Fibra MQ SLL (IFC-47718)

Countries
  • Mexico
Geographic location where the impacts of the investment may be experienced.
Specific Location
Mexico City Metropolitan Area, Monterrey, Ciudad Juarez, Reynosa, and Tijuana
Whenever identified, the area within countries where the impacts of the investment may be experienced. Exact locations of projects may not be identified fully or at all in project documents. Please review updated project documents and community-led assessments.
Financial Institutions
  • International Finance Corporation (IFC)
International, regional and national development finance institutions. Many of these banks have a public interest mission, such as poverty reduction.
Project Status
Active
Stage of the project cycle. Stages vary by development bank and can include: pending, approval, implementation, and closed or completed.
Bank Risk Rating
B
Environmental and social categorization assessed by the development bank as a measure of the planned project’s environmental and social impacts. A higher risk rating may require more due diligence to limit or avoid harm to people and the environment. For example, "A" or "B" are risk categories where "A" represents the highest amount of risk. Results will include projects that specifically recorded a rating, all other projects are marked ‘U’ for "Undisclosed."
Voting Date
Jun 28, 2024
Date when project documentation and funding is reviewed by the Board for consideration and approval. Some development banks will state a "board date" or "decision date." When funding approval is obtained, the legal documents are accepted and signed, the implementation phase begins.
Borrower
Fibra Macquarie Mexico
A public entity (government or state-owned) provided with funds or financial support to manage and/or implement a project.
Sectors
  • Communications
  • Industry and Trade
The service or industry focus of the investment. A project can have several sectors.
Investment Type(s)
Loan
The categories of the bank investment: loan, grant, guarantee, technical assistance, advisory services, equity and fund.
Investment Amount (USD)
$ 150.00 million
Value listed on project documents at time of disclosure. If necessary, this amount is converted to USD ($) on the date of disclosure. Please review updated project documents for more information.
Project Cost (USD)
$ 150.00 million
Value listed on project documents at time of disclosure. If necessary, this amount is converted to USD ($) on the date of disclosure. Please review updated project documents for more information.
Bank Documents
Primary Source

Original disclosure @ IFC website

Updated in EWS Nov 12, 2024

Disclosed by Bank Jul 11, 2024

Contribute Information
Can you contribute information about this project?
Contact the EWS Team

Project Description
If provided by the financial institution, the Early Warning System Team writes a short summary describing the purported development objective of the project and project components. Review the complete project documentation for a detailed description.

According to the Bank’s website, the proposed project entails an up to US$150 million sustainability linked “A” loan with a tenor of up to seven years to FIBRA MQ to develop its 2023–2025 investment program in industrial parks. This includes the development of new green industrial assets in markets such as Mexico City Metropolitan Area, Monterrey, Ciudad Juarez, Reynosa, and Tijuana for a total of 2 million square footage in gross leasing area (GLA). It also includes energy efficiency upgrades in existing properties through IFC’s Green Pathways for Real Estate Institutional Portfolios (GRIP) decarbonization program (both capital expenditure and advisory initiatives together are defined as the Project). 

Early Warning System Project Analysis
For a project with severe or irreversible impacts to local community and natural resources, the Early Warning System Team may conduct a thorough analysis regarding its potential impacts to human and environmental rights.

This is a Category B project according to IFC's Policy on Environment and Social Sustainability (2012) as it is expected to have potential limited adverse E&S risks and/or impacts that are few in number, generally site-specific, largely reversible, and readily addressed through mitigation measures. Key E&S issues and risks identified are: (i) adequacy of the existing E&S management system; (ii) labor and working conditions, occupational health and safety (OHS), contractor management; (iii) life and fire safety; (iv) community health and safety; and (v) stakeholder engagement/grievance mechanism.

Investment Description
Here you can find a list of individual development financial institutions that finance the project.

The total project cost stands at US$150 million consisting of a US$150 million A-Loan to finance FIBRA MQ’s 2023-2025 investment program in industrial parks.

Private Actors Description
A Private Actor is a non-governmental body or entity that is the borrower or client of a development project, which can include corporations, private equity and banks. This describes the private actors and their roles in relation to the project, when private actor information is disclosed or has been further researched.

According to the IFC, FIBRA Macquarie Mexico (FIBRA MQ) is a publicly listed Mexican real estate investment trust with a US$1.3 billion market capitalization, headquartered in Mexico City that primarily focuses on the acquisition, development, leasing, and management of industrial real estate assets. Macquarie Asset Management Mexico S.A. de C.V. (MAM) has a 4.8% shareholding in Fibra MQ, with the remaining 95.2% being free float. The FIBRA is externally managed by the Macquarie Group through its asset management division and through MAM, a Mexican management company. The Macquarie Group is a reputable global asset manager of Australian origin, managing more than US$540 billion in total assets under management globally.                                             

Private Actor 1 Private Actor 1 Role Private Actor 1 Sector Relation Private Actor 2 Private Actor 2 Role Private Actor 2 Sector
- - - - Fibra Macquarie Mexico Client -

Contact Information
This section aims to support the local communities and local CSO to get to know which stakeholders are involved in a project with their roles and responsibilities. If available, there may be a complaint office for the respective bank which operates independently to receive and determine violations in policy and practice. Independent Accountability Mechanisms receive and respond to complaints. Most Independent Accountability Mechanisms offer two functions for addressing complaints: dispute resolution and compliance review.

Fibra Macquarie Mexico
Investor Relations
n.a
+52 (55) 9178 7763
fibramq@macquarie.com
Pedregal 24 Piso 21, Molino del Rey11040, Ciudad de MexicoMéxico
www.fibramacquarie.com

ACCESS TO INFORMATION

You can submit a request for information disclosure at: https://disclosures.ifc.org/#/inquiries

If you believe that your request for information from IFC has been unreasonably denied, or that this Policy has been interpreted incorrectly, you can submit a complaint at the link above to IFC's Access to Information Policy Advisor, who reports directly to IFC's Executive Vice President.

ACCOUNTABILITY MECHANISM OF IFC/MIGA

The Compliance Advisor Ombudsman (CAO) is the independent complaint mechanism and fact-finding body for people who believe they are likely to be, or have been, adversely affected by an IFC or MIGA- financed project. If you submit a complaint to the CAO, they may assist you in resolving a dispute with the company and/or investigate to assess whether the IFC is following its own policies and procedures for preventing harm to people or the environment. If you want to submit a complaint electronically, you can email the CAO at CAO@worldbankgroup.org You can learn more about the CAO and how to file a complaint at http://www.cao-ombudsman.org

How it works

How it works