Baker McKenzie said its New York office advised global coordinators and bookrunners on the full exercise of an over-allotment option related to Fibra Next’s recent equity raise.
The transaction involved the purchase of an additional 5.5 million Real Estate Trust Certificates, known locally as CBFIs (Certificados Bursátiles Fiduciarios Inmobiliarios). As a result, Fibra Next received approximately USD 30 million in additional proceeds.
Most importantly, the full exercise signals strong demand following the trust’s follow-on equity offering. After accounting for this tranche, the combined value of Fibra Next’s initial public offering and follow-on issue stands at around USD 900 million.
The CBFIs were offered publicly in Mexico through the Mexican Stock Exchange. At the same time, the securities were made available to international investors under Rule 144A and Regulation S.
Because of this dual structure, the offering reached both domestic and global institutional investors.
Fibra Next was formed after Fibra Uno separated its logistics business into a standalone platform. Fibra Uno remains the largest real estate company in Latin America.
Following the split, Fibra Next emerged as the largest warehouse and logistics-focused real estate trust in Mexico. The capital raised from the follow-on offering, including the over-allotment proceeds, will primarily support the acquisition of an industrial real estate portfolio. This portfolio will be contributed to Next Properties.
Baker McKenzie also advised Fibra Next on its approximately USD 450 million initial public offering earlier this year. In addition, the firm supported the USD 370 million follow-on equity offering.
The Baker McKenzie team was led by transactional partners Mike Fitzgerald, Arturo Carrillo, Joy Gallup, Pedro Reyes, and Steven Sandretto. The team also included associates Alejandra Cuadra and Diego Aznar, along with tax specialists Thomas May and Kia Waxman.
Other firms involved in the transaction included Holland & Knight, which acted as US and Mexican counsel to Fibra Next, and Mijares, which represented the initial purchasers and dealer managers in Mexico.
Baker McKenzie said its New York office has advised on more Mexican corporate equity offerings in 2025 than any other US law firm, measured by both deal count and capital raised. The firm operates with more than 2,500 transactional lawyers across over 40 jurisdictions.
—----------------------
Raising capital? Explore 3,000+ PropTech and ConTech VCs in one place →https://www.proptechbuzz.com/vc
If you are a proptech company and want to promote your products for free, go to proptechbuzz.com and submit your products. For investors or proptech buyers, sign up on our platform to stay informed about exciting updates and trends in the Proptech Ecosystem.
Explore more Proptech news at proptechbuzz.com/news, for news tips and promotions, reach out to marketing@proptechbuzz.com.