Fibra Uno Announces the Fulfillment of Conditions Precedent Relating to MexFund Portfolio

MEXICO CITY, March 16, 2012 /PRNewswire/ -- Fibra Uno (BMV: FUNO11) ("Fibra Uno" or "The Trust"), Mexico's first real estate investment trust announces the execution of the Third Amendment to the Master Agreement of November 11, 2011 ("Master Agreement") between Impulsora MF, S.A.P.I. de C.V. ("MexFund") and Deutsche Bank Mexico, S.A., Institucion de Banca Multiple, Division Fiduciaria ("Trustee"), as trustee of the Trust, in which terms the conditions precedent to which the Master Agreement was subject to were fulfilled.

According to the Master Agreement, MexFund will receive 44'618,997 CBFIs in exchange for the contribution of the properties it owns ("MexFund Portfolio"), referred to in the Offering Memorandum, to the Trust. MexFund will have up to 75 days, computed from March 16, 2012, to contribute to the Trust the MexFund Portfolio, free of any liens and indebtedness, including the co-ownership rights of one of the properties with a surface area of 3,438.83 sqm, located in the Municipality of Zapopan, State of Jalisco.

According to the Master Agreement, such agreement will have retroactive effects from January 1, 2012. Therefore, from that date on rental revenue and other revenues derived from the MexFund Portfolio less related expenses correspond to the Trust.

About Fibra Uno

Fibra Uno is a Mexican trust formed primarily to acquire, own, develop and operate a broad range of commercial real estate in Mexico, including industrial, retail, tourist, office, and mixed-use properties in Mexico. Our objective is to offer attractive returns to the holders of our CBFIs through stable cash distributions and the appreciation of our real estate. We intend to selectively assemble a diversified portfolio of high-quality and strategically-located income-producing properties in Mexico.

The Trust began trading on the Mexican stock exchange on March 18, 2011. Currently, it has 17 properties in central and southern Mexico, with an approximate GLA of 706,852 sqm.

Long-term, Fibra Uno has a growing model in which it plans to buy properties and lease them as a source of recurring, reliable income.

Under Mexican law, at least 70% of a Fibra's assets must be invested in or derived from income-producing real estate, among other requirements. In addition, a Fibra must also distribute at least 95% of its net taxable income to investors at least once a year. This, combined with the attractive fundamentals of Mexico's real-estate market and a seasoned management team with over three decades of experience in the real estate industry, make Fibra Uno a unique and compelling investment story.

Fibra Uno is an internally managed by F1 Management, S.C. and externally advised by Fibra Uno Administracion S.A. de C.V., a Mexican real estate operator with a management with more than 30 years of experience in the development and operation of real estate in Mexico.

Fibra Uno's IPO was a major step forward for Mexico's real estate industry, offering investors a new investment vehicle with attractive returns while providing developers with a new source of financing. Fibra Uno seeks to increase its portfolio, as well as to offer attractive returns and create value for its investors while contributing to the development of this key sector.

SOURCE Fibra Uno