R eal Estate

Our Firm has developed an unrivalled expertise and experience in the real estate sector, advising domestic and international real estate developers, leisure and hospitality companies, sector specific financial sponsors, commercial and investment banks, REITs and construction companies, on complex projects and transactions, including mergers and acquisitions, portfolio acquisitions, joint ventures, fund-formations, financings, public offerings and restructurings.

Over the years we have worked on some of the largest real estate transactions in Mexico, as well as “first of their kind” public offerings and fund structures within the real estate sector.  Our expertise encompasses projects within all asset classes, including commercial, retail and industrial real estate, as well as leisure and hospitality.

Below is a list (which is organized in alphabetical order based on our client’s name) of selected matters which is intended to give a brief indication of our experience in the real estate sector:

• Counsel to Arco Areas Comerciales, S.A. de C.V., an affiliate of Grupo Coppel, in the acquisition from Kimco Realty Corporation of four retail and stabilized centers located in the northern states of Mexico.
• Counsel to Arenas Encantadas, S.A. de C.V. in the design and implementation of a residential and tourism development in the coasts of Huatulco, Oaxaca, México.
• Counsel to Best Buy Co., Inc. in the negotiation and implementation of long-term leases for its first two stores in Mexico.
• Counsel to Black Creek Capital in the structuring and implementation of a real estate fund focused in residential properties in Mexico in which Black Creek will participate as manager and partner with Canada´s Public Sector Pension Investment Board.
• Counsel to Cascade Investment LLC, the private investment arm of William Gates III, in the acquisition of the Four Seasons Resort Punta Mita and an adjacent 48-acre parcel of development land from Strategic Hotels & Resorts, Inc. for an undisclosed amount.
• Counsel to Colgate Palmolive in different environmental, land use, zoning and entitlement aspects of the demolition of their industrial facilities and headquarters in Mexico City, in preparation for their upcoming transfer to the US Government for the re-development of the site as the new US Embassy in Mexico.
• Counsel to Discovery Americas 1, LP in the formation of Umbral Capital and the development of housing projects throughout Mexico.
• Counsel to Exclusive Resorts, LLC, a U.S. luxury residences destination company, in the financing for the acquisition of over 30 real properties in México, including Los Cabos and Puerto Vallarta.
• Counsel to Granite Real Estate Investment Trust in the sale of nine industrial properties to a subsidiary of Magna International Inc.
• Counsel to Grupo Coppel in the acquisition of a retail portfolio of 4 shopping centers.
• Counsel to Grupo Inveravante in the review, structuring, negotiation and implementation, as applicable, of all real estate projects being considered by Grupo Inveravante and its affiliates throughout Mexico in the industrial, commercial and tourism sectors.
• Counsel to Grupo Pegaso, S.A. de C.V. in the purchase of a real estate property located in Punta Mita, State of Nayarit, for the development of a luxury hotel and in the negotiation of the construction and operating agreements related thereto.
• Counsel to Hoteles Gran Clase, S.A. de C.V., a Mexican entity formed by a group of Mexican real estate investors, in the design of a complex ownership structure for the further contracting of management services as well as the negotiation of franchise, management agreements in connection with the Intercontinental Hotel and two luxury restaurants in Santa Fe, a premier corporate, commercial and residential district located in Mexico City.
• Counsel to Impulsora Mexicana de Desarrollos Inmobiliarios, a major Mexican real estate developer and its partners, in its on-going negotiations for the creation of a joint venture with Temasek Holdings, a major investment fund from Singapore, the purpose of which is to acquire land, develop infrastructure and urbanization thereon and commercialize developed real properties for residential and commercial purposes within the Mexican territory.
• Counsel to Kerzner International in the acquisition of the luxury hotel, The One & Only Palmilla in Los Cabos, Mexico.
• Counsel to Macquarie Mexican REIT in the acquisition of its initial portfolio in turn composed of two real estate portfolios with a total of 244 industrial properties located in 21 cities and 15 states within Mexico, financed through 4 different credit lines, provided by 3 different groups of creditors, as well as the global initial public offer of certificates known as CBFIs. The value of this transaction was approximately US$1.5 billion dollars, which represented the biggest real estate transaction in the history of Mexico until the date of its closing.
• Counsel to Macquarie Mexican REIT in the simultaneous acquisition of City Shops del Valle, a 15,914 square meter retail center located in the Mexico City metropolitan area and financing as well as repayment of existing debt.
• Counsel to Macquarie Mexican REIT in the acquisition of 50% interest in a portfolio of nine retail properties and additional land from Kimco Realty Corporation (Kimco) including the simultaneous joint venture formation, acquisition and financing, as well as repayment of existing debt.
• Counsel to Macquarie México Real Estate Management / Macquarie Mexican REIT – FIBRA Macquarie México in the acquisition by FIBRAMQ of six real estate properties from a group of investors led by Grupo Inmobiliario Carr, S.A.P.I. de C.V. and Impulsora de Destinos Urbanos, S.A. de C.V.
• Counsel to Macquarie Mexican REIT in the acquisition of an industrial property consisting in two industrial buildings with an area of 59,200 square meters from Ridge Property Trust II.
• Counsel to Macquarie Mexican REIT in the acquisition of an eight-property industrial portfolio located in the state of Nuevo León, México with an area of 40,700 square meters from Corporativo Industrial Nexxus, S.A. de C.V., and Desarrollos Industriales Nexxus, S.A. de C.V.
• Counsel to Macquarie Mexican REIT in the acquisition of 15 industrial properties from certain entities owned, directly or indirectly, by DCT Industrial Trust Inc.
• Counsel to Macquarie Mexican REIT in the acquisition of a portfolio of 6 mixed used properties (retail and offices) located in Mexico City, the State of Guanajuato and the State of Mexico from Impulsora de Desarrollos Urbanos, S.A. de C.V., and its co-investors in each property.
• Counsel to Mexico Retail Properties (MRP) in the sale of 49 retail properties, their corresponding management platform and other related assets, to Fibra Uno, as purchaser. This was the largest real estate transaction in the history of Mexico.
• Counsel to Mexico Retail Properties (MRP) in documenting its joint venture vehicle with an investor group led by Mr. Moises Farca for the development of a mixed used real estate project in Mexico City which will include a shopping center, office buildings and hotel.
• Counsel to MIRA Companies (an affiliate of Black Creek Capital) in certain real estate and condominium related aspects of its mixed use development known as “Nuevo Sur” in Monterrey, Nuevo León.
• Counsel to MIRA Companies in the negotiation and execution of three option agreements currently in place with different parties in Mexico City, for the potential re-development of such properties into mixed use developments.
• Counsel to MIRA companies in the sale of space to City Express for the construction of a City Express hotel.
• Counsel to MIRA companies and Gran Ciudad in the acquisition from Grupo Jorisa of approximately 21,954 square meters of land in Mexico City and implementation of a co-development agreement between the purchasers for the development of residential and multifamily rental housing buildings.
• Counsel to Nucor on the acquisition of industrial land in Monterrey, Nuevo León, Mexico for the establishment of an industrial plant.
• Counsel to Paradise Hotels and Resorts in the operations and sale of the Las Ventanas del Paraiso hotel, located in Los Cabos.
• Counsel to Planigrupo Walton CKD in the acquisition of a retail portfolio of 9 shopping centers from Kimco Realty and GE Real Estate, and follow-up acquisitions of a retail portfolio of additional 9 shopping centers and of an additional retail portfolio of 4 shopping centers.
• Counsel to Prologis in the creation and initial public offering of FIBRA Prologis in the amount of US$620 million (the third largest FIBRA IPO to this date) which involved the roll-up of a real estate portfolio comprised of 177 Class A industrial properties and a revolving loan lead by Citigroup.
• Counsel to Prudential Real Estate Investors Latin America (PREI) in the IPO and FIBRA formation known as Terrafina (the second largest IPO FIBRA until this date) in the amount of US$650 million that included the real estate roll-up of 132 developed properties and 14 land reserve parcels located in 16 states of Mexico and a revolving loan lead by Citigroup and a refinancing of assets granted by JP Morgan Chase.
• Counsel to Prudential Real Estate Investors (PREI) in all legal aspects for the sale to Fibra Uno of 12 shopping centers and 9 expansion properties and the assignment in favor Fibra Uno of trust beneficiary rights corresponding to 12 shopping centers and the transfer of property rights corresponding to 9 raw land expansion properties.
• Counsel to Prudential Real Estate Investors in the acquisition of the landmark office building known as “Centro Bancomer” in Coyoacan, Mexico, and its lease back to BBVA Bancomer.
• Counsel to Terrafina REIT (Prudential Real Estate Investors) in the acquisition of a portfolio of 84 industrial properties, through one of the largest financing structures for the acquisition of real properties in the history of Mexico.
• Counsel to Terrafina Fibra in the acquisition of an industrial portfolio of more than 100 properties from American Industries and Kimco.
• Counsel to Walton Street Capital Mexico and Finsa Corporativo in the acquisition from Inmobiliaria Testarrosa, S.A. de C.V., of an industrial portfolio comprised by 10 industrial buildings with a total leasing area of approximately 2,360,000 square feet located in Santa Catarina, Nuevo León, México and the execution of a non-recourse secured credit facility provided by GE Real Estate México for the financing of the purchase price.
• Counsel to The Cadillac Fairview Corporation Limited in its acquisition of a 25% interest, in a real estate development joint venture with a consortium of Mexican investors, led by Grupo Sordo Madaleno, an internationally recognized architecture and real estate development firm.