MEXICO CITY, Sept 18 (Reuters) - The Mexican Real Estate Investment Trust (REIT) of Australian investment bank Macquarie Group raised 4.865 billion pesos ($367 million) in a secondary offer of tradable certificates, the Mexican stock exchange said on Thursday.
Macquarie Mexico Real Estate Management SAB de CV's sold 65 percent of the new certificates to foreign investors and 35 percent to local players, the exchange said in a statement.
The offer priced at 23.50 pesos per certificate, the exchange said, compared with around 23.59 pesos in trading on Thursday. The certificates have shed about 10 percent since the follow-on was announced in late August.
The investment trusts, known in Mexico as "fibras," issue certificates that function much like shares on the local stock exchange and allow investors to participate in Mexico's property market without owning buildings.
REITs have become a popular financial instrument in Latin America's second-biggest economy because they can provide cheaper funding than the residential and commercial mortgage markets and stable returns to investors.
Fibra Macquarie, which went public in 2012 and has a focus on industrial and office compounds, wants to use proceeds from the follow-on offering to cut debt and buy more property. (1 US dollar = 13.2487 Mexican peso) (Reporting by Michael O'Boyle; Editing by Lisa Shumaker)