Mexico's Fibra Uno acquires property portfolio for $750 mln
MEXICO CITY Dec 2 (Reuters) - Mexican real estate investment trust (REIT) Fibra Uno has reached a deal to acquire a portfolio of 19 properties for 10.5 billion pesos ($750 million), the company said in a statement to the stock market published on Tuesday.
The portfolio includes 10 established shopping malls, two others in development as well as seven lots to be developed.
REITs, known locally as fibras, issue certificates that function like shares and allow investors to participate in Mexico's property market without owning buildings. (1 US dollar = 14.0032 Mexican peso) (Reporting by Mexico Newsroom)
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