FUNO celebrates a year with great results at the end of 2021

On Friday, February 25th, FIBRA Uno presented its financial results for the fourth quarter of 2021 to investors and the public. The real estate trust reported a total occupancy rate of 92.2%, divided into industrial assets at 95.7%, commercial at 89.4%, and offices at 75.4% (the "other" segment had a 99.4% occupancy rate).

With over 10 million square meters of gross leasable area (GLA), FIBRA Uno demonstrated significant financial recovery, including net operating income (NOI) of 4.604.4 billion pesos, operating flows (FFO) of 2.538.9 billion pesos, and adjusted FFO (AFFO) of 2.635.1 billion pesos. These metrics translate into total revenues of over 5.897 billion pesos, of which over 2.581.1 billion pesos will be distributed to investors holding more than 3.799.9 billion certificates (CBFI) on the Mexican Stock Exchange.

During the quarter, FIBRA Uno made notable changes to its properties, such as the new classification of office buildings called "Business Parks" that are located within industrial parks. This classification was applied to the six buildings that make up Centrum Park. The trust also has over 852,000 square meters of GLA under development, including Tepozpark, Tapachula, and Satélite in the industrial, retail, and office segments, which are currently being developed. Additionally, the mixed-use Galerías Valle Oriente project is expanding, and the Mítikah project, which is being co-invested in with Helios, is being developed in the commercial and office segments and is expected to be completed in 2024.

Regarding recent transactions, FIBRA Uno reported the sale of a hospital-use building to one of the leading operators in the sector. The movement was made without a cap rate as there was no tenant at the time of sale. The trust also mentioned the placement of two bonds known as "FUNO 21 X and 21-2 X," which together allocated more than 8.1 billion pesos to its debt.

During the call on the same day, André El-Mann, CEO of FIBRA Uno, stated that they felt more comfortable with the logistics sector than the manufacturing sector, driven by the increased demand observed in Mexico's logistics industry. In response to a question from an analyst, El-Mann discussed the future occupancy of over 10,000 square meters of GLA in Torre Mayor, which is expected to be announced soon. He also highlighted the importance of projects like Mítikah and Tepozpark in increasing the trust's AFFO by CBFI, as well as the recent sale.

Finally, in terms of sustainability, the trust celebrated the LEED Gold certification completion in the Cuarzo Tower, which has over 57,000 square meters of GLA. It also received EDGE certification in two industrial warehouses in Lerma Park with a total area of over 58,000 square meters of GLA. Additionally, for the second consecutive year, FIBRA Uno ranked in the top 15 global companies with the best environmental, social, and governance (ESG) practices by Standard & Poor's.

To learn more about FIBRA Uno's financial, stock market, and real estate operations, as well as other Mexican commercial real estate trusts, please visit FIBRA Analytics.