{"id":265174,"date":"2024-02-27T07:44:00","date_gmt":"2024-02-27T11:44:00","guid":{"rendered":"https:\/\/hispanicprwire.com\/english-fibra-prologis-lowers-management-fee-paid-to-prologis-going-forward\/"},"modified":"2024-02-27T09:00:01","modified_gmt":"2024-02-27T13:00:01","slug":"fibra-prologis-reduce-el-pago-relativo-de-la-comision-por-administracion-de-activos-de-prologis","status":"publish","type":"post","link":"https:\/\/hispanicprwire.com\/en\/fibra-prologis-reduce-el-pago-relativo-de-la-comision-por-administracion-de-activos-de-prologis\/","title":{"rendered":"FIBRA Prologis Lowers Management Fee Paid to Prologis going forward"},"content":{"rendered":"<p><\/p>\n<style type=\"text\/css\"><![CDATA[\n\/* Style Definitions *\/\nspan.prnews_span\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\na.prnews_a\n{\ncolor:blue;\n}\nli.prnews_li\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\np.prnews_p\n{\nfont-size:0.62em;\nfont-family:\"Arial\";\ncolor:black;\nmargin:0in;\n}\n.prngen4{\nPADDING-RIGHT:0.17em; PADDING-LEFT:0.17em; VERTICAL-ALIGN: BOTTOM; TEXT-ALIGN: CENTER; BORDER-TOP:black 1pt; BORDER-RIGHT:black 0.5pt solid; BORDER-BOTTOM:black 0.5pt solid; BORDER-LEFT:black 0.5pt solid\n}\n.prngen5{\nPADDING-RIGHT:0.17em; PADDING-LEFT:0.17em; VERTICAL-ALIGN: BOTTOM; TEXT-ALIGN: CENTER; BORDER-TOP:black 1pt; BORDER-RIGHT:black 0.5pt solid; BORDER-BOTTOM:black 0.5pt solid; BORDER-LEFT:black 1pt\n}\n.prnbcc{\nBORDER-COLLAPSE: COLLAPSE; BORDER-TOP:1pt  black; BORDER-RIGHT:1pt  black; BORDER-BOTTOM:1pt  black; BORDER-LEFT:1pt  black\n}\n.prnrbrb1{\nBORDER-RIGHT:black 1pt\n}\n.prnbsbls{\nBORDER-LEFT:black 0.5pt solid\n}\n.prnml4{\nMARGIN-TOP:0em; MARGIN-RIGHT:0em; MARGIN-BOTTOM:0em; MARGIN-LEFT:0.33em !IMPORTANT\n}\n.prnpl2{\nPADDING-LEFT:0.17em\n}\n.prntac{\nTEXT-ALIGN: CENTER\n}\n.prnbbbs{\nBORDER-BOTTOM:black 0.5pt solid\n}\n.prnbrbrs{\nBORDER-RIGHT:black 0.5pt solid\n}\n.prnsbtb1{\nBORDER-TOP:black 1pt\n}\n.prncbts{\nBORDER-TOP:black 0.5pt solid\n}\n.prnpr2{\nPADDING-RIGHT:0.17em\n}\n.prnsblb1{\nBORDER-LEFT:black 1pt\n}\n.prnvab{\nVERTICAL-ALIGN: BOTTOM\n}\n.prnsbbb1{\nBORDER-BOTTOM:black 1pt\n}\n]]><\/style>\n<div class=\"xn-content\">\n<p><span class=\"xn-location\">MEXICO CITY<\/span>, <span class=\"xn-chron\">Feb. 27, 2024<\/span> \/PRNewswire-HISPANIC PR WIRE\/ &#8212; FIBRA Prologis (BMV:\u00a0FIBRAPL\u00a014), a leading owner and operator of Class-A industrial real estate in <span class=\"xn-location\">Mexico<\/span>, announces that its Manager, Prologis Property M\u00e9xico, 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:<\/p>\n<div>\n<table border=\"0\" cellspacing=\"0\" cellpadding=\"1\" class=\"prnbcc\">\n<tr>\n<td class=\"prnpr2 prnpl2 prnvab prntac prncbts prnbrbrs prnbbbs prnbsbls\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\"><span class=\"prnews_span\"><b>Appraised value of Assets Under <br \/>Management* (in US$000&#8217;s)<\/b><\/span><\/p>\n<\/td>\n<td class=\"prnpr2 prnpl2 prnvab prntac prncbts prnbrbrs prnbbbs prnsblb1\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\"><span class=\"prnews_span\"><b>Fee in bps<\/b><\/span><\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen4\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\"><span class=\"prnews_span\">From $0 to $5,000,000<\/span><\/p>\n<\/td>\n<td class=\"prngen5\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\"><span class=\"prnews_span\">75 bps<\/span><\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen4\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\"><span class=\"prnews_span\">&gt; \u00a0<\/span><span class=\"prnews_span\">$5,000,000<\/span><\/p>\n<\/td>\n<td class=\"prngen5\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\"><span class=\"prnews_span\">60 bps<\/span><\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prnpr2 prnpl2 prnvab prntac prnsbtb1 prnrbrb1 prnsbbb1 prnsblb1\" colspan=\"2\" rowspan=\"1\"><\/td>\n<\/tr>\n<\/table>\n<\/div>\n<p>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 <span class=\"xn-chron\">March 1, 2024<\/span>.<\/p>\n<p>&#8220;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 as portfolios grow. This is a good result for FIBRA Prologis, our investors and stakeholders,&#8221; said <span class=\"xn-person\">Jorge Girault<\/span>, CFO of FIBRA Prologis.<\/p>\n<p>* The appraised value of assets under management of FIBRA Prologis is calculated pursuant to Clause 8.1(b) of the Management Agreement<\/p>\n<p><b>ABOUT FIBRA PROLOGIS<\/b><\/p>\n<p>FIBRA Prologis is a leading owner and operator of Class-A industrial real estate in <span class=\"xn-location\">Mexico<\/span>. As of <span class=\"xn-chron\">December 31, 2023<\/span>, FIBRA Prologis was comprised of 235 logistics and manufacturing facilities in six industrial markets in <span class=\"xn-location\">Mexico<\/span> totaling 46.9 million square feet (4.4 million square meters) of gross leasable area.<\/p>\n<p><b>FORWARD-LOOKING STATEMENTS<\/b><\/p>\n<p>The statements in this release that are not historical facts are forward-looking statements. These forward-looking statements are based on current expectations, estimates and projections about the industry and markets in which FIBRA Prologis operates, management&#8217;s beliefs and assumptions made by management.\u00a0 Such statements involve uncertainties that could significantly impact FIBRA Prologis financial results. Words such as &#8220;expects,&#8221; &#8220;anticipates,&#8221; &#8220;intends,&#8221; &#8220;plans,&#8221; &#8220;believes,&#8221; &#8220;seeks,&#8221; &#8220;estimates,&#8221; variations of such words and similar expressions are intended to identify such forward-looking statements, which generally are not historical in nature.\u00a0 All statements that address operating performance, events or developments that we expect or anticipate will occur in the future \u2014 including statements relating to rent and occupancy growth, acquisition activity, development activity, disposition activity, general conditions in the geographic areas where we operate, our debt and financial position, are forward-looking statements. These statements are not guarantees of future performance and involve certain risks, uncertainties and assumptions that are difficult to predict. Although we believe the expectations reflected in any forward-looking statements are based on reasonable assumptions, we can give no assurance that our expectations will be attained and therefore, actual outcomes and results may differ materially from what is expressed or forecasted in such forward-looking statements. Some of the factors that may affect outcomes and results include, but are not limited to: (i) national, international, regional and local economic climates, (ii) changes in financial markets, interest rates and foreign currency exchange rates, (iii) increased or unanticipated competition for our properties, (iv) risks associated with acquisitions, dispositions and development of properties, (v) maintenance of real estate investment trust (&#8220;FIBRA&#8221;) status and tax structuring, (vi) availability of financing and capital, the levels of debt that we maintain and our credit ratings, (vii) risks related to our investments (viii) environmental uncertainties, including risks of natural disasters, (ix) risks related to the coronavirus pandemic, and (x) those additional factors discussed in reports filed with the &#8220;Comisi\u00f3n Nacional Bancaria y de Valores&#8221; and\u00a0 the Mexican Stock Exchange by FIBRA Prologis under the heading &#8220;Risk Factors.&#8221; FIBRA Prologis undertakes no duty to update any forward-looking statements appearing in this release.<\/p>\n<p>Non-Solicitation &#8211; Any securities discussed herein or in the accompanying presentations, if any, have not been registered under the Securities Act of 1933 or the securities laws of any state and may not be offered or sold in <span class=\"xn-location\">the United States<\/span> absent registration or an applicable exemption from the registration requirements under the Securities Act and any applicable state securities laws. Any such announcement does not constitute an offer to sell or the solicitation of an offer to buy the securities discussed herein or in the presentations, if and as applicable.<\/p>\n<div id=\"prni_dvprnejpg53e9left\" dir=\"ltr\" style=\"width: 100%; text-align: left;\"><img decoding=\"async\" id=\"prnejpg53e9left\" title=\" \" src=\"https:\/\/mma.prnewswire.com\/media\/528012\/FIBRA_Prologis_R1_Logo.jpg\" alt=\" \" align=\"middle\"\/><\/div>\n<p>Logo &#8211; <a href=\"https:\/\/c212.net\/c\/link\/?t=0&amp;l=en&amp;o=4100936-1&amp;h=128672543&amp;u=https%3A%2F%2Fmma.prnewswire.com%2Fmedia%2F528012%2FFIBRA_Prologis_R1_Logo.jpg&amp;a=https%3A%2F%2Fmma.prnewswire.com%2Fmedia%2F528012%2FFIBRA_Prologis_R1_Logo.jpg\" target=\"_blank\" rel=\"nofollow\">https:\/\/mma.prnewswire.com\/media\/528012\/FIBRA_Prologis_R1_Logo.jpg<\/a>\u00a0<\/p>\n<p>SOURCE  FIBRA Prologis<\/p>\n<\/div>\n<p><\/p>","protected":false},"excerpt":{"rendered":"<div class=\"xn-content\">\n<p><span class=\"xn-location\">MEXICO CITY<\/span>, <span class=\"xn-chron\">Feb. 27, 2024<\/span> \/PRNewswire-HISPANIC PR WIRE\/ &#8212; FIBRA Prologis (BMV:\u00a0FIBRAPL\u00a014), a leading owner and operator of Class-A industrial real estate in <span class=\"xn-location\">Mexico<\/span>, announces that its Manager, Prologis Property M\u00e9xico, 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&#8230;<\/p>\n","protected":false},"author":1,"featured_media":265175,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[2],"tags":[],"class_list":["post-265174","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-negocios-y-finanzas"],"acf":[],"_links":{"self":[{"href":"https:\/\/hispanicprwire.com\/en\/wp-json\/wp\/v2\/posts\/265174","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/hispanicprwire.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/hispanicprwire.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/hispanicprwire.com\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/hispanicprwire.com\/en\/wp-json\/wp\/v2\/comments?post=265174"}],"version-history":[{"count":"1","href":"https:\/\/hispanicprwire.com\/en\/wp-json\/wp\/v2\/posts\/265174\/revisions"}],"predecessor-version":[{"id":265176,"href":"https:\/\/hispanicprwire.com\/en\/wp-json\/wp\/v2\/posts\/265174\/revisions\/265176"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/hispanicprwire.com\/en\/wp-json\/wp\/v2\/media\/265175"}],"wp:attachment":[{"href":"https:\/\/hispanicprwire.com\/en\/wp-json\/wp\/v2\/media?parent=265174"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/hispanicprwire.com\/en\/wp-json\/wp\/v2\/categories?post=265174"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/hispanicprwire.com\/en\/wp-json\/wp\/v2\/tags?post=265174"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}