From the IFC:
The proposed project consists of credit facility through a financing structure with Fideicomiso Hipotecario. With this financing, FHipo will continue to provide liquidity to mortgage loan originators in Mexico, allowing them to expand the amount of mortgages granted and thus benefiting a greater number of Mexican families.
FHipo is managed by Concentradora Hipotecaria S.A.P.I. de C.V.
IFC's support will enable FHipo to expand the scale of its investments, by increasing the amount of residential mortgage portfolios acquired by them. This in turn is expected to have a twofold impact:
i) Residential mortgages originators will be benefited by obtaining access to liquidity and funding diversification to increase their operations, and, consequently, increasing the number of families being able to get mortgage financing; and ii) Institutional investors will also benefit from the proposed Project, since it will contribute to a wider availability of impact investment opportunities in form of RMBS in the capital markets.
The proposed total IFC investment consists of an A Loan of up to MXN2,000 million (US$113 million), on IFC's own account.
FHipo, a publicly entity traded in the Mexican stock exchange, is the first real estate investment trust established to acquire, originate, co-participate, and manage mainly mortgage portfolios in Mexico. Currently, it is the only investment vehicle that provides investors with exposure solely to the Mexican mortgage market and rewards them through a combination of dividend payments and capital gains. FHipo is managed by Concentradora Hipotecaria S.A.P.I. de C.V., which has a management team that overall accounts with more than 50 years of experience in the finance and mortgage sector.
Concentradora Hipotecaria, as Advisor and Manager of Fideicomiso Irrevocable F/2061 FHipo
+52 55 4744 1100
Juan Salvador Agraz 65 9th Floor, Lomas de Santa Fe, Mexico City, 05300
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