Fibra Prologis ends quarter with balance sheet in ‘excellent shape’

By Devika Patel

Knoxville, Tenn., Oct. 17 – Fibra Prologis ended the last quarter with its balance sheet in “excellent shape,” management said.

“Our balance sheet remains one of the strongest in the sector,” senior vice president of finance and chief financial officer Jorge Girault said on the company’s third quarter earnings conference call on Thursday.

“We ended the quarter with weighted average debt costs of 4.5%, weighted average maturity of 4.1 years and $346 million of liquidity.

“We have positioned the portfolio and balance sheet to be in excellent shape and be ready for all parts of the market cycle,” he said.

The company ended the third quarter with Ps. 6.8 billion, or $345.8 million, of liquidity, which included Ps. 6.4 billion, or $325 million, of available capacity on its unsecured credit facility and Ps. 409.9 million, or $20.8 million, of unrestricted cash.

Based in Mexico City, Fibra Prologis owns and operates class A industrial real estate in Mexico.

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