The purchase of the property portfolio for an approximate value of 1,900 million pesos translates into a net operating income of 200 million per year.
With possible acquisition portfolio of shopping centers At an estimated value of 1.9 billion pesos (mp), FibraShop will have benefits of around 200 million pesos per year in terms of net operating income (ION), according to Fitch’s rating.
If completed, would mean a strengthening of the asset portfolio and the expectation of further debt reduction accelerated of the Real Estate Investment Trust (Fibra) focused on leasing business centers.
The rating agency said the eventual acquisition would be largely paid for through Real Estate Trust Stock Certificates (CBFIs), which are currently in treasury.
At the end of September 2023, approximately 60% of total annualized income was generated by the top 5 properties and therefore the concentration of income generation and EBITDA per property may decrease as the property portfolio grows. managed by Fiber.
The above will also support the sale of Fibra’s non-strategic assets, which could allocate roughly 600 million pesos for debt prepayment.
“The slower deleveraging than expected in Fitch’s previous projections is due to a lower estimated EBITDA margin due to higher costs at La Perla and lower free cash flow due to higher interest payments on variable rate bank loans.” according to the analysis of the rating agency.
Add it FibraShop can implement its growth strategy through a combination of debt and equity financing sources, allowing it to balance its capital structure.