NHG advised Advance Real Estate

NHG advised Advance Real Estate, through several subsidiaries, in connection with the sale of its LUMA industrial real estate portfolio to Thor Urbana. The industrial portfolio consists of 11 properties and 2 land reserves in Mexico with a total gross leasable area of 335,000 m2.

The transaction required a complex property restructure to reverse the assets from one security trust with CIBanco and two project trusts with Actinver, before transferring the assets to the purchaser.

Also, some assets held in the security trust with CIBanco were securing a syndicated senior credit facility hired by Advance Real Estate with MetLife and Brighthouse under NY law, which was partially prepaid with the proceeds of the sale. Therefore, the property restructure required simultaneous negotiations with existing lenders, trustees and the purchaser.