The first and largest Real Estate Investment Trust in Mexico, FIBRA UNO (FUNO), released its results for the second quarter of 2020, where according to the document issued by the company, in that period there was a decrease of 16.8 % in Total Revenues to reach 4,298.3 million pesos (mp), the above due to the 973.2 million pesos that gave support to their tenants due to the Covid-19 crisis.

“You have never seen a drop in revenue, the company has always come with increasing revenue quarter by quarter, it is the first in which we have a drop of that magnitude. These results are due to the discounts we have given to the tenants, the vast majority are income that you will not see back because the landlord was closed for three months, did not sell and was given a rent discount and you will not recover in the future ”, explained in a press conference Jorge Pigeon, VP of Capital Markets and Investor Relations of FUNO.

Complete article (Spanish)