Fibra Uno (Funo) and Axa Seguros joined forces to develop a mixed-use project, with commercial space, medical offices and a hospital, which will have an investment of 3,500 million pesos.

The real estate investment trust (Fibra) indicated that the mixed-use development called Portal Norte is located in Satélite, Naucalpan, State of Mexico.

The project contemplates a gross leasable area of 66 thousand square meters, of which 25,000 square meters will correspond to commercial space, 16 thousand square meters for medical offices and the remaining 25 thousand square meters for a hospital.

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As detailed by Funo, under this alliance a joint investment of 2,500 million pesos was agreed, an amount of which will contribute 80% of the resources and Axa the remaining 20%.

However, the remaining 1,000 million pesos of the total investment that is estimated to involve the new development of mixed uses was not made clear from what sources they will come.

Fibra Uno has bet on the reconversion of offices to hospitals, after the opportunity that is glimpsed with the coronavirus pandemic.

“For Funo it is gratifying to see that one of the world leaders in insurance and a large-scale investor in real estate worldwide, has chosen Funo as its strategic partner in Mexico to develop and operate real estate. Functioning as AXA Seguros, they leave the door open for new business opportunities in the future”, commented Gonzalo Robina, deputy general director of Fibra Uno, through the statement.

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Portal Norte will have LEED and EDGE certifications, with which efficiencies will be sought in the use of resources such as electricity and water, depending on the scheme that is most appropriate for each type of tenant.

One of the strategies that Fibra Uno, which owns and rents shopping centers, offices and industrial buildings, has followed after the effects of the pandemic on the occupation of corporate spaces is to convert these types of buildings into hospitals.

At the end of last year, Gonzalo Robina assured that they had approximately 110,000 square meters of offices to transform them into clinics and hospitals, since in this way they seek to address the lack of health infrastructure that became evident with the pandemic in Mexico.

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Original note