MEXICO CITY—Canada's Ivanhoé Cambridge says it has formed a new partnership with which it will invest more than $500 million in Mexico. The partnership is with Black Creek Group, a real estate private equity firm with extensive experience sponsoring real estate companies in Mexico.
Ivanhoé Cambridge, together with Black Creek, will invest in the development of mixed-use urban communities in major markets in Mexico including, but not limited to, Mexico City, Monterrey and Guadalajara by way of MIRA, a fully-integrated real estate development platform.
Ivanhoé Cambridge's first investment by way of MIRA of more than $100 million in assets will be used for a residential development project located in the Mexico City borough of Cuajimalpa, adjacent to the Santa Fe business district. The project consists of two residential condominium buildings with approximately 500,000 square feet of net saleable area comprising 479 residential units.
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David Phillips
David Phillips is a Chicago-based freelance writer and consultant with more than 20 years experience in business and community news. He also has extensive reporting experience in the food manufacturing industry for national trade publications.
