GlobeSt. – A partnership between Finsa and Walton Street Capital has purchased the Verde Northern Mexico Industrial Portfolio, a 35-property class A industrial portfolio in Mexico for $302 million.
National Geographic – Mexico City’s Galaxia subdivision was built in an era when the middle class aspiration was to own a certain type of single family house with room for a car. But as times and needs change, so does the city, morphing into a new landscape that reflects modern needs.
The Dragon Mart, a trade mart being built in the southeastern Mexican state of Quintana Roo with Chinese investment, has been ordered to shut down due to environmental damage caused by the project.
The project, located in the El Tucan district of the city of Benito Juarez, was ordered to close down following a visit by federal environmental inspectors who determined that developers had failed to comply with orders recently issued by officials, the director of the Profepa environmental protection agency, Guillermo Haro, said in a press conference.
Developer Real Estate Dragon Mart was building the trade mart in a jungle area that is home to wildlife and a coastal ecosystem that are “all protected” by environmental laws, Haro said.
The project “has affected the area’s biodiversity” and the “productive capacity of the forest lands,” the Profepa chief said.
The developers of the Dragon Mart project planned to build 722 residential units and 20 warehouses, as well as 3,000 spaces for businesses, on 204 hectares (503 acres).
Dragon Mart was designed to be an exhibition center for merchandise from China, providing an opportunity for companies from the Asian nation to make contacts in Mexico and Central America.
Sentido Comun – Fibra Uno agreed to acquire the Utah office building in the Reforma-Lomas zone for $67.9 million. The building has a rentable area of 16,348 square meters and 100% percent occupancy.
Sentido Comun – Consorcio Ara, a leading Mexican home builder, announced that it expects a 10 percent increase in revenue this year. It also predicts subsidized homes will account for 18 tp 20 percent of its total revenue.
El Mexicano -The Secretary of Labor and Social Welfare (STPS) and INFONAVIT have agreed to provide home loans to people with disabilities.
Sentido Comun – Grupo Hotelero Santa Fe, an operating company of hotels in Mexico, hopes add the operation of three new hotels and make another acquisition this year.
El Siglo de Torreon – Through the Twitter account of the deceased star Chespirito, his widow, actress Florinda Meza, announced she will sell his houses in Cancun and Mexico City.