| MEXICO CITY/SAO PAULO, Sept 4
MEXICO CITY/SAO PAULO, Sept 4 Macquarie Group
Ltd's Mexican real investment trust could raise most of the $415
million in a stock offering planned for this month from foreign
investors, a sign that appetite for property assets in the
country is swelling, two sources with direct knowledge of the
Foreign investors could buy around 70 percent of Macquarie
Mexico Real Estate Management SAB de CV's offer,
with domestic investors snapping up the rest, said one of the
sources, who requested anonymity since the deal is in the works.
Fibra Macquarie, as the company is known, announced terms of the
offering earlier on Thursday.
Under those terms, Fibra Macquarie wants to sell as many as
180 million of shares worth $357 million in an offering for
resident and non-resident investors in Mexico. Taking into
account a supplementary and additional allotments, Fibra
Macquarie's offering could fetch as much as $415 million, the
second source said.
The follow-on, usually a plan to raise money from the sale
of shares after an initial public offering, is expected to be
finalized as early as next week, both sources said.
REITs have become a popular financial instrument in Latin
America's second-biggest economy because they can provide
cheaper funding than the residential and commercial mortgage
markets and stable returns to investors. Fibra Macquarie, which
went public in 2012 and has a focus on industrial and office
compounds, wants to use proceeds from the follow-on offering to
cut debt and buy more property.
Fibra Macquarie hired Banco Bilbao Vizcaya Argentaria SA
, Bank of America Corp, Morgan Stanley & Co
and JPMorgan Chase & Co to manage the local deal.
Brazilian investment-banking firms Itaú BBA SA and
Grupo BTG Pactual SA will handle the international
portion of the deal.
(Editing by Bernard Orr)