Fibra Next Secures USD30 Million from Over-Allotment Exercise
Fibra Next, a leading logistics and real estate company in Mexico, has announced the successful exercise in full of its over-allotment option. This move has generated an additional USD30 million in proceeds for the company. The over-allotment option was exercised by a consortium of global coordinators and joint bookrunners, including BBVA, BTG Pactual, Citigroup, J.P. Morgan, and Morgan Stanley, as well as Barclays, BofA Securities, Goldman Sachs, and Santander.
The exercise of the over-allotment option is a strong indicator of the market's confidence in Fibra Next’s business model and growth potential. The combined value of Fibra Next’s initial public offering (IPO) and follow-on offering now stands at approximately USD900 million. This significant achievement underscores the company's strategic importance in the real estate and logistics sectors.
The Certificados Bursátiles Fiduciarios Inmobiliarios (CBFIs) were offered publicly on the Mexican Stock Exchange and internationally through Rule 144A and Regulation S. These securities represent a vital source of capital for Fibra Next, enabling the company to expand its operations and invest in high-quality industrial real estate.
Fibra Next was formed as a spin-off from Fibra Uno, the largest real estate company in Latin America, focusing on logistics operations. This strategic move has positioned Fibra Next as the leading warehouse and logistics company in Mexico. The proceeds from the follow-on offering and over-allotment exercise will primarily be used for the acquisition of an industrial real estate portfolio to be contributed to Next Properties, further solidifying its position in the market.
Baker McKenzie, a leading global law firm, played a crucial role in this transaction by representing the global coordinators and joint bookrunners. The firm's New York office has been actively involved in numerous Mexican corporate equity offerings in 2025, both in terms of the number of deals and the amount of capital raised. The Baker McKenzie team was led by Transactional Practice Group Partners Mike Fitzgerald, Arturo Carrillo, Joy Gallup, Pedro Reyes, and Steven Sandretto, along with associates Alejandra Cuadra and Diego Aznar, and Tax Senior Counsel Thomas May and Partner Kia Waxman.
Baker McKenzie has a strong track record in the transactional space, with over 2,500 deal practitioners across more than 40 jurisdictions. The firm's expertise and extensive network have been instrumental in facilitating complex financial transactions like this one. Other law firms involved in the transaction include Holland & Knight (as Fibra Next’s US and Mexican counsel) and Mijares (as initial purchasers’ and dealer managers’ Mexican counsel).
This successful over-allotment exercise not only bolsters Fibra Next’s financial position but also enhances its ability to invest in strategic assets and drive sustainable growth. As the company continues to expand its footprint in the Mexican real estate and logistics sectors, it is well-positioned to capitalize on emerging opportunities and deliver long-term value to its stakeholders.
In conclusion, the exercise of the over-allotment option by Fibra Next is a testament to the company’s strong market position and the confidence of investors in its future prospects. With the additional capital, Fibra Next is poised to strengthen its leadership in the logistics and real estate markets, driving innovation and growth in the region.
