Macquarie Mexican REIT to acquire retail portfolio, JV with Grupo Frisa

theflyonthewall.com

Macquarie Mexican REIT announced it has reached an agreement to acquire a 50% interest in a portfolio of nine retail properties and additional land for Ps.1.47B, or approximately $113.3M, excluding VAT, transaction costs and property tax from Kimco Realty Corporation. An additional payment may be made to Kimco if certain occupancy and rental growth thresholds are met eighteen months after closing. US dollar figures are based on an exchange rate of 12.99 Ps./USD.

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