Real Estate Investment Trusts (Fibras) have established themselves as one of the most attractive financial vehicles for investing in the Mexican real estate market, offering access to diversified portfolios and stable cash flows without the need to acquire assets directly.
One way to assess a Fibra’s performance is through the price of its Real Estate Trust Certificates (CBFIs), which move based on supply and demand. These are influenced by factors such as growth and profitability expectations, the real estate segment in which the Fibra invests, and even macroeconomic conditions at both the national and international level.
The focus on the industrial sector is gaining prominence
In recent years, the industrial segment has gained prominence within Fibras’ growth strategies, driven by trends such as nearshoring and logistics expansion. Fibra Danhos, Fibra Monterrey, and Fibra Upsite have increased their investment in this asset class, adding industrial properties to their portfolios.
This trend is reflected in the behavior of their CBFIs, whose prices offer insight into how investors are valuing the transition toward portfolios with a greater industrial component, as well as near- and medium-term return prospects.
CBFI Prices Boost Fibras with Industrial Portfolios
In the case of Fibra Danhos, the price of its certificates rose from MXN $20.25 at the close of Q1 2024 to MXN $28.48 in Q1 2026 — a 41% appreciation over the past two years. This growth coincides with its entry into the industrial market, where it has added over 100,000 m² of leasable area to its portfolio, with Parque Industrial Cuautitlán I as a standout development.
Fibra Upsite recorded an increase in its CBFI price from MXN $27.00 to MXN $41.00 over the same period — a 64% rise. This performance is backed by a portfolio of ten industrial properties totaling 205,337 m², located in Tijuana, Ciudad Juárez, and Tlaxcala, with a 100% occupancy rate. It is worth noting that at the close of 2025, the Fibra announced its first distribution to investors.
Fibra Monterrey has also shown a positive trend in its CBFI performance. Its price moved from MXN $11.40 in Q1 2024 to MXN $15.18 at the close of Q1 2026, achieving a 33% appreciation in certificate value.
The near MXN $10 per-certificate increase over a two-year span point to a revaluation by investors, associated with the strength of their portfolios and greater exposure to industrial assets. In line with this trend, Fibra Danhos and Fibra Upsite recently reached their highest price levels during Q1 2026.
In conclusion, the industrial sector provides a stronger perception of stability and growth potential, cementing its status as one of the most attractive investments within the Fibras market.
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