MONTERREY—Fibra Inn, a Mexican real estate investment trust specializing in the hotel industry, announced that it has signed an agreement for the purchase of the Marriott Real Puebla Hotel.
The agreed price for this hotel was $27.8 million, excluding taxes and acquisition expenses. This acquisition will be paid in cash with the proceeds from the initial public offering that took place on March 13. The company is finalizing the necessary negotiations in order to complete this purchase.
This is a strategic property for Fibra Inn as it will signify the addition of the Marriott global brand to its business portfolio. This property will contribute approximately 15 percent of the hotel revenues and will represent 12 percent of the Fibra’s property value.
The Marriott Real Puebla is located in the city of Puebla. It offers 192 rooms and the company expects to add another 100 rooms that will be ready to operate during the fourth quarter of 2014.