Holland & Knight Advises NEXT Properties on Industrial Portfolio Consolidation

MEXICO CITY (December 22, 2025) – Holland & Knight advised NEXT Properties in connection with the consolidation of its industrial portfolio. As part of the transaction, NEXT Properties acquired 18 industrial properties valued at approximately $1.8 billion and consolidated 182 industrial properties and 10.8 million square feet of development-ready landbanks contributed by Fibra UNO valued at approximately $6.5 billion. The transaction closed on December 18.

Additionally, Mexico City-based NEXT Properties assumed the debt related to the properties for a total of approximately $3 billion, derived from the acquired portfolios. This amount includes roughly $2 billion through a bond exchange.

This transaction follows the successful equity initial public and follow-on public offerings by NEXT Properties' parent company Fibra NEXT, a Mexican real estate investment trust (REIT) focused on industrial and logistics real estate and one of the largest in Latin America.

Holland & Knight's representation of NEXT Properties regarding the consolidation of its industrial portfolio was led by Partner Guillermo Uribe Lara, with assistance from Partner Adrián Gay Lasa and Associates Carlos Guijarro and Jorge González. Additionally, the team was supported in the debt assumption by Partners Stephen Double and Alejandro Landa Thierry, with assistance from Senior Counsel Aldo González Melo, Associates Mariana Nuñez Laguardia and Juan Mata and International Law Clerk Luciano Zanutto.

Holland & Knight has been an important counselor to Mexico's FIBRA market since the inception of the first Mexican FIBRA in 2011. The Mexico City-based team has advised Fibra UNO (BMV: FUNO11) on all of its major transactions since 2014, and the U.S.-based team has advised Fibra UNO on all of its major international financing transactions since 2019.