Covering the Mexican Economy, Actinver Research

Actinver

Covering the Mexican Economy

Actinver Research

Actinver is a mexican leading financial group, that generates well being for individuals and companies through advisory services that provides investment management to maintain and grow their wealth.

Thematic (Sector/Industry)

<ul>
<li>Industrial real estate companies once again delivered solid operational results in 3Q25, a trend we expect to continue—consistent with the outlook presented in our prior 3Q25 review (link to report).</li>
<li>Despite ongoing uncertainty surrounding trade relations and potential tariff scenarios, nationwide vacancy remains low at 5%, according to CBRE, and several markets are beginning to show early signs of stabilization as new construction gradually normalizes.</li>
<li>Within this context, Mexico City continues to stand out as the most resilient market.</li>
</ul>


Industrial real estate companies once again delivered solid operational results in 3Q25, a trend we expect to continue—consistent with the outlook presented in our prior 3Q25 review (link to report).
Despite ongoing uncertainty surrounding trade relations and potential tariff scenarios, nationwide vacancy remains low at 5%, according to CBRE, and several markets are beginning to show early signs of stabilization as new construction gradually normalizes.
Within this context, Mexico City continues to stand out as the most resilient market.


Macroeconomics

<ul>
<li>We continue to observe mixed performance across our Real Estate coverage.</li>
<li>Industrial Real Estate companies once again delivered solid operational results —a trend we expect to persist— supported by ongoing development activity, and stable, inflation-linked revenues from their stabilized portfolios.</li>
<li>Despite continued uncertainty surrounding trade relations and tariffs, renewal rate growth remains robust across our covered names, while vacancy rates remain below 6%, underscoring the sector’s resilience.</li>
</ul>


We continue to observe mixed performance across our Real Estate coverage.
Industrial Real Estate companies once again delivered solid operational results —a trend we expect to persist— supported by ongoing development activity, and stable, inflation-linked revenues from their stabilized portfolios.
Despite continued uncertainty surrounding trade relations and tariffs, renewal rate growth remains robust across our covered names, while vacancy rates remain below 6%, underscoring the sector’s resilience.


Actinver Research - Real Estate Post 3Q25 Update

<ul>
<li>A year of lackluster growth plans in the Industrial Real Estate sector doesn’t mean that opportunities aren’t there.</li>
<li>While our outlook in the overall Real Estate industry is neutral, we are mostly positive on Industrial Real Estate, given its long-term horizon, tenant stickiness, and diversification between internal (i.e., in logistics and e-commerce) and external (i.e., in manufacturing) drivers.</li>
<li>While we expect growth to slow down this year due to current trade uncertainties and the high growth exhibited by these companies in the last couple of years, 2026 onwards could turn to a more positive trend.</li>
</ul>


A year of lackluster growth plans in the Industrial Real Estate sector doesn’t mean that opportunities aren’t there.
While our outlook in the overall Real Estate industry is neutral, we are mostly positive on Industrial Real Estate, given its long-term horizon, tenant stickiness, and diversification between internal (i.e., in logistics and e-commerce) and external (i.e., in manufacturing) drivers.
While we expect growth to slow down this year due to current trade uncertainties and the high growth exhibited by these companies in the last couple of years, 2026 onwards could turn to a more positive trend.


Actinver Research - Industrial Real Estate: In the Mood for (Later) Growth (Coverage Initiation)

Mexico

Macquarie Mexico Real Estate Management SA de CV is a real estate investment trust (fideicomiso de inversion en bienes raices) targeting industrial, office and retail real estate opportunities in Mexico with a primary focus on stabilized income-producing properties. MMREIT has issued real estate trust certificates (certificados bursatiles fiduciarios inmobiliarios).

Macquarie Mexico Real Estate (FIBRAMQ MM)

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Macquarie Mexico Real Estate (FIBRAMQ MM)

Actinver Research - Real Estate Update

Industrial real estate companies once again delivered solid operational results in 3Q25, a trend we expect to continue—consistent with the outlook...

Actinver

Actinver Research - Real Estate Post 3Q25 Update

Industrial Real Estate companies once again delivered solid operational results —a trend we expect to persist— supported by ongoing development...

Actinver

Actinver Research - Industrial Real Estate: In the Mood for (Later) Growth (Coverage Initiation)

While our outlook in the overall Real Estate industry is neutral, we are mostly positive on Industrial Real Estate, given its long-term horizon,...

Actinver

Price Gauge

52-week Range

Market Cap (USDm)

P/E

Dividend (Yield)