González Calvillo, Sánchez Mejorada and Mayer Brown advise in real estate transaction

On January 24th, G Accion, one of Mexico's preeminent real estate developers, has succesfully closed one of the most important real estate transactions in Mexico. G Acción paid in excess of US$110 million to acquire approximately 317,000 square meters of real estate portfolio owned by U.S. based Hines consisting of (i) the Torre del Angel building, a 33,000 square meter "AAA" office building located in the heart of Paseo de la Reforma, in Mexico City, (ii) approximately 181,000 square meters of industrial park lands and facilities located in the State of Queretaro, and (iii) an industrial park in Guadalajara with approximately 105,000 square meters.

The purchase was arranged in three separate transactions pursuant to which G Accion joint ventured with different partners. For the Torre del Angel tranche, G Accion purchased same with a group of private Mexican investors. For the Queretaro portfolio, G Accion joint ventured with the Peabody Group, an investment fund owned by JP Morgan Chase and the O'Connor Group. For the purchase of the Guadalajara portfolio, G Accion's partners were AMB Property Corporation.

G Accion's legal team was headed by its in-house general counsel, with the assistance and participation of partner Gonzalo Vargas and associate Adriana Durán of the Law Firm González Calvillo, S.C.. Hines was represented in Mexico by partner Rodrigo Sánchez Mejorada and associate Paola Salgado from the Law Firm Sánchez Mejorada, Velasco y Valencia, S.C., in collaboration with their U.S. counsel, partner Marvin Katz of Mayer Brown Rowe & Maw.