MEXICO CITY - Macquarie Mexican REIT (MMREIT) (BMV: FIBRAMQ) today announced the launch of its internal property administration platform, MMREIT Property Administration (MPA). The new platform, which was rolled out in January, is a full-service platform responsible for providing industrial property administration, leasing and accounting services. MPA is headquartered in Monterrey.
High-quality customer service is crucial to success in the real estate business and MPA has been designed with that in mind. MPA will provide our industrial customers with a central point of contact for all their property related needs.
“We are pleased to announce the on-schedule roll out of MPA and property administration services for our industrial properties,”said Jaime Lara, Chief Executive Officer of Macquarie Mexican REIT. “High-quality customer service is crucial to success in the real estate business and MPA has been designed with that in mind. MPA will provide our industrial customers with a central point of contact for all their property related needs.”
MPA has been staffed with a carefully selected team of property administration professionals each with a proven track record of delivering results. The MPA staff has been tasked with working more closely with MMREIT customers to ensure their property related needs are met quickly and efficiently.
MMREIT expects to derive economies of scale as the percentage of its portfolio administered by MPA increases and as the size of the portfolio grows. MMREIT’s strategy includes growth through acquisition as demonstrated by the transactions closed on over the last six months.
MMREIT transitioned the administration of its industrial portfolio to MPA earlier than envisioned when the FIBRA was listed in December of 2012. “We had contemplated using third party administrators for up to two years,”said Lara. “However, we recognized the importance of moving to an internal platform early on, and advanced the development of MPA accordingly.”
MMREIT brought forward the expiry date of its transitional property administration agreement with GE Capital Real Estate Mexico to December 31, 2013, a year earlier than provided under the original agreement. MMREIT’s property administration agreement with Corporate Properties of the Americas also expired in December 2013 as originally scheduled.
Industrial customers can visit www.mpagroup.mx for further information about the new platform.
About Macquarie Mexican REIT
Macquarie Mexican REIT (MMREIT) (BMV: FIBRAMQ) is a real estate investment trust (fideicomiso de inversíon en bienes raices), or FIBRA, listed on the Mexican Stock Exchange (Bolsa Mexicana de Valores) targeting industrial, retail and office real estate opportunities in Mexico, with a primary focus on stabilized income-producing properties. MMREIT’s portfolio consists of 244 industrial properties located in 21 cities across 15 Mexican states (as of June 30, 2013). For additional information about MMREIT, please visit www.macquarie.com/mmreit
About Macquarie Group
Macquarie Group (Macquarie) is a global provider of banking, financial, advisory, investment and funds management services. Macquarie’s main business focus is making returns by providing a diversified range of services to clients. Macquarie acts on behalf of institutional, corporate and retail clients and counterparties around the world. Founded in 1969, Macquarie operates in more than 70 office locations in 28 countries. Macquarie employs approximately 13,660 people and has assets under management of over US$362 billion (as of March 31, 2013).
Macquarie Infrastructure and Real Assets, a division of Macquarie, is a leading global alternative asset manager specializing in investments across infrastructure, real estate, agriculture and energy. Macquarie Infrastructure and Real Assets manages 49 funds with US$101 billion of assets under management across 25 countries (as of March 31, 2013).
Cautionary Note Regarding Forward-Looking Statements: This release may contain forward-looking statements. Forward-looking statements involve inherent risks and uncertainties. We caution you that a number of important factors could cause actual results to differ significantly from these forward-looking statements.
THIS RELEASE IS NOT AN OFFER FOR SALE OF SECURITIES IN THE UNITED STATES, AND SECURITIES MAY NOT BE OFFERED OR SOLD IN THE UNITED STATES ABSENT REGISTRATION OR AN EXEMPTION FROM REGISTRATION UNDER THE U.S. SECURITIES ACT OF 1933, AS AMENDED.
Investor Relations Contact:
Investor Relations, Macquarie Mexican REIT
Tel: +1 212 231 1825
For international press queries, please contact:
Corporate Communications, Macquarie Group
Tel: +1 212 231 1239
For press queries in Mexico, please contact:
CarralSierra PR & Strategic Communications
Jose Manuel Sierra
Cel: +52 55 5105 5907
Tel: +52 55 5286 0793
Cel: +52 55 3355 4968
Tel: +52 55 5286 0793
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