CHICAGO—Officials from Equity International, a privately-held investor that helps build real estate companies outside the US, say they and several partners have just closed a new investment in Grupo Acosta Verde, a family-owned developer, owner and manager of shopping centers in Mexico.
Funds managed by BlackRock and Altan Capital joined Chicago-based EI in the endeavor. EI's Tom Heneghan and Cliff Payne will join the company's board of directors.
Since 1992, the Monterrey-based Acosta Verde has developed 35 retail properties and currently manages 26 shopping centers, of which it owns 11. This portfolio comprises about 1.7 million square feet in 15 states. Acosta Verde created the Sendero shopping center brand and targets middle-class consumers. Sendero properties have a uniform design and key anchor relationships with Soriana, the second largest Mexican retailer, and Cinépolis, the second largest movie theater chain in the world.
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Brian J. Rogal
Brian J. Rogal is a Chicago-based freelance writer with years of experience as an investigative reporter and editor, most notably at The Chicago Reporter, where he concentrated on housing issues. He also has written extensively on alternative energy and the payments card industry for national trade publications.
