Nader Hayaux & Goebel has advised Grupo Murano in connection with the additional US$26 million senior secured credit facility provided by Fínamo, a Mexican fintech company dedicated to promoting financial growth through credit solutions, for the completion and start of operations of the Grand Island Cancún project.

The additional credit facility is collateralized by the real estate property known as Private Unit 3 of the Grand Island complex, through a security trust that required negotiating an amendment and restatement agreement with the lender and the trustee to serve as collateral for the financing.

During the last years, NHG has advised Grupo Murano in obtaining credit facilities for the constrution, development and start of operations of the different phases of the Grand Island Cancún project, which represents an aggregate amount of approx. US$300 million (MXN$5,500 million).

NHG advised Banorte, as lender, on a US$62 million billateral senior secured credit facility to a trust vehicle formed and controlled by Grupo Sordo Madaleno, a leading mexican architecture firm specialized in the development of crafting human-centered environments that promote connection and maintain deep focus on sustainability, for the construction and development of Ánima Village shopping center, at Los Cabos.

The credit facility is structured by two different credit facilities: the first credit facility of US$51 million is allocated to pay for the development and construction of Ánima Village shopping center, while the second credit facility of MXN$200 million is allocated to finance the Value Added Tax generated by the development and construction of the shopping center.

Ánima Village shopping center is a destination created by Grupo Sordo Madaleno which thinks about how communities of the future will be by creating a place that elevates senses and emotions and preserves the natural environment.

Grupo Sordo Madaleno is world-known mexican architecture firm with projects in Mexico, Paraguay, United States, Thailand, and Spain.

NHG advised the syndicate of lenders, including Sabadell, Santander, Bancomext, and Avantta Sentir Común, and hedge providers in connection with a US$135 million syndicated senior secured credit facility to Riviera Isla Maya, S.A. de C.V., a special purpose vehicle controlled by AB Living Group, leading firm specializing in health and well-being, luxury hospitality and premium projects with operations in Europe, United Arab Emirates and Mexico, for the construction and development of The St. Regis Costa Mujeres Resort (Hotel & Residences), in the Riviera Maya.

The proceeds of the facility will be used to finance construction costs for this landmark project to be managed by St. Regis Hotels & Resorts. The design and architecture of the project is led by Sordo Madaleno, an interdisciplinary architecture firm built on a 85-year foundation of experience dedicated to the pursuit of design excellence with deep focus on sustainability and human connection.

NHG advised Marriott on the sale of the “Puerto Vallarta Resort & Spa hotel”, which included real estate property, furniture, fixtures and equipment. Additionally, NHG acted as antitrust counsel securing approval of the transaction before the Mexican antitrust commission.

The transaction was implemented through an Asset Sale and Purchase Agreement subject to conditions precedent, along with the execution of several ancillary documents, including certain management documents whereby Marriott retained the management and operation of the hotel. The acquisition involved a structure in which one entity acquired the real estate property, while an operating company was created to take ownership of, among other things, the furniture, fixtures, and equipment within the hotel. A lease agreement for the real estate property was executed between these entities.

The transaction included an analysis of local and federal regulations related to the hotel operation permits and their transfer. Several documents were executed to ensure an appropriate transfer. Additionally, negotiations were conducted with both international and national suppliers to ensure the continuity of hotel operations and a seamless transition of services.

NHG advised SabCapital,. as lender in connection with a multiple-draw, secured credit facility to a Mexican trust controlled by Alignmex Capital Manager, a leading Mexican Real Estate development corporation with presence over the central regions of Mexico.

The proceeds of the facility will be used to prepay existing debt.

NHG advised the lenders, including Sabadell, SabCapital and Santander, and hedge providers in connection with a syndicated senior secured credit facility to a trust vehicle formed and controlled by Irongate, a leading full-service real estate firm specializing in the development of luxury branded residential and resort communities with operations in California, Colorado, Hawaii and Mexico.

The proceeds of the facility were used to refinance existing indebtedness of Irongate’s affiliates with Sabadell and Bancomext, and to pay project costs for the construction and development of the Four Seasons Resort Los Cabos at Costa Palmas.

The project will support the development of the East Cape at Los Cabos, a secluded oasis for luxury and high-end hospitality experiences.

Finally, the development of the Four Seasons Resort Los Cabos at Costa Palmas has aided the population of “La Ribera” community by employing and involving over 1,700 people in the project.

NHG advised Be Grand in an investment of MXN$1,530 million for the acquisition of a 50% participation in the beneficiary rights in a trust that has an indirect stake in the real estate portfolio known as Nomad, which consists of 6 multi-family buildings with residential, commercial and office areas. The portfolio comprises 3 buildings in Mexico City (Lago Alberto, Mitikah, Santa Fe) and 3 in Nuevo León (Garza Sada, La Capital, Latitud). The total market value of the Nomad portfolio is estimated at MXN$5,550 million.

NHG advised and represented Banorte, as lender, on the secured financing to Tortuga Royalty, as borrower, and RR Caribbean, as joint obligor, for the acquisition of the Hilton Cancún Mar Caribe hotel, located in Cancún, Quintana Roo. The parties to the loan agreement entered into a mortgage over the hotel and a pledge agreement with respect to the FF&E and OS&E to secure the loan facility and an administration and source of payment trust which will capture all the collection.

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.

NHG advised a syndicate of lenders, leaded by Scotiabank, in connection with the secured credit facility provided to a trust vehicle controlled by Industrial Realty Group (IRG). The facility will be used to support the acquisition by IRG of multiple industrial real estate assets located in three different states in Mexico.