Terrafina Net Revenues increased 22% in 2Q2020


    Terrafina reported an increase in the occupancy rate of 15 basis points to stay at 95.7%; rental income increased 6.4%

    The Real Estate Trust, focused on the industrial segment , Terrafina , released its financial results for the second quarter of 2020 ( 2Q2020 . It should be remembered that the branch to which they dedicate their efforts was not so affected

    In this regard, Terrafina announced that its net income were increased by 22.7% one; They went from 982.0 million pesos to 1,205.2 million pesos . By concept of rents, the income was of 50.3 million dollars (million dollars), an upward variation of 6.4 percent.

    At the end of the middle of the year, the occupancy rate of its portfolio went from 95.5% in June 2019 to 95.7% in 2020. This increase was strengthened by the significant increase of 9.03% in the renewal rate that went from 80 to 89 percent from one year to the next.

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    Renovations keep Fibra strong

    In its quarterly report, the industrial trust indicated that it has a portfolio of 289 properties that account for 3.93 million square meters (m2) of Gross Profitable Area (ARB) and 307 tenants.

    Terrafina's leasing activities were for 176,515.78 m2 that were distributed in 3 types of negotiation, namely:

    • 84.3%: Renewals
    • 8.1% New contracts
    • 7.6% Early renewals

    The industrial places where the highest number of negotiations were registered, as reported by the Fibra, are in the markets of: Guadalajara, Ciudad Juárez, Monterrey, Ramos Arizpe, San Luis Potosí, Tijuana, Chihuahua, Querétaro, Irapuato and Hermosillo.

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    The recovery of the industrial sector will boost Terrafina

    The general director and president of the Terrafina technical committee, Alberto Chretin, was confident about the future of the Fibra , of an eminently industrial nature, motivated by the good signs that the manufacturing sector is beginning to show.

    “Despite the fact that the Mexican economy has entered an acute recession, we are confident that the industrial manufacturing sector to which we are exposed will recover relatively quickly, in line with the recovery in the United States.

    "We also believe that the recent approval of the TMEC, a more competitive exchange rate, and trade tensions with China will continue to make Mexico an attractive destination for export activity to the United States, which will benefit our operations."