FIBRA Monterrey has completed the internalisation of FIBRA Macquarie México, Macquarie Asset Management said on 4 November 2026, after the Monterrey-based REIT acquired a total of 98.12% of FIBRA Macquarie's outstanding certificates through two tender offers. The step ends Macquarie's management of the vehicle, which it had run since its initial public offering in December 2012.
Deal terms and financing
FIBRA Monterrey's first tender and exchange offer closed at the end of May with acceptances from holders of more than 80% of FIBRA Macquarie's certificates, a tranche El Financiero valued at about US$1.7bn. A second offer launched on 30 September proposed 3.20 FIBRA MTY certificates for each FIBRA Macquarie certificate, with a cash alternative of MXN44. Under the internalisation agreement signed on 29 June 2026 with Macquarie Asset Management México and Macquarie Infrastructure and Real Assets Holdings, FIBRA MTY pays Macquarie an internalisation consideration of US$172.4m.
“Our goal has always been to create value for our certificate holders”
Regulatory approvals and timing
FIBRA Macquarie holders approved Macquarie's resignation as manager and the appointment of a FIBRA MTY administrator in August, effective at closing. Infosel reported that a delisting of FIBRA Macquarie from the Mexican stock exchange would follow once FIBRA MTY's participation exceeds 95%, which it expects in the first quarter of 2027.
Market context
FIBRA Monterrey won control of FIBRA Macquarie after a contest that also drew a rival offer from FIBRA Prologis. According to El Financiero, the combination lifts FIBRA MTY's consolidated total assets to about US$6.5bn. FIBRA Macquarie had US$3.8bn of assets across 263 properties at 30 September 2026.
