Sentido Comun – Terrafina Fiber has completed the purchase of $59.4 million of 10 industrial properties in the center and north of the country.
Sentido Comun – HD Fiber has agreed to buy for 240.1 million pesos ($14.1 million) the Point Mall Plaza in Los Mochis, in the state of Sinaloa.
Sentido Comun – Macquarie Fiber reached an agreement to acquire for $21.7 million two industrial properties and adjacent land in Ciudad Juarez.
Sentido Comun – Promecap Development Capital, an investment fund that buys company assets or shares and provides financing, has received government approval to proceed with its plan to acquire a portfolio of Quintana Roo property.
Reuters – It might not look its best after a visit a few days ago by Hurricane Patricia, but this is Costa Careyes, home to some of the world’s most exclusive holiday homes. The Mexican playground of the rich and famous has been ravaged by the storm.
Sentido Comun – Three skyscrapers apparent along Paseo de la Reforma give the capital a new aura of modernity and development. Soon, in that small urban space that some are calling the Little Mexican Manhattan, a new 50-story tower will be erected.
Sentido Comun – The real estate company controlled by the wealthiest entrepreneur Mexico, Maria Asuncion Aramburuzabala, won the legal battle that pitted a group of Polanco neighbors who opposed a housing project in the capital .
Counter Punch – Todos Santos on the Baja California peninsula is getting a mega-development called Tres Santos to build 4,472 homes over twenty-five years, leading to an estimated indirect population growth of more than 60,000 new residents, quite a leap for a town whose population in 2010 hovered just above 5,000.
Sentido Comun – Fibra Macquarie closed the purchase of 10 industrial properties for $105 million. The properties are located in f Monterrey, Tijuana, Reynosa, Saltillo and Ciudad Juarez and currently have an occupancy rate of 93.9 percent.
Sentido Comun – Fibra MTY completed the acquisition of Catacha property after investing 41 million pesos ($2.5 million). The building is in Santa Catarina, in the state of Nuevo Leon.
Sentido Comun – Fibra Macquarie reached an agreement to acquire for $30.3 million eight industrial properties in Monterrey to continue with its program of investment and expansion.
TeleSur – A huge battle broke out in eastern Mexico City over an empty lot that was illegally trespassed by at least 200 families claiming to homeless.
By Nancy Cordes / CBS
No one disputes that the current U.S. Embassy in Mexico City is crowded, outdated and needs to be replaced. So four years ago the State Department bought a 15 acre plot in a former industrial district for $120 million.
But there was a catch: the site had housed a Colgate-Palmolive factory for decades, which left behind hazardous waste. Colgate has been cleaning the site but it’s been three and a half years and it’s still not ready for construction.
It is an embassy that was supposed to cost $577 million to build, but the construction estimate has gone up by one third — and the State Department hasn’t even broken ground yet.
“It’s a bit of a fiasco,” said Rep. Jason Chaffetz, R-Utah.
AZFamily – More homeowners are coming forward, raising concerns about property they purchased in Rocky Point, Mexico. It’s property they say can be taken away.
Sentido Comun – Antonio del Valle, the seventh of Mexico’s wealthiest businessman, plans to build a second real estate project in Mexico City that will include a mall, hotel, offices and apartments.
DeZeen – Zaha Hadid Architects has unveiled plans to build a high-density housing development in Monterrey despite having been asked to design a series of high-rise towers.
Bloomberg – Mexican billionaire Carlos Slim put his Manhattan townhouse on the market for $80 million, almost double what he paid for the Fifth Avenue property in 2010. A deal at the asking price would be the most expensive ever for a townhouse in New York City.
RTCC – In an unprecedented move, the Mexican government has drawn up a strategy to clear slums at risk of climate change-induced natural disasters. To Maria Jose Veramendi, an attorney at environmental law group AIDA Americas, it is the first time climate change has been used to justify slum clearance.
News Au – Architects in Mexico City have come up with an ambitious solution to its strict building regulations and designed a massive 300 metre deep inverted skyscraper. Shaped like an upside down pyramid, the building will accommodate 5,000 people and offer retail, housing and cultural attractions with a huge glass ceiling above to provide natural light.
Bloomberg – Capital Reforma is part of a decade-long building spree that threatens to leave Mexico City with a large surplus of office space as the fall in oil prices undermines the economy. The new buildings, repaved streets and gardens have revitalized this historic financial district, bisected by Paseo de la Reforma. Now investors in the new real estate investment trusts that financed the towers face the prospect of higher vacancies and lower returns.