Vesta reported Q4 2025 total revenues of USD 76.4 million (+17.2%) and total revenues minus energy of USD 73.4 million (+16.0%). Q4 adjusted NOI was USD 69.4 million (+17.1%) with a 94.6% margin, and adjusted EBITDA was USD 61.1 million (+18.2%) with an 83.3% margin. Q4 total comprehensive income was USD 172.4 million. Vesta FFO was USD 39.3 million (-4.3%), while Vesta FFO less tax expense was USD 3.4 million; the company attributed the after-tax decline to higher current tax expense during the quarter, mainly due to Mexican peso appreciation. For FY 2025, total rental income was USD 283.2 million and total revenues minus energy were USD 273.6 million (+11.8%). FY adjusted NOI was USD 259.4 million (+12.0%) with a 94.8% margin, and adjusted EBITDA was USD 231.1 million (+13.1%) with an 84.4% margin. FY Vesta FFO totaled USD 174.9 million (+9.2%). Vesta said the value of its investment property portfolio was USD 4.1 billion as of Dec. 31, 2025. Business updates included FY 2025 leasing activity of 6.9 million sf (1.9 million sf new leases and 5.0 million sf renewals), with Q4 leasing activity of 1.9 million sf (771 thousand sf new leases and 1.2 million sf renewals). Total portfolio occupancy was 89.7% at quarter-end, with stabilized occupancy at 93.6% and same-store occupancy at 95.0%. Vesta started construction on two buildings during the quarter; construction in progress totaled 0.8 million sf with an estimated USD 59.0 million investment and an expected yield on cost of 9.9%. On the balance sheet, Vesta said it repaid its Metlife II credit facility and related incremental facility totaling USD 176.6 million in October 2025 and prepaid its Metlife III facility of USD 118.0 million on Feb. 17, 2026, leaving it with no secured debt. Vesta also reported a Q4 2025 dividend payment of USD 17.4 million (MXN 0.3751 per share) on Jan. 19, 2026, and guided for 2026 rental revenue growth of 10.0%-11.0%, with an adjusted NOI margin of about 93.5% and an adjusted EBITDA margin of about 83%.

Disclaimer: This news brief was created by Public Technologies (PUBT) using generative artificial intelligence. While PUBT strives to provide accurate and timely information, this AI-generated content is for informational purposes only and should not be interpreted as financial, investment, or legal advice. Vesta Real Estate Corporation SAB de CV published the original content used to generate this news brief via EDGAR, the Electronic Data Gathering, Analysis, and Retrieval system operated by the U.S. Securities and Exchange Commission (Ref. ID: 0001969373-26-000006), on February 19, 2026, and is solely responsible for the information contained therein.