- FIBRA Prologis Announces First Quarter 2026 Earnings Results
Apr 29, 2026
MEXICO CITY, April 29, 2026 /PRNewswire/ -- FIBRA Prologis (BMV:FIBRAPL 14), a leading owner and operator of Class-A industrial real estate in Mexico, today reported results for the first quarter 2026.
HIGHLIGHTS FROM THE QUARTER:
Net effective rents on rollover were 59.6 percent. Period-end and average occupancy were 97.0 and 97.4 percent, respectively. Customer retention was 81.2 percent. Same store cash NOI was 9.9 percent.
Net earnings per CBFI was US$0.1067 for the quarter compared with US$0.0985 for the same period in 2025.
Funds from operations (FFO), as modified by FIBRA Prologis per CBFI, was US$0.0601 for the quarter compared with US$0.0609 for the same period in 2025.
SOLID OPERATING RESULTS
"In a more balanced operating environment and amid ongoing trade uncertainty, FIBRA Prologis continues to demonstrate the durability of its portfolio, supported by disciplined execution and strong market positioning across Mexico's key industrial regions. Our results reflect healthy operating fundamentals and a consistent focus on long-term value creation for our shareholders," said Héctor Ibarzábal, CEO of FIBRA Prologis.
Operating Portfolio 1Q26 1Q25 1Q26 Notes Period End Occupancy 97.0 % 98.8 % Five markets above 96%. Average Occupancy 97.4 % 98.1 % Above 97% since 2Q21. Leases Commenced 3.6 MSF 3.0 MSF The activity was concentrated mainly in Mexico City and Juarez. Customer Retention 81.2 % 93.6 % Net Effective Rent Change 59.6 % 65.2 % Led by Mexico City and Tijuana. Same Store Cash NOI 9.9 % 2.0 % Led by rent change, annual rent increases and FX. Same Store Net Effective NOI 10.7 % 4.6 % Led by rent change and annual rent increases.
FINANCIAL POSITION
As of March 31, 2026, FIBRA Prologis' leverage was 25.0 percent and liquidity was approximately US$ 1.1 billion, which included US$990 million of available capacity on its unsecured credit facility and US$76 million of unrestricted cash.
WEBCAST & CONFERENCE CALL INFORMATION
FIBRA Prologis will host a live webcast/conference call to discuss quarterly results, current market conditions and future outlook.
Call details:
Thursday, April 30, 2026, at 9 a.m. Mexico Time. Access the live webcast at www.fibraprologis.com, in the Investor Relations section, by clicking Events. Dial in: +1 888 596 4144 or +1 646 968 2525 and enter Passcode 4603995.
A telephonic replay will be available April 30 - May 7 at +1 800 770 2030 from the U. S. and Canada or at +1 647 362 9199 from all other countries using conference code 4603995. The webcast replay will be posted in the Investor Relations section of the FIBRA Prologis website under "News & Events".
Story Continues
ABOUT FIBRA PROLOGIS
FIBRA Prologis is a leading owner and operator of Class-A industrial real estate in Mexico. As of March 31, 2026, the company's portfolio comprised 516 Investment Properties, totaling 86.9 million square feet (8.1 million square meters). This includes 350 logistics and manufacturing facilities across 6 industrial core markets in Mexico, comprising 65.8 million square feet (6.1 million square meters) of Gross Leasing Area (GLA) and 166 buildings with 21.1 million square feet (1.9 million square meters) of non-strategic assets in other markets.
FORWARD-LOOKING STATEMENTS
The statements in this release that are not historical facts are forward-looking statements. These forward-looking statements are based on current expectations, estimates and projections about the industry and markets in which FIBRA Prologis operates, management's beliefs and assumptions made by management. Such statements involve uncertainties that could significantly impact FIBRA Prologis financial results. Words such as "expects," "anticipates," "intends," "plans," "believes," "seeks," "estimates," variations of such words and similar expressions are intended to identify such forward-looking statements, which generally are not historical in nature. All statements that address operating performance, events or developments that we expect or anticipate will occur in the future — including statements relating to rent and occupancy growth, acquisition activity, development activity, disposition activity, general conditions in the geographic areas where we operate, expected distributions, and our debt and financial position, are forward-looking statements. These statements are not guarantees of future performance and involve certain risks, uncertainties and assumptions that are difficult to predict. Although we believe the expectations reflected in any forward-looking statements are based on reasonable assumptions, we can give no assurance that our expectations will be attained and therefore, actual outcomes and results may differ materially from what is expressed or forecasted in such forward-looking statements. Some of the factors that may affect outcomes and results include, but are not limited to: (i) national, international, regional and local economic climates, (ii) changes in financial markets, interest rates and foreign currency exchange rates, (iii) increased or unanticipated competition for our properties, (iv) risks associated with acquisitions, dispositions and development of properties, (v) maintenance of real estate investment trust ("FIBRA") status and tax structuring, (vi) availability of financing and capital, the levels of debt that we maintain and our credit ratings, (vii) risks related to our investments (viii) environmental uncertainties, including risks of natural disasters, (ix) risks related to global pandemics, and (x) those additional factors discussed in reports filed with the "Comisión Nacional Bancaria y de Valores" and the Mexican Stock Exchange by FIBRA Prologis under the heading "Risk Factors." FIBRA Prologis undertakes no duty to update any forward-looking statements appearing in this release.
Non-Solicitation - Any securities discussed herein or in the accompanying presentations, if any, have not been registered under the Securities Act of 1933 or the securities laws of any state and may not be offered or sold in the United States absent registration or an applicable exemption from the registration requirements under the Securities Act and any applicable state securities laws. Any such announcement does not constitute an offer to sell or the solicitation of an offer to buy the securities discussed herein or in the presentations, if and as applicable.(PRNewsfoto/FIBRA Prologis)Cision
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- How The FIBRA Prologis (BMV:FIBRAPL 14) Narrative Is Shifting As Fair Value Steadies
Apr 11, 2026
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The updated fair value estimate for FIBRA Prologis has shifted only slightly, from MX$82.98 to MX$83.10, signaling a very modest change in the price target. That small move sits alongside fresh Street opinions, where some analysts are turning more cautious even as the modeled fair value is being adjusted rather than rewritten. As you read on, you will see how to interpret these tweaks in the price target and what to watch as the narrative around FIBRA Prologis continues to evolve.
Analyst Price Targets don't always capture the full story. Head over to our Company Report to find new ways to value FIBRA Prologis.
What Wall Street Has Been Saying
🐂 Bullish Takeaways
The modest move in the updated fair value estimate to MX$83.10 suggests that at least some coverage still sees grounding for the current valuation, rather than a need for a major reset. For investors focused on income and asset quality, the relatively steady fair value modeling can be read as a sign that core assumptions around FIBRA Prologis' portfolio and cash flow profile remain intact in current research frameworks.
🐻 Bearish Takeaways
Itau BBA, through analyst Pablo, recently downgraded FIBRA Prologis, signaling a more cautious stance from that firm even as the fair value estimate has only been tweaked. The Itau BBA downgrade points to rising concern around how current pricing lines up with perceived risks and execution needs, which readers may want to keep in mind when comparing the MX$83.10 fair value marker with where units trade.
Do your thoughts align with the Bull or Bear Analysts? Perhaps you think there's more to the story. Head to the Simply Wall St Community to discover more perspectives!BMV:FIBRAPL 14 1-Year Stock Price Chart
We've flagged 3 risks for FIBRA Prologis. See which could impact your investment.
What's in the News
FIBRA Prologis declared a cash distribution of MX$1,262.1 million (MX$0.7566 per CBFI), with payment scheduled for February 25, 2026, to holders of record on February 24, 2026. A quarterly distribution of MX$0.6462 per CBFI has been announced, payable on February 16, 2026. The ex date and record date are set for February 13, 2026, and the event is categorized as a dividend decrease. A stock split or significant stock dividend of 1.016668145% is planned for February 13, 2026. This will slightly increase the number of CBFIs outstanding. Special or extraordinary shareholders meetings are scheduled for March 17, 2026, and March 30, 2026, both at Paseo de la Reforma Avenue, No 284, 9th floor, Juarez neighborhood, Cuauhtemoc, 06600, Mexico.
Story Continues
How This Changes the Fair Value For FIBRA Prologis
Fair value estimate adjusted from MX$82.98 to MX$83.10. Revenue growth assumption kept at 4.690472%. Net profit margin held at 63.372541%. Future P/E multiple updated from 24.06x to 24.09x. Discount rate moved from 17.013758% to 17.013588%.
Never Miss an Update: Follow The Narrative
Narratives link a company's real world story to a financial forecast and fair value, so you can see how business developments connect to the numbers. They update as new data and research come through, keeping the investment case current.
Head over to the Simply Wall St Community and follow the Narrative on FIBRA Prologis to stay up to date on:
How e commerce, nearshoring and record rental spreads in key markets like Mexico City and Guadalajara are feeding into rent growth and earnings potential. The impact of the Terrafina acquisition, operational efficiencies and government backed infrastructure efforts on cash flow, margins and portfolio demand. Key pressure points such as new industrial supply, higher vacancies, trade and tariff uncertainty, FX swings and potential effects from Terra GLA asset sales on occupancy and distributions.
This article by Simply Wall St is general in nature. We provide commentary based on historical data and analyst forecasts only using an unbiased methodology and our articles are not intended to be financial advice. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. We aim to bring you long-term focused analysis driven by fundamental data. Note that our analysis may not factor in the latest price-sensitive company announcements or qualitative material. Simply Wall St has no position in any stocks mentioned.
Companies discussed in this article include FIBRAPL-14.
Have feedback on this article? Concerned about the content? Get in touch with us directly. Alternatively, email editorial-team@simplywallst.com
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- FIBRA Prologis to Host First Quarter 2026 Earnings Conference Call April 30
Apr 7, 2026
MEXICO CITY, April 7, 2026 /PRNewswire/ -- FIBRA Prologis (BMV: FIBRAPL 14), a leading owner and operator of Class-A logistics real estate in Mexico, will host a webcast and conference call with senior management to discuss first quarter results, current market conditions and future outlook on Thursday, April 30, at 9:00 a.m. Mexico Time.
To access a live broadcast of the call, dial +1 888 596 4144 (toll-free from the United States and Canada), 800 269 4416 (toll-free from Mexico) or +1 646 968 2525 from all other countries or and enter conference code 4603995. A live webcast can be accessed at www.fibraprologis.com in the Investor Relations section April 30.
A telephonic replay will be available April 30 – May 7 at +1 800 770 2030 from the U.S. and Canada or at +1 647 362 9199 from all other countries using conference code 4603995. The replay will be posted in the Investor Relations section of the FIBRA Prologis website.
ABOUT FIBRA PROLOGIS
FIBRA Prologis is a leading owner and operator of Class-A industrial real estate in Mexico. As of December 31, 2025, the company's portfolio comprised 518 Investment Properties, totaling 87.4 million square feet (8.1 million square meters). This includes 350 logistics and manufacturing facilities across 6 industrial core markets in Mexico, comprising 65.9 million square feet (6.1 million square meters) of Gross Leasing Area (GLA) and 168 buildings with 21.5 million square feet (1.9 million square meters) of non-strategic assets in other markets.
FORWARD-LOOKING STATEMENTS
The statements in this release that are not historical facts are forward-looking statements. These forward-looking statements are based on current expectations, estimates and projections about the industry and markets in which FIBRA Prologis operates, management's beliefs and assumptions made by management. Such statements involve uncertainties that could significantly impact FIBRA Prologis financial results. Words such as "expects," "anticipates," "intends," "plans," "believes," "seeks," "estimates," variations of such words and similar expressions are intended to identify such forward-looking statements, which generally are not historical in nature. All statements that address operating performance, events or developments that we expect or anticipate will occur in the future — including statements relating to rent and occupancy growth, acquisition activity, development activity, disposition activity, general conditions in the geographic areas where we operate, our debt and financial position, are forward-looking statements. These statements are not guarantees of future performance and involve certain risks, uncertainties and assumptions that are difficult to predict. Although we believe the expectations reflected in any forward-looking statements are based on reasonable assumptions, we can give no assurance that our expectations will be attained and therefore, actual outcomes and results may differ materially from what is expressed or forecasted in such forward-looking statements. Some of the factors that may affect outcomes and results include, but are not limited to: (i) national, international, regional and local economic climates, (ii) changes in financial markets, interest rates and foreign currency exchange rates, (iii) increased or unanticipated competition for our properties, (iv) risks associated with acquisitions, dispositions and development of properties, (v) maintenance of real estate investment trust ("FIBRA") status and tax structuring, (vi) availability of financing and capital, the levels of debt that we maintain and our credit ratings, (vii) risks related to our investments (viii) environmental uncertainties, including risks of natural disasters, (ix) risks related to the coronavirus pandemic, and (x) those additional factors discussed in reports filed with the "Comisión Nacional Bancaria y de Valores" and the Mexican Stock Exchange by FIBRA Prologis under the heading "Risk Factors." FIBRA Prologis undertakes no duty to update any forward-looking statements appearing in this release.
Story Continues
Non-Solicitation - Any securities discussed herein or in the accompanying presentations, if any, have not been registered under the Securities Act of 1933 or the securities laws of any state and may not be offered or sold in the United States absent registration or an applicable exemption from the registration requirements under the Securities Act and any applicable state securities laws. Any such announcement does not constitute an offer to sell or the solicitation of an offer to buy the securities discussed herein or in the presentations, if and as applicable.(PRNewsfoto/FIBRA Prologis)Cision
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- FIBRA Prologis Announces an Ordinary Certificate Holders Meeting
Mar 19, 2026
MEXICO CITY, March 19, 2026 /PRNewswire/ -- FIBRA Prologis (BMV: FIBRAPL 14), a leading owner and operator of Class-A industrial real estate in Mexico, today announced it will host an ordinary certificate holders meeting on March 30, 2026, at 11:00 a.m. CT.
The meeting agenda includes the following items:
I. Proposal, Proposal, discussion and, if applicable, approval of the Trust's audited annual financial statements, corresponding to the fiscal year 2025, in accordance with Clause 4.3, subsection (a), numeral (i) and other applicable provisions of the Trust Agreement. Actions and resolutions in this regard. II. Proposal, discussion and, if applicable, approval of the Annual Report as of December 31, 2025, in accordance with Clause 4.3, subsection (a), numerals (i), (ii) and other applicable provisions of the Trust Agreement. Actions and resolutions in this regard. III. Proposal, discussion and, where appropriate, ratification, designation and/or removal of each of the Independent Members of the Technical Committee, as well as, where appropriate, qualification or confirmation of their independence in accordance with Clause 4.3, subsection (a), numeral (iii) and Clause 5.2, subsection (b), (ii) of the Trust Agreement. Actions and resolutions in this regard. IV. Proposal, discussion and, where appropriate, ratification of the remuneration of the Independent Members of the Technical Committee, in accordance with Clause 5.3 of the Trust Agreement. Actions and resolutions in this regard. V. Designation of delegates who, where appropriate, formalize and comply with the resolutions adopted at the Assembly. Actions and resolutions in this regard.
Holders who wish to attend the Meeting must submit no later than the business day prior to the date of the meeting: (i) the certificate of deposit issued by S.D. Indeval Institución para el Depósito de Valores, S.A. de C.V., (ii) the list of holders issued for this purpose by the corresponding financial intermediary, if applicable, and (iii) if applicable, the power of attorney signed before two witnesses to be represented at the Holders Meeting or, where applicable, the sufficient general or special mandate, granted in terms of the applicable legislation, at the offices of the Common Representative, located at av. Paseo de la Reforma no. 284, ground floor, col. Juárez, Cuauhtémoc, C.P. 06600, Mexico City, for the attention of Esteban Manuel Serrano Hernández, y/o Giovana Cruz García y/o Alicia Guadalupe González González, from 10:00 a.m. to 3:00 p.m. and from 4:30 p.m. to 5:30 p.m., Monday to Friday, from the date of publication of this call. In addition, Holders are invited to contact the Common Representative, either via email (emserranoh@monex.com.mx) or by telephone (55 5230-0296) in case they have any questions related to the scope of the matters that make up the agenda of the Assembly.
Story Continues
For more information, please visit the Investor Relations section of the FIBRA Prologis website at www.fibraprologis.com.
ABOUT FIBRA PROLOGIS
FIBRA Prologis is a leading owner and operator of Class-A industrial real estate in Mexico. As of December 31, 2025, the company's portfolio comprised 518 Investment Properties, totaling 87.4 million square feet (8.1 million square meters). This includes 350 logistics and manufacturing facilities across 6 industrial core markets in Mexico, comprising 65.9 million square feet (6.1 million square meters) of Gross Leasing Area (GLA) and 168 buildings with 21.5 million square feet (1.9 million square meters) of non-strategic assets in other markets.
FORWARD-LOOKING STATEMENTS
The statements in this release that are not historical facts are forward-looking statements. These forward-looking statements are based on current expectations, estimates and projections about the industry and markets in which FIBRA Prologis operates, management's beliefs and assumptions made by management. Such statements involve uncertainties that could significantly impact FIBRA Prologis financial results. Words such as "expects," "anticipates," "intends," "plans," "believes," "seeks," "estimates," variations of such words and similar expressions are intended to identify such forward-looking statements, which generally are not historical in nature. All statements that address operating performance, events or developments that we expect or anticipate will occur in the future — including statements relating to rent and occupancy growth, acquisition activity, development activity, disposition activity, general conditions in the geographic areas where we operate, expected distributions, and our debt and financial position, are forward-looking statements. These statements are not guarantees of future performance and involve certain risks, uncertainties and assumptions that are difficult to predict. Although we believe the expectations reflected in any forward-looking statements are based on reasonable assumptions, we can give no assurance that our expectations will be attained and therefore, actual outcomes and results may differ materially from what is expressed or forecasted in such forward-looking statements. Some of the factors that may affect outcomes and results include, but are not limited to: (i) national, international, regional and local economic climates, (ii) changes in financial markets, interest rates and foreign currency exchange rates, (iii) increased or unanticipated competition for our properties, (iv) risks associated with acquisitions, dispositions and development of properties, (v) maintenance of real estate investment trust ("FIBRA") status and tax structuring, (vi) availability of financing and capital, the levels of debt that we maintain and our credit ratings, (vii) risks related to our investments (viii) environmental uncertainties, including risks of natural disasters, (ix) risks related to global pandemics, and (x) those additional factors discussed in reports filed with the "Comisión Nacional Bancaria y de Valores" and the Mexican Stock Exchange by FIBRA Prologis under the heading "Risk Factors." FIBRA Prologis undertakes no duty to update any forward-looking statements appearing in this release.
Non-Solicitation - Any securities discussed herein or in the accompanying presentations, if any, have not been registered under the Securities Act of 1933 or the securities laws of any state and may not be offered or sold in the United States absent registration or an applicable exemption from the registration requirements under the Securities Act and any applicable state securities laws. Any such announcement does not constitute an offer to sell or the solicitation of an offer to buy the securities discussed herein or in the presentations, if and as applicable.(PRNewsfoto/FIBRA Prologis)Cision
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- How The Story Is Shifting For FIBRA Prologis (BMV:FIBRAPL 14) As Models And Management Evolve
Mar 13, 2026
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FIBRA Prologis now carries a fair value estimate of about MX$83.21, a slight move from MX$82.66 that keeps the price target tightly clustered around prior levels. Analysts suggest this subtle shift reflects a balance of updated risks and supports in their models, rather than a major change in conviction. As you read on, you will see how this evolving narrative around fair value, assumptions and recent corporate news might shape how you track the story from here.
Analyst Price Targets don't always capture the full story. Head over to our Company Report to find new ways to value FIBRA Prologis.
What Wall Street Has Been Saying
🐂 Bullish Takeaways
Some readers may look at the small move in the fair value estimate, from about MX$82.66 to MX$83.21, as a sign that analyst models are broadly aligned on where FIBRA Prologis sits today, with only fine tuning around assumptions rather than wholesale changes. The tight clustering of price targets suggests that, even as views evolve, there is still a working consensus on how recent corporate news and sector conditions feed into the trust’s valuation framework.
🐻 Bearish Takeaways
Itau BBA, through analyst Pablo, recently downgraded FIBRA Prologis, flagging enough concern to justify a lower stance on the units, which can influence how some investors weigh risk versus reward at current levels. The downgrade signals that at least one covering firm sees less room for upside relative to perceived risks, and it may prompt investors to look more closely at execution, lease trends and balance sheet assumptions embedded in current targets.
Do your thoughts align with the Bull or Bear Analysts? Perhaps you think there's more to the story. Head to the Simply Wall St Community to discover more perspectives!BMV:FIBRAPL 14 1-Year Stock Price Chart
We've flagged 3 risks for FIBRA Prologis. See which could impact your investment.
How This Changes the Fair Value For FIBRA Prologis
The fair value estimate has moved from MX$82.66 to about MX$83.21, keeping the updated figure close to the prior level. Revenue growth assumptions in MX$ have shifted from 7.43% to about 5.69%. Net profit margin assumptions have adjusted from 65.88% to about 61.59%. The forward P/E multiple has changed from 20.7x to about 24.2x. The discount rate used in models has moved from 15.97% to about 17.06%.
Never Miss an Update: Follow The Narrative
Narratives connect FIBRA Prologis' business story to the assumptions behind forecasts and fair value, so you can see how headlines and model changes fit together. They refresh when new data, management moves, or risk factors come through.
Story Continues
Head over to the Simply Wall St Community and follow the Narrative on FIBRA Prologis to stay up to date on:
How e commerce demand, nearshoring and low vacancies in key cities like Mexico City and Guadalajara feed into rent growth and occupancy assumptions. The impact of Terrafina integration, cost efficiencies and government backed infrastructure efforts on FFO, margins and long term demand for industrial space. Key risks such as higher industrial supply, potential oversupply in border and Monterrey markets, FX swings, tariff uncertainty and the earnings effect of planned Terra GLA asset sales.
This article by Simply Wall St is general in nature. We provide commentary based on historical data and analyst forecasts only using an unbiased methodology and our articles are not intended to be financial advice. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. We aim to bring you long-term focused analysis driven by fundamental data. Note that our analysis may not factor in the latest price-sensitive company announcements or qualitative material. Simply Wall St has no position in any stocks mentioned.
Companies discussed in this article include FIBRAPL-14.
Have feedback on this article? Concerned about the content? Get in touch with us directly. Alternatively, email editorial-team@simplywallst.com
View Comments
- FIBRA Prologis Announces an Ordinary Certificate Holders Meeting
Mar 6, 2026
MEXICO CITY, March 6, 2026 /PRNewswire/ -- FIBRA Prologis (BMV: FIBRAPL 14), a leading owner and operator of Class-A industrial real estate in Mexico, today announced it will host an ordinary certificate holders meeting on March 17, 2026, at 11:00 a.m. CT.
The meeting agenda includes the following items:
I. Proposal, discussion and, if applicable, approval to: (i) carry out one or more public tender offers for acquisition and reciprocal subscription and/or for cash consideration and/or any combination thereof for up to 100% of the real estate trust certificates (certificados bursátiles fiduciarios inmobiliarios) issued by Fibra Macquarie (Ticker Symbol: "FIBRAMQ 12," "Fibra Macquarie"), in exchange for Certificates issued by the Trust and/or cash and/or a combination thereof (the "Tender Offer"), in order for the Trust to acquire up to 100% of the real estate trust certificates of Fibra Macquarie (such offers, the "Offers"), and for the Trust to privately acquire any additional real estate trust certificates of Fibra Macquarie owned by the manager of Fibra Macquarie or any of its affiliates, whether within or outside the Offers, for the same consideration used in the Offers; (ii) delegate to the Manager the authority to determine the terms and conditions of each of such Offers, including, without limitation, the applicable exchange factor and/or acquisition cash price per certificate; (iii) authorize the Manager to carry out all acts necessary or advisable to implement and consummate the Offers, including, without limitation, the preparation, negotiation and execution of any and all agreements, instruments, certificates and other documents necessary or advisable for the implementation and consummation of the Offers, as well as the preparation, filing and processing of any and all applications, authorizations, notices and permits that may be required in connection with the Offers before any governmental authority or autonomous body, including, without limitation, the CNBV, the BMV, the National Antitrust Commission (Comisión Nacional Antimonopolio), S.D. Indeval Institución para el Depósito de Valores, S.A. de C.V., and any other authorities, entities or securities market participants whose involvement may be necessary; and (iv) delegate to the Manager the authority, in the name and on behalf of the Trust, to exercise or instruct the vote corresponding to the real estate trust certificates of Fibra Macquarie acquired by the Trust as a result of the Offer(s), including, without limitation, to approve the assignment of the rights and obligations arising under the management agreement entered into between Fibra Macquarie and Macquarie Asset Management México, S.A. de C.V. in favor of the Manager, to approve the substitution of the manager of Fibra Macquarie with the Manager, and to approve the cancellation of the registration of the real estate trust certificates issued by Fibra Macquarie in the RNV and the delisting of such securities from the BMV. Actions and resolutions in connection therewith. II. Proposal, discussion and, if applicable, approval to: (i) use the Certificates currently registered in the RNV under the shelf registration program (programa de emisor recurrente) authorized by the National Banking and Securities Commission (Comisión Nacional Bancaria y de Valores) pursuant to official letter No. 153/1866/2025, dated November 18, 2025 (the "Program"), in order to carry out one or more Additional Issuances of Certificates, in accordance with Clause 3.2 of the Trust Agreement, to be used in connection with the Offers; and (ii) delegate to the Manager the authority to determine the terms and conditions of such Additional Issuances for such purposes. Actions and resolutions in connection therewith. III. Appointment of the delegate or delegates to comply with the resolutions adopted in the Holders' Meeting. Actions and resolutions in connection therewith.
Holders who intend to attend the Holders' Meeting shall deliver, no later than the Business Day immediately preceding the date of the Holders Meeting: (i) the deposit certificate issued by S.D. Indeval Institución para el Depósito de Valores, S.A. de C.V.; (ii) the list of holders issued for such purpose by the corresponding financial intermediary, if applicable; and (iii) if applicable, a proxy letter signed before two witnesses in order to be represented at the Holders' Meeting or, as the case may be, a sufficient general or special power of attorney granted in accordance with applicable law, at the offices of the Common Representative located at Av. Paseo de la Reforma No. 284, 9th Floor, Col. Juárez, Cuauhtémoc, C.P. 06600, Mexico City, Mexico, to the attention of Esteban Manuel Serrano Hernández and/or Giovana Cruz García and/or Alicia Guadalupe González González, during business hours from 10:00 a.m. to 3:00 p.m. and from 4:30 p.m. to 5:30 p.m., Monday through Friday, as of the date of publication of this notice. Likewise, Holders are invited to contact the Common Representative, either via email (emserranoh@monex.com.mx) or by telephone (+52 (55) 5230-0296), should they have any questions regarding the scope of the matters included in the agenda of the Holders' Meeting.
Story Continues
For more information, please visit the Investor Relations section of the FIBRA Prologis website at www.fibraprologis.com.
ABOUT FIBRA PROLOGIS
FIBRA Prologis is a leading owner and operator of Class-A industrial real estate in Mexico. As of December 31, 2025, the company's portfolio comprised 518 Investment Properties, totaling 87.4 million square feet (8.1 million square meters). This includes 350 logistics and manufacturing facilities across 6 industrial core markets in Mexico, comprising 65.9 million square feet (6.1 million square meters) of Gross Leasing Area (GLA) and 168 buildings with 21.5 million square feet (1.9 million square meters) of non-strategic assets in other markets.
FORWARD-LOOKING STATEMENTS
The statements in this release that are not historical facts are forward-looking statements. These forward-looking statements are based on current expectations, estimates and projections about the industry and markets in which FIBRA Prologis operates, management's beliefs and assumptions made by management. Such statements involve uncertainties that could significantly impact FIBRA Prologis financial results. Words such as "expects," "anticipates," "intends," "plans," "believes," "seeks," "estimates," variations of such words and similar expressions are intended to identify such forward-looking statements, which generally are not historical in nature. All statements that address operating performance, events or developments that we expect or anticipate will occur in the future — including statements relating to rent and occupancy growth, acquisition activity, development activity, disposition activity, general conditions in the geographic areas where we operate, expected distributions, and our debt and financial position, are forward-looking statements. These statements are not guarantees of future performance and involve certain risks, uncertainties and assumptions that are difficult to predict. Although we believe the expectations reflected in any forward-looking statements are based on reasonable assumptions, we can give no assurance that our expectations will be attained and therefore, actual outcomes and results may differ materially from what is expressed or forecasted in such forward-looking statements. Some of the factors that may affect outcomes and results include, but are not limited to: (i) national, international, regional and local economic climates, (ii) changes in financial markets, interest rates and foreign currency exchange rates, (iii) increased or unanticipated competition for our properties, (iv) risks associated with acquisitions, dispositions and development of properties, (v) maintenance of real estate investment trust ("FIBRA") status and tax structuring, (vi) availability of financing and capital, the levels of debt that we maintain and our credit ratings, (vii) risks related to our investments (viii) environmental uncertainties, including risks of natural disasters, (ix) risks related to global pandemics, and (x) those additional factors discussed in reports filed with the "Comisión Nacional Bancaria y de Valores" and the Mexican Stock Exchange by FIBRA Prologis under the heading "Risk Factors." FIBRA Prologis undertakes no duty to update any forward-looking statements appearing in this release.
Non-Solicitation - Any securities discussed herein or in the accompanying presentations, if any, have not been registered under the Securities Act of 1933 or the securities laws of any state and may not be offered or sold in the United States absent registration or an applicable exemption from the registration requirements under the Securities Act and any applicable state securities laws. Any such announcement does not constitute an offer to sell or the solicitation of an offer to buy the securities discussed herein or in the presentations, if and as applicable.(PRNewsfoto/FIBRA Prologis)Cision
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- How The FIBRA Prologis (BMV:FIBRAPL 14) Investment Story Is Shifting With New Analyst Assumptions
Feb 27, 2026
Find your next quality investment with Simply Wall St's easy and powerful screener, trusted by over 7 million individual investors worldwide.
The latest update on FIBRA Prologis trims the modeled fair value only slightly, with the MX$ price target moving from MX$83.08 to MX$82.66. Bullish voices frame this as a fine tuning tied to refreshed assumptions, while more cautious analysts see the adjustment as a reminder that expectations and risks are still being repriced. As you read on, you will see how this small change fits into the broader analyst narrative and what to watch as views on FIBRA Prologis evolve.
Analyst Price Targets don't always capture the full story. Head over to our Company Report to find new ways to value FIBRA Prologis.
What Wall Street Has Been Saying
🐂 Bullish Takeaways
Supportive analysts tend to frame the recent MX$82.66 valuation tweak as a minor recalibration of inputs rather than a shift in the long term thesis, which can matter if you are focused on gradual value creation instead of quick trading moves. On the constructive side, the updated price modeling highlights that FIBRA Prologis still attracts formal coverage, suggesting institutional investors continue to follow the story and compare it with other industrial real estate names in Mexico.
🐻 Bearish Takeaways
Itau BBA, through analyst Pablo, recently downgraded FIBRA Prologis. This signals that at least one major research house sees a less favorable balance between current pricing, execution risks, and future growth potential. The downgrade from Itau BBA, paired with the small reduction in the MX$ price target, underlines that some on the Street are questioning how much upside is left at recent levels and are paying closer attention to how assumptions on rents, occupancy, and funding costs are set.
Do your thoughts align with the Bull or Bear Analysts? Perhaps you think there's more to the story. Head to the Simply Wall St Community to discover more perspectives!BMV:FIBRAPL 14 1-Year Stock Price Chart
We've flagged 3 risks for FIBRA Prologis. See which could impact your investment.
What's in the News
FIBRA Prologis declared a cash distribution of MXN 1,262.1 million, or MXN 0.7566 per CBFI, payable on February 25, 2026, with an ex dividend and record date of February 24, 2026. The FIBRA announced a 1.016668145% stock split or significant stock dividend scheduled for February 13, 2026. This may change the number of CBFIs you hold while keeping your economic stake similar. FIBRA Prologis set a quarterly dividend of MXN 0.6462 per CBFI, payable on February 16, 2026, with ex dividend and record dates on February 13, 2026. The company plans a leadership transition on July 1, 2026. Current CFO Jorge Girault will become CEO after Héctor Ibarzábal retires, and Investor Relations lead Alexandra Violante will move into the CFO role.
Story Continues
How This Changes the Fair Value For FIBRA Prologis
Fair value is modeled at MX$82.66 vs. MX$83.08 previously. Revenue growth assumption is 7.43% compared with 2.84% previously. Profit margin assumption is 65.88% compared with 58.46% previously. Future P/E multiple is 20.71x compared with 24.71x previously. Discount rate used is 15.97% compared with 16.98% previously.
Never Miss an Update: Follow The Narrative
Narratives link a company's real world story to a financial forecast and fair value, updating as new data, deals, or risks come through. They give you a single place to see how all the moving parts fit together.
Head over to the Simply Wall St Community and follow the Narrative on FIBRA Prologis to stay up to date on:
How e commerce, nearshoring and low vacancies in key Mexican logistics hubs relate to rent growth and earnings potential for FIBRA Prologis. The role of record rental spreads, mark to market potential, the Terrafina integration and government backed infrastructure projects in shaping future cash flows. Key risks around tariffs on Mexican exports, rising industrial supply and vacancies, asset sales, FX swings and refinancing that could affect occupancy, rents and distributions.
This article by Simply Wall St is general in nature. We provide commentary based on historical data and analyst forecasts only using an unbiased methodology and our articles are not intended to be financial advice. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. We aim to bring you long-term focused analysis driven by fundamental data. Note that our analysis may not factor in the latest price-sensitive company announcements or qualitative material. Simply Wall St has no position in any stocks mentioned.
Companies discussed in this article include FIBRAPL-14.
Have feedback on this article? Concerned about the content? Get in touch with us directly. Alternatively, email editorial-team@simplywallst.com
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- FIBRA Prologis Announces Fourth Quarter and Full Year 2025 Earnings Results
Feb 23, 2026
MEXICO CITY, Feb. 23, 2026 /PRNewswire/ -- FIBRA Prologis (BMV:FIBRAPL 14), a leading owner and operator of Class-A industrial real estate in Mexico, today reported results for the fourth quarter and full year 2025.(PRNewsfoto/FIBRA Prologis)
HIGHLIGHTS FROM THE YEAR:
Increased FIBRA Terrafina ownership to 99.8%. Net effective rents on rollover were 59.1 percent. Period-end and average occupancy were 97.0 and 97.8 percent, respectively. Customer retention was 82.6 percent. Same store cash NOI was 6.4 percent. Acquired US$67million of Class-A properties. First international bond issuance for $500 million. Installed 21 MW of solar capacity.
Net earnings per CBFI was Ps. 2.0887 (US$0.1123) for the quarter compared with Ps. 3.8692 (US$0.1816) for the same period in 2024. For the full year 2025, net earnings per CBFI was Ps. 6.9148 (US$0.3565) compared with Ps. 17.1978 (US$0.9136) for the same period in 2024.
Funds from operations (FFO), as modified by FIBRA Prologis per CBFI, was Ps. 1.0533 (US$0.0583) for the quarter compared with Ps. 0.9740 (US$0.0488) for the same period in 2024. For the full year 2025, FFO per CBFI was Ps.4.4854 (US$0.2339) compared with Ps. 3.4507 (US$0.1943) for the same period in 2024.
SOLID OPERATING RESULTS
"Despite global uncertainties, 2025 was another exceptional year for FIBRA Prologis, reflecting strong execution, disciplined growth and the resilience of a well thought strategy," said Héctor Ibarzábal, CEO of FIBRA Prologis. "We delivered high occupancy and strong rent growth, fully integrated Terrafina, strengthened our balance sheet and advanced our sustainability leadership. As we transition leadership, I am confident in our strategy, fundamentals and our ability to continue delivering long-term value for our shareholders".
Operating Portfolio 2025 2024 4Q25 4Q24 4Q25 Notes Period End Occupancy 97.0 % 98.3 % 97.0 % 98.3 % Five markets above 96%. Average Occupancy 97.8 % 98.1 % 96.9 % 98.1 % Above 96.5% since 2Q21. Leases Commenced 11.4 MSF 4.3 MSF 2.2 MSF 1.0 MSF The activity was concentrated
mainly in Mexico City, Juarez
and Guadalajara. Customer Retention 82.6 % 71.6 % 71.1 % 84.5 % Net Effective Rent
Change 59.1 % 55.4 % 64.8 % 61.0 % Led by Mexico City,
Monterrey, and Reynosa. Same Store Cash NOI 6.4 % 8.4 % 9.4 % 3.8 % Led mainly by rent change and
annual rent increases. Same Store Net Effective
NOI 9.5 % 7.1 % 13.7 % 3.2 % Led by rent change and
annual rent increases.
As a reminder, FIBRA Terrafina was managed by a third party through November 30, 2024. As such, some metrics only include FIBRA Terrafina activity after December 1, 2024.
Story Continues
STRONG FINANCIAL POSITION
As of December 31, 2025, FIBRA Prologis' leverage stand alone was 23.0 percent and liquidity was approximately Ps. 18.7 billion (US$1.0 billion), which included Ps. 18.0 billion (US$1.0 billion) of available capacity on its unsecured credit facility and Ps. 749 million (US$42 million) of unrestricted cash.
GUIDANCE ESTABLISHED FOR 2026
(US$ in million, except per CBFI amounts)
FX = Ps$18.5 per US$1.00 Low High Notes FFO per CBFI US$0.2400 US$0.2600 Excludes the impact of foreign
exchange movements and any
potential incentive fee. Full Year 2026 Distributions per CBFI US$0.1700 US$0.1700 An 13.3% increase vs 2025
guidance. Year End Occupancy 96.5 % 98.5 % Same Store Cash NOI 9.0 % 13.0 % Based in U.S. dollars. Annual Capital Expenditures as % of NOI 10.0 % 12.0 % Asset Management and Professional Fees US$65 US$70 Building Acquisitions US$200 US$500 Building Dispositions US$0 US$0
WEBCAST & CONFERENCE CALL INFORMATION
FIBRA Prologis will host a live webcast/conference call to discuss quarterly results, current market conditions and future outlook. Here are the event details:
Tuesday, February 24, 2025, at 9 a.m. Mexico Time. Access the live webcast at www.fibraprologis.com, in the Investor Relations section, by clicking Events. Dial in: +1 888 596 4144 or +1 646 968 2525 and enter Passcode 4603995.
A telephonic replay will be available February 24 - March 3 at +1 800 770 2030 from the U. S. and Canada or at +1 647 362 9199 from all other countries using conference code 4603995. The replay will be posted in the Investor Relations section of the FIBRA Prologis website.
ABOUT FIBRA PROLOGIS
FIBRA Prologis is a leading owner and operator of Class-A industrial real estate in Mexico. As of December 31, 2025, the company's portfolio comprised 518 Investment Properties, totaling 87.4 million square feet (8.1 million square meters). This includes 350 logistics and manufacturing facilities across 6 industrial core markets in Mexico, comprising 65.9 million square feet (6.1 million square meters) of Gross Leasing Area (GLA) and 168 buildings with 21.5 million square feet (1.9 million square meters) of non-strategic assets in other markets.
FORWARD-LOOKING STATEMENTS
The statements in this release that are not historical facts are forward-looking statements. These forward-looking statements are based on current expectations, estimates and projections about the industry and markets in which FIBRA Prologis operates, management's beliefs and assumptions made by management. Such statements involve uncertainties that could significantly impact FIBRA Prologis financial results. Words such as "expects," "anticipates," "intends," "plans," "believes," "seeks," "estimates," variations of such words and similar expressions are intended to identify such forward-looking statements, which generally are not historical in nature. All statements that address operating performance, events or developments that we expect or anticipate will occur in the future — including statements relating to rent and occupancy growth, acquisition activity, development activity, disposition activity, general conditions in the geographic areas where we operate, expected distributions, and our debt and financial position, are forward-looking statements. These statements are not guarantees of future performance and involve certain risks, uncertainties and assumptions that are difficult to predict. Although we believe the expectations reflected in any forward-looking statements are based on reasonable assumptions, we can give no assurance that our expectations will be attained and therefore, actual outcomes and results may differ materially from what is expressed or forecasted in such forward-looking statements. Some of the factors that may affect outcomes and results include, but are not limited to: (i) national, international, regional and local economic climates, (ii) changes in financial markets, interest rates and foreign currency exchange rates, (iii) increased or unanticipated competition for our properties, (iv) risks associated with acquisitions, dispositions and development of properties, (v) maintenance of real estate investment trust ("FIBRA") status and tax structuring, (vi) availability of financing and capital, the levels of debt that we maintain and our credit ratings, (vii) risks related to our investments (viii) environmental uncertainties, including risks of natural disasters, (ix) risks related to global pandemics, and (x) those additional factors discussed in reports filed with the "Comisión Nacional Bancaria y de Valores" and the Mexican Stock Exchange by FIBRA Prologis under the heading "Risk Factors." FIBRA Prologis undertakes no duty to update any forward-looking statements appearing in this release.
Non-Solicitation - Any securities discussed herein or in the accompanying presentations, if any, have not been registered under the Securities Act of 1933 or the securities laws of any state and may not be offered or sold in the United States absent registration or an applicable exemption from the registration requirements under the Securities Act and any applicable state securities laws. Any such announcement does not constitute an offer to sell or the solicitation of an offer to buy the securities discussed herein or in the presentations, if and as applicable.Cision
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- FIBRA PROLOGIS ANNOUNCES SENIOR LEADERSHIP TRANSITION
Jan 5, 2026
Ibarzábal to Retire; Girault appointed CEO and Violante appointed CFO
MEXICO CITY, Jan. 5, 2026 /PRNewswire/ -- FIBRA Prologis (BMV: FIBRAPL14), a leading owner and operator of Class-A industrial real estate in Mexico, today announced that Héctor Ibarzábal, chief executive officer (CEO) of FIBRA Prologis, will retire effective June 30, 2026, after more than three decades with the company.
As part of the planned succession, effective July 1, Jorge Girault, currently Chief Financial Officer (CFO) of FIBRA Prologis, will assume the role of CEO, reporting to Armando Fregoso, president of Latin America. As CEO, Girault will focus on serving the Mexican market to deliver long-term value for investors, employees and communities.
Also, effective July 1, Alexandra Violante, who currently leads Investor Relations, will become CFO. Violante brings extensive experience in capital markets, investor engagement and financial communications.
"We are deeply grateful to Héctor for his outstanding leadership and the lasting impact he has made on our business," said Armando Fregoso. "His vision and commitment have been instrumental in establishing FIBRA Prologis as the leading logistics real estate platform in Mexico."
"We are excited to welcome Jorge and Alexandra to their new roles," Fregoso continued. "Jorge is a strategic leader with a strong grasp of Mexico's logistics industry and of our customers' needs. His depth of experience in capital markets, investor relationships and financial strategy uniquely positions him to lead FIBRA Prologis into its next chapter as a premier investment platform."
He added that Alexandra's experience has been "critical in supporting long-term growth and value," saying she has played a central role in shaping the company's financial strategy.
Leadership transition strengthens FIBRA Prologis' path ahead
Girault has more than 30 years of experience in the real estate and financial sectors positioning Prologis as the leading publicly traded real estate vehicle in Mexico. This includes FIBRA Prologis' acquisition of Terrafina, which positioned the company as Latin America's largest industrial real estate company.
Violante has strengthened FIBRA Prologis' relationships with investors and the broader financial community, supporting the company's commitment to transparency and disciplined financial management.
Ibarzábal leaves behind a legacy of operational excellence and a strong team dedicated to serving customers, investors and communities across Mexico.
Story Continues
"Hector is an indisputable leader in the sector, and his legacy will continue to help on growing and improving our business," said Girault.
ABOUT FIBRA PROLOGIS
FIBRA Prologis is a leading owner and operator of Class-A industrial real estate in Mexico. As of September 30, 2025, FIBRA Prologis was comprised of 515 investment properties, totaling 87.0 million square feet (8.1 million square meters). This includes 348 logistics and manufacturing facilities in six industrial core markets in Mexico totaling 65.7 million square feet (6.1 million square meters) of gross leasable area.
FORWARD-LOOKING STATEMENTS
The statements in this release that are not historical facts are forward-looking statements. These forward-looking statements are based on current expectations, estimates and projections about the industry and markets in which FIBRA Prologis operates, management's beliefs and assumptions made by management. Such statements involve uncertainties that could significantly impact FIBRA Prologis financial results. Words such as "expects," "anticipates," "intends," "plans," "believes," "seeks," "estimates," variations of such words and similar expressions are intended to identify such forward-looking statements, which generally are not historical in nature. All statements that address operating performance, events or developments that we expect or anticipate will occur in the future — including statements relating to rent and occupancy growth, acquisition activity, development activity, disposition activity, general conditions in the geographic areas where we operate, our debt and financial position, are forward-looking statements. These statements are not guarantees of future performance and involve certain risks, uncertainties and assumptions that are difficult to predict. Although we believe the expectations reflected in any forward-looking statements are based on reasonable assumptions, we can give no assurance that our expectations will be attained and therefore, actual outcomes and results may differ materially from what is expressed or forecasted in such forward-looking statements. Some of the factors that may affect outcomes and results include, but are not limited to: (i) national, international, regional and local economic climates, (ii) changes in financial markets, interest rates and foreign currency exchange rates, (iii) increased or unanticipated competition for our properties, (iv) risks associated with acquisitions, dispositions and development of properties, (v) maintenance of real estate investment trust ("FIBRA") status and tax structuring, (vi) availability of financing and capital, the levels of debt that we maintain and our credit ratings, (vii) risks related to our investments (viii) environmental uncertainties, including risks of natural disasters, (ix) risks related to the coronavirus pandemic, and (x) those additional factors discussed in reports filed with the "Comisión Nacional Bancaria y de Valores" and the Mexican Stock Exchange by FIBRA Prologis under the heading "Risk Factors." FIBRA Prologis undertakes no duty to update any forward-looking statements appearing in this release.
Non-Solicitation - Any securities discussed herein or in the accompanying presentations, if any, have not been registered under the Securities Act of 1933 or the securities laws of any state and may not be offered or sold in the United States absent registration or an applicable exemption from the registration requirements under the Securities Act and any applicable state securities laws. Any such announcement does not constitute an offer to sell or the solicitation of an offer to buy the securities discussed herein or in the presentations, if and as applicable.(PRNewsfoto/FIBRA Prologis)Cision
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- FIBRA Prologis Announces Disposition of 440,000 Square Feet
Dec 16, 2025
MEXICO CITY, Dec. 16, 2025 /PRNewswire/ -- FIBRA Prologis (BMV: FIBRAPL14), a leading owner and operator of Class-A industrial real estate in Mexico, announced the sale of 440,000 square feet in Juarez to an existing customer for US$19.8 million. These properties were previously part of the Terrafina portfolio and were subject to contractual purchase obligations under the lease.
"We are pleased to advance our disposition program with this sale and will continue our disciplined approach to portfolio optimization. We look forward to building on this momentum," said Héctor Ibarzabal, CEO of FIBRA Prologis.
ABOUT FIBRA PROLOGIS
FIBRA Prologis is a leading owner and operator of Class-A industrial real estate in Mexico. As of September 30, 2025, FIBRA Prologis was comprised of 515 investment properties, totaling 87.0 million square feet (8.1 million square meters). This includes 348 logistics and manufacturing facilities in six industrial core markets in Mexico totaling 65.7 million square feet (6.1 million square meters) of gross leasable area.
FORWARD-LOOKING STATEMENTS
The statements in this release that are not historical facts are forward-looking statements. These forward-looking statements are based on current expectations, estimates and projections about the industry and markets in which FIBRA Prologis operates, management's beliefs and assumptions made by management. Such statements involve uncertainties that could significantly impact FIBRA Prologis financial results. Words such as "expects," "anticipates," "intends," "plans," "believes," "seeks," "estimates," variations of such words and similar expressions are intended to identify such forward-looking statements, which generally are not historical in nature. All statements that address operating performance, events or developments that we expect or anticipate will occur in the future — including statements relating to rent and occupancy growth, acquisition activity, development activity, disposition activity, general conditions in the geographic areas where we operate, our debt and financial position, are forward-looking statements. These statements are not guarantees of future performance and involve certain risks, uncertainties and assumptions that are difficult to predict. Although we believe the expectations reflected in any forward-looking statements are based on reasonable assumptions, we can give no assurance that our expectations will be attained and therefore, actual outcomes and results may differ materially from what is expressed or forecasted in such forward-looking statements. Some of the factors that may affect outcomes and results include, but are not limited to: (i) national, international, regional and local economic climates, (ii) changes in financial markets, interest rates and foreign currency exchange rates, (iii) increased or unanticipated competition for our properties, (iv) risks associated with acquisitions, dispositions and development of properties, (v) maintenance of real estate investment trust ("FIBRA") status and tax structuring, (vi) availability of financing and capital, the levels of debt that we maintain and our credit ratings, (vii) risks related to our investments (viii) environmental uncertainties, including risks of natural disasters, (ix) risks related to the coronavirus pandemic, and (x) those additional factors discussed in reports filed with the "Comisión Nacional Bancaria y de Valores" and the Mexican Stock Exchange by FIBRA Prologis under the heading "Risk Factors." FIBRA Prologis undertakes no duty to update any forward-looking statements appearing in this release.
Story Continues
Non-Solicitation - Any securities discussed herein or in the accompanying presentations, if any, have not been registered under the Securities Act of 1933 or the securities laws of any state and may not be offered or sold in the United States absent registration or an applicable exemption from the registration requirements under the Securities Act and any applicable state securities laws. Any such announcement does not constitute an offer to sell or the solicitation of an offer to buy the securities discussed herein or in the presentations, if and as applicable.(PRNewsfoto/FIBRA Prologis)Cision
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