New York, NY-- Paul Hastings LLP, a leading global law firm, announced today that it represented Goldman Sachs as global coordinator and other initial purchasers in connection with the initial international offering by Fibra Danhos of its trust certificates. Fibra Danhos is among a handful of Mexican Real Estate Investment Trusts (REITs) to be utilized in the wake of a comprehensive legal overhaul in Mexico that created the “FIBRA,” a new Mexican investment vehicle which bears many similarities to the U.S. REIT. Fibra Danhos was formed to develop, acquire and manage some of the most recognizable and iconic shopping centers and mixed use properties in Mexico.
The offering involved the issuance of approximately US$400 million in Fibra Danhos’ trust certificates publicly on the Mexican Stock Exchange and internationally pursuant to Rule 144A and Regulation S. The initial purchasers involved in this transaction were Goldman Sachs, Evercore and BBVA.
Our lawyers have the clear lead of any U.S. law firm in the FIBRA space, having been involved in eight of the ten transactions done to date. The recently created FIBRA investment vehicle provides a transparent and liquid vehicle to allow individual investors, as opposed to a limited number of families, to own and trade in real estate in Mexico. As demand for the FIBRA asset class increases, both inside Mexico and internationally, it is anticipated that this investment vehicle will be cloned by other emerging market countries and quickly become one of the most important publicly traded asset classes for investors interested in Latin American real estate.
Latin America practice partners Mike Fitzgerald and Arturo Carrillo led the Paul Hastings team, which also included associate Emily Winston and foreign associates Miguel de la Fuente Estrada and Pedro Vasconcellos.
Paul Hastings is a leading global law firm with offices in Asia, Europe, and the United States. We provide innovative legal solutions to financial institutions and Fortune 500 companies. Please visit www.paulhastings.com for more information.