Mexico real estate: A matter of trust

Mexico real estate: A matter of trust


By Ben Miller In late January, Mexico’s Fibra Uno real estate fund issued in the equity capital markets for the third time, raising $1.7 billion – a record for the young asset class. With more than $5 billion in demand, the fund became the first Mexican equity issuer in history to exercise a so-called hot issue – 20% overallotment at the issuer’s discretion – in addition to the more commonplace greenshoe, which is 15% at the underwriters’ choice. The return of the oldest Fibra, or Fideicomiso de Inversión en Bienes Raíces, followed the debuts of two funds in December. The Mexican investment arm of Australia’s Macquarie raised $1.17 billion in LatAm’s largest-ever real estate IPO, and ho

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