Fibras trust BBVA Bancomer to manage their IPOsNovember 6, 2013
BBVA Bancomer has been selected as global coordinator in the IPO of Fibra Sendero, the fourth of these real estate investment instruments (Fideicomiso de Infraestructura y Bienes Raíces or "Fibras") to be entrusted to the bank for the issue of $357 million in its initial placement on the Mexican stock market (BMV).
This operation makes BBVA Corporate & Investment Banking a reference in this market as this is the second IPO of a Fibra in less than a month in which BBVA has acted as global coordinator, and the fourth since these issues first started in 2011.
The funds raised from the placement will allow Fibra Sendero to acquire land to build new shopping malls and add 39 new units of commercial space from the Edificadora Norte portfolio.
Fibra Sendero is a real estate investment trust created recently by the Acosta Verde Group, dedicated to the construction of shopping malls in Mexico.