FIBRA Sector Strength Amid Macro Headwinds

FIBRA assets exceed MX$1 trillion, and Fibra Mty conditionally agreed to acquire two fully occupied Santa Catarina industrial buildings for US$22 million, adding 21,300 m² of GLA and a 7,500 m² development reserve. Falling rates and local bond-market liquidity may support refinancing, but closing risk, rate sensitivity, sovereign warnings, potential CDMX and Tijuana oversupply, and limited context in recent Fibra Prologis dividend coverage remain watchpoints; global Prologis leasing results are directional, not Mexico-specific evidence.