Holland & Knight Represents Real Estate Developer Group in Acquisition of Mexico's Promociones Turisticas AV
MEXICO CITY (July 28, 2023) – Holland & Knight advised real estate developers American Leisure Properties LP, Alimentos GND S.A. de C.V. and Inmobiliaria Danmada II S.A. de C.V. in the acquisition of the total capital stock of Promociones Turisticas AV S.A.P.I. de C.V. (PTAV). The transaction closed on July 17.
The group of developers specialize in the tourism sector, which involves the strategic acquisition, design and construction of properties in popular tourist destinations that cater to the needs of travelers. The developers aim to create appealing and comfortable accommodations, such as hotels, resorts, vacation rentals or other hospitality establishments, that align with the preferences and desires of the tourist market.
PTAV is a Mexican holding company that manages diverse subsidiaries across multiple industries, including the tourism sector in Mexico. PTAV is the holding company and sole operator of the company Marina Costa Baja S.A. de C.V., which operates Marina Costa Baja, located at Puerta de Cortez in La Paz, Baja California Sur. The marina uses state-of-the-art technology and has a capacity for 250 vessels ranging from 30 up to 225 feet and dry boat storage with 50 slots for vessels up to 35 feet. It serves as the gateway to the Sea of Cortez and is considered one of the best marinas in the entire American continent.
Holland & Knight Partner Xavier Mangino, Senior Counsel Elena Ibarrola, Associates Julia Segovia, Alejandro Briceño and Cristobal Ortiz and Law Clerk Jose Gabriel Mangino led the firm's representation of the American Leisure Properties, Alimentos GND and Inmobiliaria Danmada II.