Company Overview

Fibra Danhos (traded in the U.S. on the OTC market as GRFFF and in Mexico as DANHOS13) is a Mexican real estate investment trust (FIBRA) focused on the ownership, development, leasing, and management of high-quality commercial real estate assets. The company operates primarily in the retail and mixed-use real estate industries, with additional exposure to office and hospitality properties. Its core revenue is generated from long-term rental income derived from shopping centers, lifestyle centers, mixed-use developments, office buildings, and hotels.

The company is recognized for its emphasis on large-scale, premium assets located in dense urban areas with strong demographic profiles. Fibra Danhos differentiates itself through an integrated model that combines in-house development, property management, and long-term asset ownership. Founded in 2013 by the Danhos Group, a real estate development firm with decades of operating history in Mexico, Fibra Danhos was established to institutionalize and scale the group’s stabilized income-producing assets through the public markets.

Business Operations

Fibra Danhos operates through several core business segments, primarily Retail Properties, Mixed-Use Developments, Office Properties, and Hospitality Assets. The retail segment, which includes shopping malls and lifestyle centers, represents the majority of net operating income and is anchored by long-term leases with national and international tenants. Mixed-use properties integrate retail, office, and sometimes residential components within a single development, enhancing tenant diversity and traffic flow.

Operations are concentrated in Mexico and are vertically integrated, with Fibra Danhos overseeing development, leasing, marketing, and ongoing asset management. The trust controls a portfolio of landmark properties and maintains strategic relationships with major commercial tenants, financial institutions, and construction partners. Its assets are held through various property-level subsidiaries fully controlled by the trust, with no material joint ventures reported as core revenue drivers based on publicly available disclosures.

Strategic Position & Investments

Fibra Danhos’ strategy centers on disciplined growth through selective development, expansion of existing properties, and the acquisition of stabilized, income-generating assets in prime locations. The company prioritizes balance sheet strength, conservative leverage, and long-term lease structures to ensure stable cash flows across economic cycles. Development projects are typically executed on land already owned by the trust, reducing acquisition risk and improving projected returns.

Key investments include continued capital deployment into flagship mixed-use developments and the modernization or expansion of existing retail assets to enhance tenant mix and foot traffic. Fibra Danhos has also invested in hospitality assets integrated within its mixed-use portfolio, supporting diversification. Its strategic focus remains aligned with urban densification trends and the growing demand for experiential retail and integrated commercial spaces. No material exposure to speculative or early-stage technologies has been disclosed in public filings.

Geographic Footprint

Fibra Danhos’ operations are entirely concentrated in Mexico, with a strong presence in Mexico City and the Metropolitan Area, which represents the core of its asset base and revenue generation. Additional properties are located in other major urban centers, including State of Mexico, Puebla, and Querétaro, providing regional diversification within the country.

While the trust does not operate internationally, its properties serve both domestic and international tenants, including global retail brands and multinational corporations. The geographic focus reflects a deliberate strategy to concentrate capital in Mexico’s most economically resilient and densely populated markets, where long-term demand for high-quality commercial real estate remains strong.

Leadership & Governance

Fibra Danhos was founded by members of the Danhos family, who continue to play a central role in its governance and strategic direction. The leadership team emphasizes long-term value creation, conservative financial management, and active asset oversight. Corporate governance follows the regulatory framework applicable to Mexican FIBRAs, with oversight from an independent technical committee.

Key executives include:

• Salvador Daniel Kabbaz Silverstein – Chief Executive Officer
• Jorge Gamboa de Buen – Chief Financial Officer
• Eduardo Danhos Gómez – Chairman of the Technical Committee

The leadership philosophy centers on maintaining asset quality, disciplined capital allocation, and sustainable distributions to certificate holders, consistent with the trust’s mandate and public disclosures.