FIBRA Prologis Reports Record Net Effective Rents and Strong Operating Results

FIBRA Prologis, a leading owner and operator of Class-A industrial real estate in Mexico, has announced its first-quarter 2025 results, showcasing impressive resilience in the face of global trade uncertainty. The company's solid operating performance is underpinned by operational discipline, a fortress balance sheet, and strategic positioning in Mexico's best logistics real estate markets. FIBRA Prologis has maintained a consistent focus on execution and long-term value creation for its shareholders.

Key Takeaways:

• FIBRA Prologis reported record net effective rents on rollover of 65.2 percent, a significant increase from 47.7 percent in the first quarter of 2024.
• The company achieved period-end and average occupancy rates of 98.8 and 98.1 percent, respectively, with five markets exceeding 97 percent occupancy.
• Customer retention rate was 93.6 percent, a notable improvement from 75.4 percent in the same period last year.
• Same store cash NOI and same store net effective NOI growth were 2.0 and 4.6 percent, respectively, driven primarily by rent change and annual rent increases.
• FIBRA Prologis appointed an independent chairman to its Technical Committee and reported a fortress balance sheet with leverage at 22.9 percent and liquidity of approximately Ps. 11.2 billion (US$546 million) as of March 31, 2025.

Statistics:

• Record net effective rents on rollover: 65.2%
• Period-end occupancy: 98.8%
• Average occupancy: 98.1%
• Customer retention rate: 93.6%
• Same store cash NOI growth: 2.0%
• Same store net effective NOI growth: 4.6%

Sources:

• FIBRA Prologis (PRNewswire, April 29, 2025)
• FIBRA Prologis Operating Portfolio 1Q25 (Source: FIBRA Prologis)