Macquarie Enters Fibra Queue

Macquarie is planning to put real estate assets into a fund to be capitalized in Mexico’s Fibra market, according to regulatory documents. Its Macquarie Mexico Real Estate Unit already counts properties in 15 Mexican states, and will use proceeds from the transaction to acquire more. Details on timing and size are not yet available for the deal, which is to include both international and domestic market portions. Bank of America Merrill Lynch, BBVA, JPMorgan and Morgan Stanley are managing the transaction, which is part of a wave of recent deals being prepared in the asset class. Hoteles Prisma and Grupo GDI are both preparing hotel-focused funds. Issuers are spurred on both by a successful follow-on earlier this year from Fibra Uno, still the only completed Fibra, as well as optimism for Mexico’s economic development in the next few years, which will have particular advantages for the real estate sector.