbolic subsidy of 25,000 pesos), the economic growth of our northern neighbor will affect us positively and in terms of Real estate, The industrial sector is a profitable sector in the Covid period, and it will be a sector that has a lot of traction in the post-Covid period.

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FIBERS in this sector (Pure Players – Fibra Prologis, Terrafina and Fibra Macquarie) have experienced a very favorable and flexible period for the economic conditions they have experienced since 2020. FMTY Incorporated with a mix of office and industrial, Financial numbers have been reported Strong as the industrial sector represents nearly half of its portfolio and it is expected that this sector itself will have the greatest growth opportunities in the coming years.

The industrial sector is a type of asset that institutional capital has seen with very good eyes because it has credit quality in tenants (large companies with collateral), rental income in dollars and financing too. Competition in the same currency, Among other variants. All these variables have created a business position with a positive margin and limited risk (large firms are more likely to fulfill their financial obligations in a timely manner).

With the new trade agreement TMEC and the change in the rules of origin (higher percentage of local participation in products), is to be expected Increased investment in manufacturing For exporting makila. Additionally, if we include growth in national consumption and e-commerce, we will make logistics (a space for product storage) a pillar of growth in the coming years. Every time we pass by Institutional industrial complexes, We are aware of the construction of new buildings and the absorption of warehouses from stock has had a positive trend.

When speaking of small and medium enterprises (SMEs), several industrial developments with this approach have spread to many cities of the country. Industrial areas With a width of land (+1000 square meters) or warehouses (+700 square meters) in planned projects, with infrastructure and some facilities that help the sector and provide elements to achieve efficiency in production.

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Given the economic outlook for our region, the Economic incentives Given the governments and changes in the way of doing business in the world, industrial real estate will be a sector with many growth opportunities in the medium term (i.e. manufacturing, logistics and last mile). For these reasons, institutional capital (CKDs and Institutional Funds) has flowed rapidly into this sector and we hope that the strong presence of these groups will not affect the equilibrium prices of land / leases.

Aileen Morales

"Beer nerd. Food fanatic. Alcohol scholar. Tv practitioner. Writer. Troublemaker. Falls down a lot."

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