FIBRA Macquarie (BMV: FIBRAMQ), ended 4Q16 with a revenue of US$47.1 million, a 2.3 percent drop from the US$48.2 million it achieved in 4Q15 due to exchange rate fluctuations. The company experienced a 15.6 percent increase in revenues in pesos, to MX$934 million in 4Q16 from MX$808.1 million in 4Q15.
Net operating income remained static at US$41 million in 4Q16, the same as was recorded in 4Q15. But the company raised its occupancy rate to 93 percent in 4Q16 from 92.2 percent in 4Q15.
“In 2016, we delivered positive results across our operations, including a record level of leasing activity, which contributed to strong AFFO and NOI growth for the year,” said Juan Monroy, CEO of FIBRA Macquarie. “We also completed a refinancing a program, which further enhanced our balance sheet and liquidity profile.”
FIBRA Macquarie focuses on the acquisition, ownership, leasing and management of retail, office and real estate properties in Mexico. During the quarter, Macquarie opened a new Cinepolis PLUSS and released new leases at the Magnocentro shopping center in Mexico City, which are expected to help increase foot traffic in the center.