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HSBC Divests $90M Properties in Sale-Leaseback

MEXICO CITY-The bank sold 90 bank branches and corporate offices to local investors in a sale-leaseback deal that allows the firm to rid itself of owned property in the country.

By Robert Carr | Updated on September 06, 2011

MEXICO CITY-HSBC has sold 90 bank branches and corporate offices in Mexico for $90 million in a sale-leaseback deal. Eight private Mexican investors bought the properties, though HSBC will continue to lease the sites.

Jones Lang LaSalle represented the bank in the sale. Rodolfo Albin, an SVP with JLL, tells GlobeSt.com that the sites were leftovers from when London-based HSBC bought Grupo Financiero Bital, the country’s third largest retail bank, for $1.1 billion in 2002.

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