Fibra Educa Will Close The Year With 13% Profits in the Industry

Fibra Educa the first real estate investment trust in the education sector estimates to close this year with a growth of more than 13% in the gross profitable area that it currently consolidates since it is in the process of closing the acquisition of a portfolio of properties that they add more than 50000 square meters of gross profitable area

We have an operation in process for a long time that due to its size requires going through the competition authorities It has been a little slower than usual not so much because it generates some risk of concentration simply because the administrative processes in times of pandemic have not had the same form as in the past said Raúl Martínez Solares Piña general director of the trust investment in real estate fiber

During the traditional conference call with stock market analysts on the occasion of the discussion of their third financial results report the manager hoped to be able to close this acquisition soon which will give them additional growth in terms of leased area and at the same time it will allow to continue advancing in new investments

The potential acquisitions in addition to the investment that is about to close would add another 25000 square meters of gross profitable area for the following year To finance these opportunities they will analyze resorting to equity financing

For 2022 we have identified additional opportunities but until we close this one that is associated with a bank loan which we have already made known to the public we cannot program what would be the necessary flow of resources that will probably be required to go again to the financial market to attract resources and be able to carry out additional acquisitions added Raúl Martínez

At the end of last June the person also responsible for investor relations advanced his plans to buy an educational institution located to the west of the Mexican Republic and whose payment would be made with part of the 6000 million pesos of a syndicated bank loan that they managed

As of September the properties of the educational real estate trust totaled 449196 square meters fully rented It has 59 buildings of which 19 are university campuses 35 are learning centers and five are office buildings

Fibra Educa closed the third quarter of the year with a 553 growth in its total rental income and with a 764 increase in its net operating income NOI While funds from operations FFO for its acronym in English increased 794 percent

Pina said that even though the uncertainty in the provision of educational services has continued they have maintained a close relationship with their tenants to ensure the payment of rents

The performance of the educational real estate trust in the local stock market stands out The price of its certificates has appreciated 4263 to 4279 pesos per unit so far this year compared to the level of 30 pesos at the end of December 31 2020

We will continue working so that in an environment that has been volatile and complex we continue with our good performance and giving good results to investors said the executive

We are confident that in 2022 we will have a much more stable work horizon with a gradual but more sustained return to educational normality and this will improve results including continuing with the expansion that we have been slowed by the pandemic the general director of Fibra Educa ended.

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