By: Steven Ongenaet
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FibraHotel announces the future acquisition of the Fiesta Americana Hacienda Galindo hotel
Deutsche Bank México, S.A., Institución de Banca Múltiple, División Fiduciaria, as trustee under the Mexican Irrevocable Real Estate Investment Trust Agreement number F/1596, specialized in business-class hotels in Mexico (“FibraHotel”) executed a lease agreement with Grupo Posadas, and a real estate purchase and sale agreement subject to conditions precedent, to acquire a hotel in San Juan del Río, Querétaro.
NHG represented FibraHotel, the first real estate investment trust (REIT) specialized in business-class hotels, in the acquisition of a Fiesta Americana hotel, located in San Juan del Río Querétaro, subject to obtaining certain permits and authorizations. The deal was executed by and between FibraHotel and Grupo Posadas and according to its terms, Grupo Posadas will receive its payment at the beginning of 2020 once all the conditions set forth in the agreements are fulfilled. The transaction involved a lease agreement in order for FibraHotel to initiate operations and refurbishments before the sale is consummated.