Key Takeaways Expansion in logistics and industrial assets positions the company for growth through increased rental income and strong tenant demand in key markets. Proactive financial management and retail recovery strengthen balance sheet health and support ongoing earnings and margin improvements.Read more
Key Takeaways High concentration in Mexico City and large retail exposure increase vulnerability to localized shocks, shifting consumer trends, and persistent office sector challenges. Currency appreciation, inflation, and rising expenses threaten rent growth, compress margins, and restrain cash flow generation and future distributions.Read more
Key Takeaways Strategic portfolio moves and focus on industrial assets position FUNO for sustained rental growth, margin expansion, and long-term outperformance versus expectations. Leadership in ESG, internal development, and prime market exposure set FUNO apart, supporting premium tenant demand and stable, organically funded portfolio enhancement.Read more
We are a REIT (FIBRA) and are primarily engaged in the acquisition, development, construction, leasing, and operation of industrial, commercial, and office properties. As of June 30, 2025, we remain the largest publicly traded real estate company in Mexico in terms of number of properties, annual revenue, and market capitalization, and we believe our portfolio represents one of the largest and highest-quality portfolios of industrial, commercial, and office properties in Mexico. Our objective is the creation of sustained, long-term value, primarily through the appreciation of our properties and the generation of stable cash flows. We achieve this by executing our strategy focused on maintaining a diversified portfolio, high occupancy rates, competitive rents, premium locations, and high-quality assets, all geared toward long-term relationships with our clients. We are a Mexican trust and conduct our business to qualify as a FIBRA in accordance with Articles 187 and 188 of the Mexican Income Tax Law (LISR). To qualify for tax purposes as a FIBRA, we must distribute at least 95% (ninety-five percent) of our taxable income annually, and at least 70% (seventy percent) of our assets must be invested in real estate and developments intended for lease, among other requirements. We conducted our initial public offering of CBFIs on March 18, 2011, raising approximately Ps. $3,584 million in gross proceeds, including the exercised over-allotment option (the “Initial Offering”). In connection with our Initial Offering, we completed formation transactions that consolidated our Initial Portfolio of 16 Properties and the Lease Rights of one Property (for a total of 17 Properties). We have also conducted three follow-on CBFI offerings totaling Ps. $63,743 million, which have provided us with the resources to continue our growth and further consolidate our Portfolio. We were established as a trust on January 10, 2011, in accordance with applicable law. Our registered office is located at Antonio Dovalí Jaime No. 70, Tower B, 11Qh Floor, Col. Zedec Santa Fe, CP 01210, Álvaro Obregón Borough, Mexico City. A copy of our Trust Agreement has been filed with the CNBV and the BMV, and is available for review at the BMV and with the placement agents who participated in the Initial Offering of CBFIs.
