Holland & Knight Represents Banco Santander in $45 Million Bridge Financing of Mexican Real Estate Development
MEXICO CITY (April 12, 2019)– Holland & Knight represented Banco Santander México, S.A., Institución de Banca Múltiple, Grupo Financiero Santander, as lender and agent in the $45 million bridge financing for the first stage of the "SADRO" real estate project in Puebla, Mexico. The borrower was Inmobiliaria Rivoli, S.A.P.I. de C.V., a subsidiary of local real estate developer HUCAPITAL. The deal closed on April 8.
The first stage of the project includes the construction of two luxury residential towers and the second stage includes a luxury hotel and a commercial mall, both with LEED (Leadership in Energy & Environmental Design) certificates granted by the U.S. Green Building Council.
The transaction was led by Mexico City-based Partner Alejandro Landa Thierry and Associate Aldo González Melo.