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FIBRA EDUCA's Portfolio Grows

After almost two years without adding properties to its operating portfolio, FIBRA EDUCA, the first Mexican real estate investment trust focused primarily on real estate in the education sector, expands its portfolio.


The FIBRA reported in its financial report to the Stock Exchange that leasing revenues were about $50mdp higher than the previous quarter. This increase derives from updates in the rental value of certain properties.


According to the report, a Net Operating Income (NOI) of 697mdp was recorded, which represents an increase of 5.42%, compared to the first quarter of 2021. Likewise, Funds from Operations (FFO) amounted to 702mdp representing an increase of 27mdp compared to the same quarter of the previous year.


After two years without new acquisitions, FIBRA EDUCA added 4 100% leased properties to its portfolio. The tenant is UNIDEP - Universidad del Desarrollo Profesional - a company dedicated to the education industry. The 4 properties occupied by this tenant are aligned with FIBRA's growth plan and at the time of the acquisition, a 15-year lease agreement was signed. The acquired properties total a gross leasable area (GLA) of 16,563m2 and are located in strategic points of the country: Coahuila, Baja California Norte, Sonora and Sinaloa.


UNIDEP - Culiacán


According to Real Estate Market & Lifestyle, FIBRA EDUCA has in the pipeline the acquisition of a property located in El Bajio of the Mexican Republic, such transaction is expected for the second half of the year.


FIBRA currently manages a portfolio of 63 fully occupied properties, distributed as follows: 23 properties operating in the education sector, 35 learning centers, and 5 office buildings. Located in different states such as: CDMX, State of Mexico, Hidalgo, Jalisco, San Luis Potosi, Nuevo Leon, Aguascalientes and Quintana Roo.