Fibra Uno Posts 15.6% Rise in FFO Per CBFI as Third-Quarter Revenue Reaches Ps. $8,397.0 Million

Fibra Uno reported third-quarter 2026 total revenues of Ps. $8,397.0 million, up 6.0% for the quarter, and funds from operations per CBFI up 15.6% year over year, according to TradingView. The Mexico City-based trust, which trades as FUNO11 on the BMV, released the figures on October 28, 2026.

Fibra Uno's Margins and Occupancy in the Third Quarter

Total revenues rose by Ps. $475.5 million during the quarter. Net operating income and EBITDA increased by Ps. $471.6 million, or 8.0% quarter over quarter, and the NOI margin reached 84.1% over properties revenue while the EBITDA margin was 75.9% over total revenues.

FFO increased by Ps. $229.0 million, or 8.9% quarter over quarter, and FFO per CBFI rose 8.3% on the same basis. The quarterly distribution per CBFI grew 6.3% to Ps. $0.6800, with a quarterly AFFO payout of 97.6%, of which 70% is attributable to fiscal result and 30% to return of capital.

Consolidated portfolio occupancy closed at 95.6%. MXN-denominated contract renewals rose 17.7% in the industrial segment, 10.6% in the office segment and 9.6% in the retail segment, while USD-denominated renewals in retail rose 6.5%; the industrial and office segments had no US dollar-denominated lease renewals in the quarter.

Against the third quarter of 2025, total revenues increased Ps. $871.1 million, or 11.6%. NOI grew Ps. $792.8 million, or 14.2%, EBITDA grew Ps. $1,051.4 million, or 19.8%, and the EBITDA margin rose from 70.7% to 75.9%, up 520 basis points. FFO grew Ps. $397.1 million, or 16.6%, the distribution grew 12.4%, gross leasable area grew 16.0%, and total portfolio occupancy rose 60 basis points to 95.6%.

Fibra Uno's 617-Property Portfolio

Fibra Uno Administration is Mexico's largest REIT, owning and leasing 617 diversified industrial, retail, office and mixed-use properties across 27 states and serving national anchor tenants including Cinépolis, Liverpool and Chedraui, according to akta.pro company records. The same records list a market capitalization of $6.42 billion as of May 2026 and an overall portfolio occupancy rate of 95.7% for the first quarter of 2026, with the industrial segment at about 98%, retail above 94% and office at about 83%.

Fibra Uno's Industrial Spin-Off and Bond Financing

Fibra Uno carved out its industrial portfolio into Fibra NEXT in 2025, creating a joint venture, Next Properties, for industrial real estate development, and Fibra NEXT held Mexico's largest IPO since 2018, raising approximately $431 million, the same records show. The company also issued an $800 million sustainability-linked bond in 2025, tying its financing cost to ESG performance targets.

Fibra Uno's Next Steps After the Quarter

Fibra Uno's funding records list a debt-funded round of $923.2 million led by BBVA en México, dated October 2026.