MEXICO CITY, Feb. 27, 2024 /PRNewswire/ — FIBRA Prologis (BMV: FIBRAPL 14), a leading owner and operator of Class-A industrial real estate in Mexico, announces that its Manager, Prologis Property México, S.A. de C.V., has agreed to reduce its Asset Management Fee (as defined in the Management Agreement entered into between FIBRA Prologis and the Manager), currently calculated as 75bps on assets under management pursuant to the terms set forth under the Management Agreement, to the following structure:
Appraised value of Assets Under
Management* (in US$000’s)
Fee in bps
From $0 to $5,000,000
75 bps
> $5,000,000
60 bps
FIBRA Prologis and the Manager will enter into an amendment agreement to the Management Agreement to formalize this change so that it becomes effective beginning March 1, 2024.
“This significant reduction in management fees going forward is in response to investor feedback and reflection of the evolution of the FIBRA sector by having a more efficient cost structure …