How Fibra Uno’s offering transforms Mexico's securities market

Author: Michael Washburn | Published: 21 Feb 2013

The third public offering of Mexican real estate investment trust Fibra Uno has been widely reported as a transactional breakthrough with the potential to help the REIT asset class attract new investors from around the world.

But the real implication of Fibra Uno and its successful offering may be a more general turnaround in a Mexican securities and real estate market, viewed as lackluster and sluggish compared to others in Latin America.

Part of this change involves a willingness of officials and regulators to turn decisively away from the global 2008 crisis and give a green light to innovative investment vehicles through tax incentives. These incentives set the stage for Fibra Uno’s hugely successful offering.

“The crisis of 2008 didn’t help us to complete this...