Developers Prepare Mall Fibra

A trio of real estate developers is aiming to give Mexico its first shopping center-based Fibra, to be known as Fibra Shop. The real estate fund is targeting about MXP7.4bn ($561m), according to initial regulatory documents, in a pricing as soon as July. Specifics on the size and timing remain to be determined. Developers Grupo Cayon, Grupo Aportante Frel and Grupo Central de Arquitectura are placing eight shopping centers in five Mexican states into the portfolio, and raising proceeds to acquire more. Actinver, Bank of America Merrill Lynch, Banorte-Ixe and BTG Pactual are managing.