Sentido Comun – Fiber Terrafina has completed the sale of $101 million in reserves of land and industrial buildings as part of its strategy to recycle its capital. The company will use most of the proceeds for the payment of debt.
Sentido Comun – The Ministry of Finance announced new tax incentives for companies involved in housing construction geared at reducing building costs and decreasing home prices.
Sentido Comun – Grupo Empresarial Angeles, the health, finance, communications and tourism business conglomerate of the Vazquez Rana family, said its subsidiary Real Group Tourism, or TSO, will invest $220 million to open four new hotels in Mexico in the next two years.
Sentido Comun – Grupo Aeroportuario del Centro Norte, or OMA, announced the opening of its first warehouse at Monterrey International Airport as part of an alliance with Vynmsa Real Estate Development.
Sentido Comun – Starwood Hotels & Resorts plans to open four new hotels in Mexico in the coming years. Three with the Aloft brand will be in Tijuana, Coatzacoalcos and Poza Rica in 2017.
Bloomberg – The first Mexican homebuilder to offer new shares since 2004 is testing investor appetite for an industry that imploded in $2.6 billion of defaults just two years ago. Servicios Corporativos Javer plans to raise as much as 3.5 billion pesos ($227 million) in an initial public offering after dodging the meltdown with a strategy of building housing developments in urban areas instead of far-flung suburbs.
Sentido Comun – Vesta Real Estate Corp., a company dedicated to the construction, management and leasing of warehouses and distribution centers, secured a loan for $47.5 million with Metropolitan Life Insurance Company, or Metlife, to fund its growth plans.
Sentido Comun – Sare Holding, a housing construction company that has suffered various restructurings, announced that construction will start on eight projects after it restructured a $32.9 million loan with HSBC.
Sentido Comun – Fibra Uno has completed the purchase of office property called portfolio Utah, for $67.9 million after receiving authorization from the Federal Competition Commission.
Sentido Comun – Fibra Uno announced that it agreed to spend $185 million to develop a mixed-use project in the City of Mexico. The company did not elaborate on the type of property.
Sentido Comun – MRP a specialized investment fund for buying land for shopping centers or commercial property, said that along with an unidentified partner, it is investing 614.6 million pesos $40.8 million) to build four shopping centers in Mexico City.
Sentido Comun – Medica Sur, an operator of hospitals and health services provider, said it will invest 800 million pesos ($53.2 million) to build a 22-story tower of clinics and medical offices as part of the Southern Medical City.
Sentido Comun – Fibra Macquarie, a specialized property management company, said it had acquired an industrial property, Class “A” Ridge Property Trust, n Monterrey for $ 58 million, excluding transaction costs and taxes.
Sentido Comun – Developer Vinte Viviendas Integrales gained a new loan and renewed another, which together provide resources of up to 435 million pesos ($29 million) that will be used to boost growth.
Sentido Comun – Banco Nacional de Mexico, or Banamex, signed an agreement with the Institute of National Housing Fund for Workers (Infonavit) to open 42 mortgage centers in 30 states to attend to members of the institute.
CNNExpansión – Grupo Gigante, which expanded from the supermarket business to real estate, is opening the presale of the third tower of its Miyana housing development in the heart of Mexico City’s Polanco.
Sentido Comun – The index of housing prices in Mexico developed by the state bank, Federal Mortgage Society, registered a nominal increase of 5.12 percent in the fourth quarter versus the same period last year.
Sentido Comun -Fibra Shop said it will invest 215 million pesos ($14.4 million) in the expansion of four shopping centers in Irapuato, Cancun, Queretaro and Texcocol.
Vanguardia – After the New York Times included former Oaxaca Gov. José Murat on a list that indicated he owns properties in exclusive resorts in the United States, he denied the report and asked the paper to clarify.
Consumer Affairs – Buying a timeshare is no problem at all. But as consumers sometimes learn to their dismay, the timeshare payments add up and they’re not often able to use the facility as frequently as they had hoped.
Bingo, along comes a friendly voice on the phone, offering to sell the unit for a small fee. The hitch? Unfortunately, what happens next is that the consumer wires the money and the friendly voice disappears.