#Mexico #Mexico City #financial results #FIBRA Prologis #industrial real estate

FIBRA Prologis Reports Strong First Quarter 2026 Financial Results

FIBRA Prologis, a leading investment trust focused on Class-A industrial real estate in Mexico, has unveiled solid financial results for the first quarter of 2026. This announcement comes at a time when the industrial real estate market faces continual uncertainties, reflecting the company's strategic execution and market positioning.

Key Highlights from Q1 2026

• - Net Effective Rent on Renewals: At 59.6%, demonstrating resilience against market fluctuations.
• - Occupancy Rates: The end-of-period occupancy rate stood at 97.0%, while the average occupancy was slightly higher at 97.4%. This consistent performance showcases the strength of the company’s portfolio within critical industrial regions.
• - Customer Retention Rate: 81.2%, down from the previous year but indicative of effective customer relations strategies in place despite competitive pressures.
• - Cash NOI on Same Properties: Showcased a remarkable 9.9% growth, driven by rental increases and successful renewals.

In terms of net income per Real Estate Investment Trust Certificate (CBFI), FIBRA Prologis reported US$0.1067 for this quarter, an increase from US$0.0985 in Q1 2025. The Funds From Operations (FFO) per CBFI was noted at US$0.0601 compared to US$0.0609 during the same quarter last year.

Operational Insights

"In a more balanced operational environment, and amid ongoing commercial uncertainties, FIBRA Prologis continues to demonstrate the strength of its portfolio, underpinned by disciplined execution and robust market positioning across Mexico's top industrial regions," stated Héctor Ibarzabal, CEO of FIBRA Prologis. This affirmation underscores the firm’s strategy of delivering long-term value to stakeholders.

Portfolio Metrics

FIBRA Prologis's operational portfolio is highlighted by impressive metrics:

• - Final Occupancy Rate: 97.0%, with key markets performing strongly.
• - Average Occupancy Rate: Consistently above 97% since the second quarter of 2021.
• - Leasing Activity: Closed 3.6 million square feet of leases, with primary activity centered around Mexico City and Juarez.
• - Changes in Net Effective Rent: Adjusted to 59.6%, predominantly due to market activities in Mexico City and Tijuana.
• - NOI Growth: Cash NOI on Same Properties increased significantly by 9.9% compared to just 2.0% in the previous year, bolstered by renewal strategies and annual rental increments.

Financial Position

As of March 31, 2026, FIBRA Prologis's leverage level was reported at 25.0%. The company holds a strong liquidity position with US$1,066 million in available funds, including US$990 million in an unsecured credit line, ensuring it can navigate market fluctuations effectively.

Upcoming Conference Call

FIBRA Prologis is scheduled to host a telephone/webcast conference on April 30, 2026, at 9 a.m. Mexico time, aimed at detailing quarterly results, current market conditions, and future outlooks. Investors and stakeholders can access the discussion via the company’s investor relations website or through a dedicated phone line.

About FIBRA Prologis

FIBRA Prologis is dedicated to the investment and management of Class-A industrial real estate across Mexico. As of March 31, 2026, the company's investment portfolio included 516 properties spanning a total of 86.9 million square feet of Gross Leasable Area (GLA). This includes strategically located logistics and manufacturing facilities across six key industrial markets in Mexico.

In conclusion, FIBRA Prologis's strong performance in Q1 2026 highlights its strategic management and operational efficiency, reinforcing its position as a leader in the Mexican industrial real estate market amid evolving economic challenges.