Fibra Uno in deal to buy Mexico City mall for 5.4 bln pesos

MEXICO CITY, July 24 Thu Jul 24, 2014 4:27pm EDT

MEXICO CITY, July 24 (Reuters) - Mexican real estate investment trust (REIT) Fibra Uno said on Thursday it had reached a deal to buy a shopping center in Mexico City's upscale Santa Fe neighborhood for 5.4 billion pesos ($416.72 million).

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 = 12.9582 Mexican Pesos) (Reporting by Tomas Sarmiento)

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