Mexico. FibraShop, a real estate trust specialized in investment in shopping centers, announced that it will acquire the City Center Bosque Esmeralda located in Atizapán de Zaragoza, State of Mexico, for an amount of $405 million Mexican pesos, approximately US$26 million dollars.
According to information included in a public report sent to the Mexican Stock Exchange (BMV), the trust indicates that the acquisition will be made due to the good operating income presented by this shopping center, which reaches $40 million pesos (US$2.6 million).
In addition, Fibrashop will incorporate seven new movie theaters into the mall, which will generate a minimum additional income of 1.46 million pesos (US$95,000) in the next seven months, with a current purchase capitalization rate of 9.74%.
Similarly, the property has 3,700 m2 of area to rent, of the total of 29,588 m2, which will generate additional income. In total, FibraShop expects to get a capitalization rate of 10.91% in one year.
