How do you approach managing legal aspects during periods of instability or crises, and how does your legal strategy align with the broader business strategy to ensure the organisation’s resilience?  

During extraordinary periods of crisis or instability, we implement special follow-up protocols. Among other measures, a dedicated team is formed within our legal department, periodic follow-up meetings are scheduled, and we seek advice and support from external legal counsel to ensure that the decisions and actions taken are appropriate. As head of the legal department, I also participate in meetings at various levels of the organisation, including with the board of directors, senior management, and the directors of different departments, to ensure that the organisation is fully informed at all levels. Depending on the nature of the situation, information is regularly updated, with particular attention paid to any regulations that may be impacted or involved, and, if applicable, to any special ordinances that may be implemented or published by the relevant authority. Throughout this process, special reports are generated for the departments within the organisation that may be affected by the situation. When necessary, the discussion and analysis of the situation, the alternatives considered, and any decisions or actions taken are documented in the appropriate media, ensuring an accurate track record. Key elements of the special protocols include the formation of follow-up teams, the identification of potential legal risks associated with the crisis, the establishment of effective communication channels, the creation of documentation and information repositories, close monitoring of regulations, and the safeguarding of confidential or privileged information.  

What are the main cases or transactions you have been involved in recently?   

Follow On – 2024: Public Offering of Fibra Mty’s certificados bursátiles fiduciarios inmobiliarios, with substantial participation from international investors accounting for 56% of the gross demand. This transaction marked Fibra Mty’s seventh offering in the stock market, including its Initial Public Offering, solidifying its position as the company with the most equity issuances in Mexico over the last decade. The transaction involved a domestic public offering coupled with a simultaneous private primary international placement in the United States for qualified investors, in accordance with Regulation S and Rule 144A under the Securities Act of 1933. The offering consisted of 679,166,667 certificates, raising $7,810.4 million pesos (including the over-allotment option or green shoe), equivalent to approximately US$467.9 million. The offering was conducted under Fibra Mty’s second placement program of CBFIs and long-term fiduciary notes (CEBUREs), authorised by the Mexican National Banking and Securities Commission for an amount of $20,000,000,000.00 pesos.  

Credit Agreement – 2024: Unsecured bilateral credit agreement with Banorte for a principal amount of up to US$245.4 million, featuring an interest rate of 1-month SOFR plus a spread ranging from 180 to 200 basis points, contingent on the liabilities-to-assets ratio. This is the largest bilateral loan in notional terms in the Trust’s history and underscores the Trust’s prudent capital structure management, high-quality property portfolio, and steady growth strategy.  

Real Estate Acquisition – 2024: Acquisition of an industrial real estate portfolio for an approximate cost of US$83.3 million, in addition to the corresponding value-added tax on constructions, other taxes, acquisition costs, and expenses. The transaction involves the acquisition of six class A stabilised industrial buildings located in Querétaro, with a total approximate gross leasable area (GLA) of 93,525 m², situated on a land plot of around 253,611 m². This plot includes two land banks for expansion. Strategically located just 2 kilometres from Querétaro International Airport, these buildings enjoy seamless connectivity to key regional and federal highways, alongside convenient proximity to services provided by the two main railroad companies in Mexico.  

How can general counsel foster a corporate culture that supports ESG principles and compliance across all levels of the organisation?   

Personally, as General Counsel, I have had the opportunity and mandate to initiate and lead the company’s sustainability efforts. Today, we have a dedicated sustainability department for which I am responsible and which I lead. From this position, I have the influence and responsibility to ensure that our ESG strategy and principles are observed and complied with at all levels of the organisation. This demonstrates that General Counsel have the capacity to lead ESG efforts and strategies within companies at all levels.  

As a company, we are strongly committed to sustainability and environmentally friendly practices. Our sustainability strategy began in 2019 with a comprehensive assessment of our environmental, social, and governance practices, resulting in a strategic plan that has matured over time. During 2020, we conducted our first materiality analysis and published our first ESG report, and we have been working diligently to improve year by year ever since.  

Among other policies and initiatives in place, we have a sustainability policy, a climate change strategy, and a 2023-2025 strategic sustainability plan.  

For the third consecutive year, our company, Fibra Mty, received the highest rating in the Corporate Governance criteria among Mexican Fibras participating in the Corporate Sustainability Assessment (CSA) conducted by S&P Global. Additionally, for the first time, we received the highest rating in the entire Economic and Governance (G) criteria. The 2023 edition of the Global Real Estate Sustainability Benchmark (GRESB) awarded Fibra Mty the “Green Star” level, placing us in the top quartile compared to our peers and acknowledging our global leadership in integrating sustainability criteria throughout the entire real estate investment cycle.  

The following are some of the initiatives and sustainability frameworks that we are participating in or observing: Corporate Sustainability Assessment (“CSA”) by S&P Global; Global Real Estate Sustainability Benchmark (“GRESB”); Task Force on Climate-related Financial Disclosures (TCFD); Science Based Targets initiative (SBTi); Principles for Responsible Investment (PRI); and the UN Global Compact.  

In addition, as of 2023, 19 of our real estate portfolio properties have obtained LEED (Leadership in Energy and Environmental Design) certification from the US Green Building Council, which distinguishes existing buildings whose operations demonstrate best practices in favour of sustainability, focusing on energy performance and low environmental impact. We have also received the Green Lease Leader award (Gold level) from the Institute for Market Transformation and the US Department of Energy’s Better Buildings Alliance. Our headquarters have been awarded the EDGE (Excellence in Design for Greater Efficiencies) Advanced Certificate.