FIBRA Macquarie México Leases First Phase of Its Apodaca Industrial Development Project

– FY22 completed and in progress growth capex projects in the industrial portfolio now totaling 1.8 million sqft

– Commences construction on second building in Apodaca development

MEXICO CITY–(BUSINESS WIRE)–FIBRA Macquarie México (FIBRAMQ) (BMV: FIBRAMQ) announced the execution of a 183 thousand square foot lease for the first phase of its recently completed industrial development in Apodaca, Nuevo Leon in the Monterrey region of Mexico. The building will be 100%-occupied by a United States-based manufacturer of electric vehicle components. The triple-net 10-year lease is U.S. dollar denominated and represents an NOI yield of 10.4%. The building has been built in accordance with the U.S. Green Building Council’s^® LEED^® v4.1 Building Design and Construction: Core and Shell Development specifications and is expected to achieve a minimum Gold level certification. The project has a total investment cost of US$12.7 million and is expected to begin contributing to FIBRA Macquarie’s NOI in 2Q23. The completion of this project demonstrates FIBRAMQ’s commitment to delivering best-in-class developments in core markets with attractive returns.

“The delivery and lease-up of this building at an attractive yield represents the successful execution of our industrial development strategy,” said Simon Hanna, FIBRA Macquarie’s chief executive officer. “We are excited to complete an additional lease with a manufacturer in the EV industry as we continue to diversify our tenant base. Solid fundamentals persist in the Monterrey region as strong tailwinds support ongoing demand, and we are confident that subsequent phases of this project will be well received by prospective customers. With incremental growth capex of 1.8 million square feet of GLA in core industrial markets either completed or in progress, we remain encouraged by our strategy to create value and deliver accretive returns for our certificate holders.”

Update on Growth Capex Program

As at the date of this release, FIBRA Macquarie’s growth capex program comprises 1.8 million sqft of GLA, which includes projects completed in FY22 along with projects under construction. This takes into account development projects of 1.4 million sqft of GLA, opportunistic acquisitions of 293 thousand sqft of GLA and build-to-suit (BTS) expansions of 115 thousand sqft of GLA.

Apodaca, Nuevo Leon

Following the successful delivery and lease-up of the first 183 thousand sqft industrial property building, FIBRAMQ has commenced construction on an additional Class A property comprising approximately 210 thousand sqft of GLA, with an expected completion during 2Q23.

In addition to these two buildings, this project has the potential for up to 407 thousand sqft of additional GLA.

Cuautitlán, Mexico City Metropolitan Area

In the strategic industrial submarket of Cuautitlán, FIBRAMQ is currently constructing 734 thousand sqft of new GLA across two buildings with substantial completion expected at the end of this year.

This follows the previously disclosed acquisition in July 2022 of a 100%-occupied property in the Cuautitlán submarket comprising 293 thousand sqft of GLA.

Ciudad Juárez, Chihuahua

FIBRAMQ has an ongoing development of a 230 thousand sqft GLA building in the southeast market of Ciudad Juárez with an expected completion date in 2Q23. FIBRAMQ’s long term development plan in Ciudad Juárez considers a phased, multi-year construction of a 10-property Class A industrial park with a total potential GLA of approximately 2.5 million sqft.

Hermosillo, Sonora

FIBRAMQ completed a BTS expansion comprising 46 thousand square foot of GLA in the third quarter of 2022. This expansion comprised a US$2.0 million investment for a going-in yield of 11.8%. The expansion lease is denominated in US dollars.

Querétaro, State of Querétaro

Finally, FIBRAMQ recently signed a BTS expansion project for a German-based manufacturing customer in Querétaro. The project comprises the expansion of an existing facility by 69 thousand square feet with a total investment by FIBRAMQ of US$4.3 million. The project is expected to deliver a NOI yield of 10.5%, with NOI contribution commencing in 1Q23.

Through the recently completed Monterrey building, as well its active development pipeline, FIBRAMQ estimates to deploy approximately US$118.0 million across projects completed in 2022 and currently under construction (MCMA US$43.0 million, Apodaca US$35.0 million, Ciudad Juarez US$32.0 million, Hermosillo/Queretaro US$8.0 million).

About FIBRA Macquarie

FIBRA Macquarie México (FIBRA Macquarie) (BMV:FIBRAMQ) is a real estate investment trust (fideicomiso de inversión en bienes raíces), or FIBRA, listed on the Mexican Stock Exchange (Bolsa Mexicana de Valores) targeting industrial, retail and office real estate opportunities in Mexico, with a primary focus on stabilized income-producing properties. FIBRA Macquarie’s portfolio consists of 236 industrial properties and 17 retail properties, located in 20 cities across 16 Mexican states as of June 30, 2022. Nine of the retail properties are held through a 50/50 joint venture. For additional information about FIBRA Macquarie, please visit www.fibramacquarie.com.

Cautionary Note Regarding Forward-looking Statements

This release may contain forward-looking statements. Forward-looking statements involve inherent risks and uncertainties. We caution you that a number of important factors could cause actual results to differ significantly from these forward-looking statements and we undertake no obligation to update any forward-looking statements.

Other than Macquarie Bank Limited ABN 46 008 583 542 (“Macquarie Bank”), any Macquarie Group entity noted in this document is not an authorized deposit-taking institution for the purposes of the Banking Act 1959 (Commonwealth of Australia). The obligations of these other Macquarie Group entities do not represent deposits or other liabilities of Macquarie Bank. Macquarie Bank does not guarantee or otherwise provide assurance in respect of the obligations of these other Macquarie Group entities. In addition, if this document relates to an investment, (a) the investor is subject to investment risk including possible delays in repayment and loss of income and principal invested and (b) none of Macquarie Bank or any other Macquarie Group entity guarantees any particular rate of return on or the performance of the investment, nor do they guarantee repayment of capital in respect of the investment.

THIS RELEASE IS NOT AN OFFER FOR SALE OF SECURITIES IN THE UNITED STATES, AND SECURITIES MAY NOT BE OFFERED OR SOLD IN THE UNITED STATES ABSENT REGISTRATION OR AN EXEMPTION FROM REGISTRATION UNDER THE U.S. SECURITIES ACT OF 1933, AS AMENDED.

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