FIBRA UNO DELIVERS STRONG QoQ FFO PER CBFI GROWTH OF 13.4%
Mexico City, Mexico, April 29th, 2021 – Fibra Uno (BMV: FUNO11) (“FUNO” o “Fideicomiso Fibra Uno”), the first and largest Real Estate Investment Trust in Mexico and Latin America announces its results for the fourth quarter of 2020.
1Q21 Highlights
First Quarter 2021
- Total revenues after COVID-19 related supports increased 3.4% QoQ to Ps. 5,369.5 million.
- NOI increased 2.6% QoQ to Ps. 4,220.1 million as NOI margin over rents reached 86.1%.
- Net COVID-19 related supports for Ps. 5.8 million.
- By the end of the quarter, we closed the sale of one office building in the state of Mexico for Ps. 172.5 million at 1.2x book value.
- Sale of a plot of land from “Corredor Urbano” in Querétaro for Ps. 100 million at 1.2x book value.
- During the quarter, we closed the acquisition of the Memorial Portfolio for Ps. 2,192.0 million at a Cap Rate of 12.3%.
- AFFO quarterly payout of Ps. 0.3283 per CBFI or 59.2%.
- The buyback program recorded 54,342,487 CBFIs or 1.4% of the outstanding CBFIs.
- Total portfolio occupancy closed at 92.5% vs 93.1% in the previous quarter.
- GLA grew 0.8% QoQ reaching 10.8 million square meters.
- Leasing spreads vs. peso inflation were 5.7% in industrial, flat or 0% in retail, and -2.3% in office.
- NAV/CBFI(1) =Ps. 44.80.
Compared to First Quarter 2020
- Total revenues after COVID-19 related supports increased 3.9% YoY.
- NOI increased 1.4% YoY.
- NOI margin over rents remained above 86%.
- NOI/CBFI(2) increased 3.7% YoY.
- In the last twelve months we have repurchased 131,370,093 CBFIs or 3.4% of the outstanding CBFIs at the end of the quarter.
- We continue to adhere to a distribution policy similar in yield to the previous quarter’s payout, or to the minimum required by law (95% of net fiscal result).
- FUNO’s GLA grew 5.5% YoY, reaching 10.8 million square meters.
- In the past 12 months, we completed the development of five properties: Torre M (Mitikah), La Viga, La Isla Cancun II and Medical Tower (Mitikah), adding up to approximately 236 thousand sqm.
- Over the same period, we also closed the acquisition of 5 properties from the group of properties denominated Hercules, Uptown Juriquilla and the Memorial Portfolio for approximately 415 thousand sqm.
(1) Calculated with CFBIs outstanding at the end of the period. (2) Calculated with the average CBFIs of the period.
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Investor Relations Contact Details
Jorge Pigeon, VP Investor Relations
Tel: +52-55-41-70-70-70
E-mail: investor@fibrauno.mx
Website: https://en.funo.mx/investors