Real estate in Mexico

Creel, García-Cuéllar, Aiza y Enríquez, S.C.

Undoubtedly one of Mexico’s predominant forces in real estate practice, Creel, García-Cuéllar, Aiza y Enríquez, S.C. garners praise for delivering the ‘best services in the industry with the peace of mind that all aspects of the operation have been reviewed and impeccably attended to’. The practice is highly experienced in regulatory aspects of direct and structured investments, strategic property acquisitions in the industrial, retail, commercial, tourism & leisure, residential and urban sectors, as well as in development, management and operation of real estate projects. It advises multinational and domestic developers, promoters, tourism and hospitality companies, and investors – including real estate funds, Mexican CKDs, CERPIs and FIBRAs. The team is co-led by head of the firm’s Monterrey office, Francisco Montalvo, who represents multinational companies and domestic conglomerates on the acquisition and development of tourism, industrial and residential developments,  and on the acquisition and divestiture of companies and assets; and Carlos de Icaza in Mexico City, where he leads the real estate and environmental practice group, and has acted or led on numerous innovative real estate transactions, generally representing industrial groups, real estate investment trusts, development companies or private equity funds. Also in Mexico City, Carlos del Río focuses on M&A, private equity and real estate (and also leads the firm’s corporate social responsibility and pro bono program); while in Monterrey, Badir Treviño-Mohamed‘s activity centres on advising real estate developers and investors (including international real estate funds, Mexican CKDs and FIBRAs), on the Mexican legal and regulatory aspects of direct or structured investments in, or strategic acquisitions of, real estate across all asset types and market segments. The quartet of partners can call on a powerful second line comprising counsel Valentina Villa (who is also director of D&I at the firm), whose focus is on real estate, M&A and banking & finance; Alejandro Castelló, who specialises in real estate and environmental law; Carlos Yamamoto, who specialises in real estate and transactional matters; and Alfonso Pulido who advises private and public funds, and FIBRAS, on the acquisition of industrial and commercial real estate portfolios, as well as counselling clients on the structuring of real estate developments and handling the administrative requirements to obtain licenses, permits and authorisations. The latter three were all promoted to counsel in August 2022. Also noted, senior associates Brenda Elizondo and Hugo J García de la Garza.

Practice head(s):

Francisco Montalvo; Carlos de Icaza


‘Excellent quality of  lawyers and response times.

‘When we retain Creel in a real estate matter, we are certain that we are receiving the best services in the industry with the peace of mind that all aspects of the operation have been reviewed and impeccably attended to.

‘Carlos del Río, Moises González Arroyo and Alfonso Pulido are exceptional attorneys who provide personalized attention. They have formed a multidisciplinary team that understands the needs of the client and knows the needs of real estate operations in Mexico.

Key clients

MIRA Companies

The Cadillac Fairview Corporation

O’Connor Capital Partners

FIBRA Prologis

FIBRA Storage

Apex Tool Group Manufacturing México



Digital Colony

Work highlights

  • Advised Cadillac Fairview Corporation on the initial public offering of FIBRA Soma and its acquisition of 13 different real estate projects located throughout Mexico’s main cities, with an approximate gross leasable area of 684,392 square meters.
  • Advised FIBRA Prologis on the acquisition of 14 industrial properties, 11 of which are located in Tijuana, one in San Luis Potosi, one in Queretaro and one in Silao, from Artha Capital by means of an assignment of beneficiary trust rights for the amount of $160m.
  • Advised  Finsa regarding the negotiation and preparation of multiple documents related to the acquisition of 12 industrial buildings and three plots of land located in Nuevo Laredo, Tamaulipas from Parque Industrial Nuevo Laredo 2000.

Greenberg Traurig, S.C.

A stellar roster of clients including property developers, lenders, investment managers and private equity funds (among others), to mention some, turn to Greenberg Traurig, S.C. for assistance in real estate matters. The compact but nevertheless ‘first-class team‘ (‘very efficient, always responding on time and with very good know-how‘), is highly experienced in acquisition and sale of real estate portfolios and real estate developments, the stabilization of projects, and loan restructurings, joint ventures, and lease agreements. The practice is led by highly respected practitioner Antonio Diez De Bonilla Martinez who is well known for his expertise in negotiations, the closing of sales and purchases, financing, construction, development and the operation of residential, commercial, mixed use, industrial and resort projects. Fellow partner Gerardo Carrillo Valadez is also a key player in the practice; he has a strong focus on real estate development and M&A transactions and demonstrates particular niche expertise with regard to mixed-use and multifamily properties. Completing the core team are senior associates Roberto Guerrero C, who handles all types of transactions related to the development and financing of real estate projects; and Julio Sardina, who focuses on US-Mexico cross-border real estate matters, particularly the legal aspects of structuring and financing of residential, commercial, industrial and hospitality development projects.

Practice head(s):

Antonio Diez de Bonilla Martinez


‘A first-class team, always very attentive and with very fast responses.

‘The big difference is that the Partner who offers to assist you actually does it personally and not through countless junior lawyers who only come in to bill hours. The partner who assisted me is Antonio Diez de Bonilla who did an outstanding job.

‘The team with which we deal within GT is very efficient, always responding on time and with very good know-how. Always looking business-oriented solutions. Highlight Antonio Diez de Bonilla, Julio Sardina and Diego Gonzalez.

Key clients


Apple Leisure Group

Barclays Bank


Desarrolladora del Parque

Escuela Bancaria y Comercial

Fibra Inn

Fibra Macquarie


Grupo Hotelero Prisma

Grupo Lar

Hyatt Hotels Corporation

ICM Asset Management

Industrial Commercial Properties

Industrial Realty Group


Medica Sur

Mercado Libre


Mira Companies

Nomad Living (CIM/Compass)


PGIM Real Estate

Playa Hotels & Resorts

Prosperity Industrial Real Estate

Proximity Parks

RLH Properties

Room Mate Hotels/ Be Mate

SBE Group

Seris Retail Holdings (a Washington Pension Fund entity)

Sura Asset Management

Uber Technologies Mexico

Walton Street Capital

Work highlights

  • Advised Grupo Hotelero Prisma on the sale of its property portfolio to Aimbridge Group Holdings,  which as a result now manages 42 properties with more than 7,500 rooms throughout Mexico; the transaction implied the payment of 90% of the purchase price in exchange for shares in an Aimbridge affiliate.
  • Advised PGIM on the development, stabilzation, and sale of a beneficiary interest in the first phase of an industrial park in Tijuana, Mexico; the transaction also included the acquisition, development, and stabilization of Phase II of the same industrial park.

Mijares, Angoitia, Cortés y Fuentes S.C.

A true force to be reckoned with, Mijares, Angoitia, Cortés y Fuentes S.C. has broad expertise in all segments of the real estate market, with experience in regulatory matters, M&A, real estate finance, environmental and tax law. The ‘extraordinary‘ team advises real estate investors, developers, and construction companies on commercial, industrial, residential, and tourism developments on transactional and regulatory matters, while in conjunction with the banking and finance practice, it also undertakes real estate financing projects, as well as asset and mortgage securitisation structures. The practice (which is ‘always adding value‘) is co-led by the highly regarded Lorenza Langarica, who is deeply experienced in structured financings, corporate matters and M&A as regards the real estate and energy sectors, along with joint ventures and asset acquisitions; and Eugenio Macouzet, who focuses on advising hospitality companies and investors on the legal and regulatory aspects of real estate investments – primarily in the commercial, residential, hospitality and industrial sectors. The experienced Manuel Echave has long been a popular choice for developers and promoters to manage financings for the purchase or construction of real estate projects, and he is one of a number of senior corporate and finance lawyers who participate in the sector; founding partner Patricio Trad, for instance, is also frequently seen in the sector. The practice can also count on the capacity and know how of a line of younger partners including: Ignacio Armida (mergers, acquisitions, joint ventures and strategic partnerships; infrastructure project finance); and Carlos Jiménez (portfolio acquisitions and financing transactions, particularly in relation to FIBRAs), and Francisco Glennie (M&A, financings, general corporate practice), who both made partner in July 2021. At associate level, Juan Pablo Betancourt (corporate, financings and transactional matters); Armando Elsharkawy (as regards the tax aspects of real estate transactions) and Imanol Sánchez-Mújica (real estate development), who is currently undertaking his LLM, all engage in real estate-related matters.and senior associate Carlos Jiménez, who has growing knowledge of portfolio acquisitions and has represented several FIBRAs in financing transactions, are other key figures in the department.

Practice head(s):

Lorenza Langarica; Eugenio Macouzet


‘The real estate market is dynamic and must be adapted to the needs of clients, therefore, lawyers who have this specialty must be aware of market practices and always updated in terms of regulations on the matter. Mijares is a firm whose lawyers have both characteristics.

‘The technical capacity of the Mijares is outstanding, in addition to always being available to support the operation and provide timely follow-up with the clients and the counterparts.

‘Our experience with MACF was extraordinary,  they were permanently taking care of our interests while remaining practical and always achieving the objective on time. Without their help, we would not have been able to complete the operation in the estimated time, because it was very tight and thanks to the availability of this extraordinary team always adding value, it was possible.

‘Lorenza Langarica O’Hea whose comments and involvement have always been of great value, seeking to conclude the operation while remaining practical.  In addition to responding on time and with great availability.

‘ They are always available at any time and are very efficient in their response, they are also very cautious in their recommendations and are thinking of the customer. Ignacio Armida and Armando Elsharkawy, are highly recommended.

Key clients

Prosperity Real Estate

Be Grand

Carr Capital

Hyatt Hotels Corporation

Fibra Mty

Grupo Xtra

Parks Desarrolladora

Elevadores Schindler


Consorcio Ara

Fibra HD


MetLife (Metropolitan Life Insurance)

Work highlights

  • Advised Carr Capital, a Mexico City-based family office, and Be Grand, a leading property developer, on a JV partnership with Grupo Empresarial Corman; the partnership involved the negotiation, drafting and review of a development trust agreement, property purchase and sale agreement, for the construction and development of the real estate project called “Be Grand Country”, located in Colonia Country Club, in the City of Guadalajara.
  • Advised Grupo Xtra, together with GFG Securites as financial advisors, on the negotiation and execution of the sixth amendment to the Loan Agreements executed by Canopo and Valiant, as borrowers and Scotiabank and Bank of Nova Scotia, as lenders.
  • Advised the international management, franchising, and hotel owner Hyatt Hotels Corporation on obtaining merger control clearance for its acquisition of Apple Leisure Group, a company that offers mainly brand business services to hotel owners.

Nader, Hayaux y Goebel, SC

Demonstrating 'extensive knowledge of civil law, economic competition and the regulatory issues applicable to industrial real estate projects', Nader, Hayaux y Goebel, SC fields a 23-strong practice group that is acclaimed for ‘always being one step ahead in a negotiation - it prepares its strategies very precisely’. The full-service practice is deeply experienced in financings as regards real estate projects, along with acquisitions and sales, the creation of foreign investment trusts, infrastructure project development, and the structuring and implementation of time-share and fractional ownership systems, among other matters. Leading the practice, senior partner Michell Nader has a diverse client base in respect to financings, acquisitions and capital markets transactions in the real estate sector. Additional partner level expertise is provided by the 'very practical' Eduardo Villanueva Ortiz  who garners praise since ‘his level of customer service, together with that of his team, is of the highest quality’; he specializes in real estate finance, acquisitions and fund formation, covering the retail, residential, industrial and hospitality sectors. The senior team is completed by VanessaFranyutti, who stands out for her market-leading expertise in the hospitality segment, as well as her focus on the financial aspects of the retail, residential and industrial real estate markets; Alejandro Rojas, who has a broad corporate and finance practice and a particular focus on the hospitality sector; and Javier Arreola and Julián Garza, who provides key support, particularly as regards fund formation. Federico Vergara M (real estate, infrastructure, project finance and banking law) provides key associate support, but former associate Benjamin Torrero left in April 2022 to focus on the development of investment fund Blackburn Capital.

Practice head(s):

Michell Nader


‘All professionals from this team, from partner and their team of lawyers, junior associates and interns, all maintain a level of excellence in customer service. Their promptness to answer any request, and level of experience, make us certain that matters are being resolved.’

‘In our day to day and with the transactions we have, Eduardo Villanueva, a partner at the Nader, Hayaux and Goebel firm, stands out for the following: his level of experience and knowledge of the market make him our first choice to consult about a new structure or an atypical situation or different from what we normally do; his level of customer service, together with that of his team, is of the highest quality, because we obtain the answers and results that are required in each case; the administration of his team makes us see that, even if he delegates to his more junior lawyers, he always knows what is happening and his lawyers know when it is important to involve him so that his experience always helps to resolve any situation or doubt; finally, his focus on the details and his care, make a structure, suggestion or a solution proposal, understand the situation at a general level, but also the fine details are considered at all times.’

‘Extensive knowledge of civil law, economic competition and the regulatory issues applicable to industrial real estate projects. NHG is characterised by always being one step ahead in a negotiation – it prepares its strategies very precisely.’

‘Transparent, knowledge, strategists, negotiation, availability. Eduardo Villanueva – Partner. Alejandro Rojas – Partner. Benjamin Torrero – Associate.’

‘Eduardo Villanueva is a very practical lawyer who always looks for market commercial agreements in which the interests of his client and those of the counterpart are balanced to ensure that transactions are carried out with speed but deep integrity.’

Key clients


Prudential Real Estate Investors / Prudential Mortgage

Grupo GDI / FibraHotel

Deutsche Post DHL Group


Credit Suisse

Inmobiliaria Helmer

Grupo Murano


Banco Sabadell

HSBC Mexico

BBVA Bancomer


PGIM Real Estate

Work highlights

  • Advised Banco Mercantil del Norte, as lender, in the negotiations, structuring and documentation of a secured credit facility granted to comercial, industrial, retail, and office real estate investors,  LMF Frisa.
  • Advised BBVA México and Banco Nacional de Comercio Exterior, as joint lenders, together with BBVA México as book runner and administrative and collateral agent, on a $200m secured financing to Desarrolladora Hotelera de la Riviera,  for the refinancing of debt and corporate purposes in connection with the Hotel Royalton – located in Cancún, Quintana Roo.
  • Advised Grupo Murano on a proposed joint ventures with commercial partners and real estate managers and developers, with respect to the financing, development and management of real estate properties located in Mexico City and Cancun worth over US $1bn, that will operate as hotels operated by Wyndham and AMR Resorts.

Ritch, Mueller y Nicolau, S.C.

Ritch, Mueller y Nicolau, S.C. real estate practice is well versed across a broad range of matters including private and public real estate fund formation, and representing real estate investment trusts in their equity and debt investments in the Mexico, as well as in the various tax and regulatory issues that arise in connection with such operations. The practice group, which demonstrates a ‘thorough orientation towards the transaction’s successful conclusion‘, also has considerable projects experience, be it in relation to industrial parks, hotel and tourism developments, industrial and/or residential complexes or shopping malls, among other project segments. Following former practice head Rodrigo Conesa‘s move to an of counsel position (he remains active but now operates from Miami), the practice is co-led by Javier Domínguez Torrado, who advises real estate investment funds and other investors with respect to their investments and developments in Mexico – including property acquisitions, disposals, financings, and the development and management of assets; and Jean Paul Farah Chajín, who specialises in infrastructure project and real estate finance (both bank and capital markets), and M&A. Completing the senior team, Ricardo Calderón, in turn, advises on real estate as part of a broader practice taking in banking and finance, M&A and compliance. Elected to the partnership in January 2022, Héctor Cárdenas Ortega (M&A, real estate and capital markets), and Santiago Carrillo Cattori (financings, acquisitions and developments across real estate asset classes – particularly industrial and hotel assets), bring new capacity to the evolving team; while at associate level, Alfonso Alberto Vargas and Gabriel Torres both handle finance, M&A and real estate matters. Since publication, Torres has been raised to the partnership - effective as of October 2022.

Practice head(s):

Javier Dominguez Torrado; Jean Paul Farah Chajín


I’d highlight the partners intensive participation and the thorough orientation towards the transaction’s successful conclusion; Javier Dominguez, Santiago Carrillo andEmilio Lie.

Key clients


Walton Street Capital México

Prologis (FIBRA Prologis)

Artha Capital

PGIM Real Estate Fideicomiso PRUMEX Industrial IV

Grupo Financiero Banorte


Banco Sabadell

Scotiabank Inverlat

Thor Urbana


Work highlights

  • Advised on Thor Urbana’s credit agreement with BBVA for the financing of the construction of The Landmark residential centre in Tijuana.
  • Advised on Prologis’ acquisition of an industrial real estate property (of approximately 1,222,295 sq.metres) located in Apodaca, Nuevo León, from a group of private individuals, for the construction of an industrial real estate development.
  • Advised on Walton’s acquisition of a portfolio of seven industrial buildings located in Apodaca, Nuevo León.

Baker McKenzie Abogados, S.C.

Global leviathan Baker McKenzie Abogados, S.C. ‘s multiple office locations in Mexico – Guadalajara, Cd. Juárez, Monterrey, Tijuana and Mexico City – are a significant plus for the firm’s local real etstate practice which has a long-standing market presence in the sector, where it has amassed experience in acquisitions sales, leasing and the development of real estate property ranging from industrial park projects and offices to residential buildings and hotels. The team handles legal structuring, tax strategies, asset financing and securitisation, as well as market entry and exit strategies, among other matters, for a full range of clients, including investment funds. Juan Bernardo Garcia, in Monterrey, is both local practice head and Chair of the firm’ global real estate and infrastructure practice group; his primarily transactional practice is firmly focused on real estate, development and construction law. Tijuana-based José (Pepe) Larroque advises on the structuring of cross-border real estate transactions for the acquisition, development and financing of real estate and infrastructure projects, and also acts as liaison for the North American practice; while Fabian Monsalve-Agraz in Guadalajara, is Chair of the North American real estate & infrastructure and hotel resorts & tourism practices; his expertise centres on major projects/project finance, real estate and mergers and acquisitions. Senior associates Gabriela Saucedo  (in Monterrey), Roberto Cantu-Dessommes (in Chicago), Carlos Maass-Porras (in Ciudad Juárez), Juan Carlos Guerra-Gascon and Alejandra Muriel-Vizcaino (both in Guadalajara); and Atziri Rosado-Ontiveros (Mexico City), constitute a powerful second line that handles a full range of matters, from real estate development, planning, land use and transactions, to infrastructure, construction, hotels, resorts and tourism.

Practice head(s):

Jose Larroque; Fabián Monsalve; Juan Bernardo García

Key clients

Starwood Hoteles & Resorts Worldwide







Mighty Buildings


Koch Industries

Nidec Americas Holding Corporation

Dollar General

St Clair Technologies



Best Buy

Transat A T


Stanley Black & Decker

SIG Combibloc Manufacturing México

Work highlights

  • Advised Lowe’s on closing operations throughout Mexico in a project valued at over $100m.
  • Advised Polaris Industries, originally on the over $100m acquisition and development of its manufacturing campus in Monterrey from FIBRA Terrafina, and then provided continued representation for the expansion of said campus, including the addition of two new manufacturing facilities this year.

Galicia Abogados S.C.

Galicia Abogados S.C. is hailed for a ‘team that is one of the best in the industry, by virtue of its experience, availability, knowledge, attention and quality of its services’. The 12-strong practice advises both local and international clients on commercial, industrial and residential real estate matters, with a heightened focus on the hospitality segment, where the team has participated in numerous flagship projects, including as advisor to institutional lenders and real estate developers. The department, which has experience on acquisitions, public and private market joint ventures, the structuring and formation of private equity funds, FIBRAS (Mexican REITs) and other investment trusts (such as CKDs); capital raising, securities offerings, and portfolio- and asset-level financings; leasing and property management, real estate litigation, and environmental and regulatory matters involving real estate projects across all asset classes. The team is co-led by Ramiro Sandoval, who focuses on handling sophisticated transactions in the real estate and hospitality sector; and Rodrigo Rivera, whose strengths lie in financing-related issues and who is also very active on real estate-related ESG matters. The pair are supported by two key senior associates, Roxana Schäfer and Mariana Islas, both of whom have extensive transactional real estate experience.

Practice head(s):

Ramiro Sandoval; Rodrigo Rivera


‘The team is one of the best in the industry, by virtue of its experience, availability, knowledge, attention and quality of its services.

‘Arturo Perdomo, Guillermo Pérez Santiago, Rodrigo Rivera and Rosemarie McLaren (partners), Cecilia Rojas (director), Lili Abascal, Ma. Ángeles Padilla and Lorena Kiehnle (associates) are extraordinary people and lawyers. Their availability and commitment is unique in the market.

‘Very detailed knowledge of the sector Very professional. They always comply with everything we agreed. Excellent availability, with speed in execution. It is the number 1 office for us.

‘Ramiro Sandoval is our “tough partner” for all transactions. He is able to identify challenges and immediately proposes various solutions. In addition, he goes beyond legal factors and takes into account a business  perspective. We feel very confident, knowing that Ramiro and the Galicia team are supporting us.

‘A team with great leadership by its partner, and with many capable hands for a prompt response. Without a doubt, their best skills are the quality of work and the response times. The distance has made no difference to the service and response time.

‘All lawyers (partners, associates at all levels), are committed to the client, in its defense, care and business commitment. This added to customer service being a priority, rather than just an additional issue to deal with in a transaction. They are practical, objective I highlight Ramiro Sandoval (partner) Roxana Schäfer (associate) Alessandra Gutierrez (associate).

Key clients

Tessera Capital

FIBRA Macquarie

Fibra SOMA

SOMA Group (formerly Grupo Sordo Madaleno)





Orpea Groupe




SMBC (Sumitomo Mitsui Banking Corporation)


Stack Infrastructure

Vertex Real Estate Investors



Banco Sabadell



Work highlights

  • Advised Fibra SOMA on the negotiation of the Hotel Management Agreement and all other ancillary documents related to the development and operation of a new luxury hotel to be operated under the Rosewood brand in Mexico City
  • Advised Fibra SOMA on the design, structuring and implementation of a landmark FIBRA (Mexican Real Estate Investment Trust) which initially consisted of 13 commercial real estate developments located in Mexico’s main cities.
  • Advised Vertex Real Estate (together with Grupo MRP) on the acquisition of the St Regis Hotel located in Punta Mita, Nayarit, Mexico.

González Calvillo, SC

González Calvillo houses an nine-strong practice that is primarily focuses on transactional real estate matters but also handles the full spectrum of relevant matters, from land acquisitions and sales, and project development, to franchises, lease agreements, permits and financing – particularly in relation to the industrial, residential and hospitality segments. It regularly represents developers, lenders, investment banks, pension funds, real estate investment funds and corporations in connection with real estate-related transactions, including hotel management companies, golf course developers, shopping centres and business centres.  The practice is co-led by Alfredo Chávez Goyeneche, a well known practitioner who advises on all types of corporate transactions involving joint ventures, mergers and acquisitions, strategic alliances, lease agreements, restructurings, contracts, project finance, investments, public bids, and regulatory issues in general; and Gonzalo Vargas Ateca, who is experienced in the implementation of sophisticated purchase and sale agreements, cross-border investments, M&A transactions and finance. Key support comes from senior associates Joaquín Alcalá Cuéllar (corporate, M&A and real estate) and Haydeé Montserrat Gonzalez Tavira (corporate/real estate), the latter an August 2021 hire from Jáuregui y Del Valle, S.C. prior to the departure of senior associate Paulina Sellerier who moved in house as VP Legal Latam at Habitas in September.

Practice head(s):

Alfredo Chávez Goyeneche; Gonzalo Vargas Ateca

Key clients

Avviare Inmobiliaria

Baker Hughes International


Canamex International

InterContinental Hotels Group


International Workplace Group

Reichmann International

Twin City Hide

UST Global




Work highlights

  • Advised Axa on performing a legal due diligence to determine potential risks on the acquisition of a real estate property in Guanajuato that was originally used agrarian for agrarian purposes; as well as carrying out all processes of change of nature, and associated permits and licenses needed for the operation of the facility.
  • Advised Terrablocks on the due diligence of various properties in Mérida, Yucatán to confirm favourable conditions for the granting of loans to various real estate developers for the completion of residential projects.

Ibarra, del Paso y Gallego

Assuring 'solid knowledge, personalised treatment and availability’, Ibarra, del Paso y Gallego is well known for its robust capabilities in real estate matters including acquisitions, joint ventures, financing, development, construction, leasing, and the development and operation of hotel facilities (including timeshares), as well as secured financing, the constitution of real estate trusts, and vehicle-structuring for real estate developments, among other matters. Carlos Ibarra Fernández, who is specialised in real estate, tourism and hospitality, as well as M&A operations, co-leads the practice with Gerardo Gallego, who focuses on multinational and cross-border business and real estate transactions; mainly between USA and Mexico; and Rodrigo De Los Ríos, who is experienced in real estate development and construction, and provides legal advice on all aspects and stages of the real estate business. Key support is provided by experienced of counsel Alejandra Gutiérrez; however, former fellow of counsel Sandra Jiménez Huerta moved in house at an infrastructure development fund in November 2021.

Practice head(s):

Carlos Ibarra; Gerardo Gallego; Rodrigo de los Ríos


‘They offer an integrated service with experts in different subjects, which complement real estate issues, such as environmental, litigation, among others. A medium-sized office, but one that covers many subjects. Flexibility in billing schemes.’

‘Solid knowledge, a personalised treatment and availability.’

‘The team is specialised in real estate issues. They are always up to date on all topics. It is a study that has personalised attention and goes into detail of all things. Lawyers are interested in learning more about the business and the company, in order to contribute with their talent. Always open to review billing and make it a win-win between attorney-client.’

‘Carlos Ibarra and Rodrigo de los Rios dominate real estate issues. It is very easy to relate to them and they always adapt to the needs of their clients.’

Key clients

Marriot Vacations Worldwide Corporation

Hilton Grand Vacations


The Chemours Company

Grupo Blq

Renewable Resources Group



Cementos Moctezuma

Kuha Wellness Community Center


Grupo Constructor Pirámide



Grupo Financiero Banorte

Work highlights

  • Advised Marriott Vacation Worldwide Corporation on the legal due diligence and review of Welk’s Mexican property, Hotel Sirena del Mar (located in Los Cabos), for its acquisition, as part of the seller’s portfolio.
  • Advised Hilton Grand Vacations on the acquisition of a condominium interest within the Hilton Los Cabos Beach and Golf Resort in Los Cabos from a joint venture of partners including Trinity Real Estate Investments in Los Cabos, for the development of its first timeshare regime in Mexico.
  • Advised on the Mexican portion of a multinational M&A transaction entailing the sale of Chemours’ Mining Solutions Business to Draslovka Holding, a Czech Republic-based private company specialising in chemicals; the Real Estate team coordinated and lead the review of the current status of certain in-development industrial facilities in Durango, as well with all steps in connection with the conveyancing of the asset.

Santamarina y Steta

The practice group at Santamarina y Steta is acclaimed as ‘definitely a great team, always attentive to the client, and with wonderful follow-up on the matters they see’. The practice has great expertise in agrarian and urban development matters,  along with acquisitions, transfers, leasing, construction, financing and guarantees, and developmental/operational real estate project issues relating to -among others- industrial parks, distribution centres and malls, offices, housing complexes, tourist developments, mixed-use complexes, airports and “ejido” properties. The team is led by ‘great partnerVicente Grau, who advises clients on the acquisition, leasing, development, construction and sale of real estate properties, as well as on the related structuring of financing and security, the contribution of properties to FIBRAS, and on CKDs and guaranty trusts. Additional partner level expertise is provided by Claudia Rodríguez, who advises Mexican and international clients on the structuring, planning and implementation of operations for the acquisition, financing, development, leasing and sale of real estate projects, as well as on the structuring of real estate guarantees; she specializes in the commercial and industrial sectors. Associate Yakov Kobets who is ‘always on top of matters’ participates in the structuring and execution of projects related to the acquisition and/or sale of assets, including due diligence procedures.

Practice head(s):

Vicente Grau


‘Definitely a great team, always attentive to the client, and with wonderful follow-up on the matters they see. The good communication with them is noticeable and despite the pandemic, the communication was always very fluid and their administrative team is also very good.

‘Vicente Grau is a great partner. He is always attentive and aware of the issues he is carrying. And Yakov Kobets is also a super associate, they are a great team, the two of them always with the best availability, Yakov is always on top of matters and we value that very much.

SMPS Legal

SMPS Legal continues to impress clients who ‘feel very secure when we turn to them for advice’. The 11-strong team (including five partners) is praised for advising a wide range of clients including developers, creditors and investors on matters ranging from project development concerning luxury residential buildings or commercial projects, to financing, land acquisitions and lease agreements, among others. The practice is led by three accomplished and knowledgeable partners. María Teresa Paillés, a major market figure with a 30 year trajectory who specialises in real estate along with associated M&A and financial and credit operations; María Esther Rey who has deep experience regarding investments, commercial and lease trust agreements, guarantees and administration; and Andres Pizarro Suarez, whose practice centres on matters including complex trusts, escrow operations and real estate trusts. Senior associates Andrés González (real estate, corporate and finance) and Nadiezhda Vázquez Careaga (corporate law, real estate, and M&A), both have deep experience of the sector.

Practice head(s):

María Teresa Paillés; Andrés Pizarro Suárez; María Esther Rey


‘I continue to reiterate what makes this office special is the immediate attention that the entire SMPS team gives us, from the partners to the lawyers who follow up on the matters. This office, compared to others we have worked with, strives for prompt attention and is always available when needed, even attending us while on vacation. They also keep us updated regarding certain aspects that must be considered in daily practice. I consider the lawyers who support the partners to be quite capable, they are understandable and I consider that they are quite trained in the matter. I feel very secure when we turn to them for advice.’

‘On this occasion, I highlight the will and disposition of the people because we had a very delicate matter that required the participation of the lawyers and they, although they were on vacation, always had time to attend to us. That is something that we greatly value because we were able to resolve the issue with their direct involvement. The kindness, understanding and willingness to support is invaluable in Jorge San Martín, Andrés Pizarro Suárez and Eduardo Pizarro Suárez. This year we value more than in others all the support they have given us.’

Key clients


Cimbra Capital

Fortem Capital


APX Inmuebles

La Haus

Meor, Real Estate Fund

Pesorama Inc.

Sebi Real Estate Developer

GD Holdings

Work highlights

  • Advised Kocomo on the development and creation of the legal structure to sell fractional interests in luxury homes in resort areas in Mexico, through the sale of membership interests in USA, which holds an entire Mexican real estate trust that in turn holds the acquired real estate.
  • Advised Cimbra Capital, a real estate development focused on the luxury residential sectors, on due diligence, negotiation, land acquisition, financing and the legal tax structure for the development of the second phase of a real estate housing development in Tijuana.
  • Advised Fortem Capital, a manager of investments funds related to commercial, industrial and residential real estate projects, on the due diligence, negotiation, land acquisition, legal structuring and development of real estate projects in Mexico.

TA Trujillo Abogados Mexico

Accomplished real estate boutique  Trujillo Abogados is lauded by some as ‘technically impeccable, highly creative and focused on business results, goal-oriented allowing advancement with counterparts and inhouse teams’. The team advises local and international clients on the structuring of investment vehicles, joint ventures, development matters, and the acquisition and sale of all asset types in Mexico, including industrial premises, retail centers, offices, hotels and residential buildings. Additionaly, the practice has experience in real estate portfolio financing, advising lenders and borrowers on structured finance; senior, syndicated, recourse, cross-collateralized and non-recourse loans; trusts, mortgage and pledge securities. Name partner and practice head Alejandro Trujillo spent many years in house prior to entering private practice, giving him a degree of empathy and comprehension that clients greatly appreciate; he advises clients on joint ventures, the creation of special purpose vehicles, and the acquisition, development, management, leasing and disposition of assets, as well as all types of real estate financing. Younger partner Alejandra Boj was also formerly inhouse (as legal director for Intramerica Real Estate Group; and, later, for Fibra Macquarie,) and has over 15 years' experience in the drafting and negotiation of purchase and sale, lease, development, and property management agreements; while Miguel López has ten years' experience handling real estate transactions, particularly the analysis, structuring and implementation of real estate operations in Mexico, as well as on the execution of loans to leverage said projects. Key associates include Marian Garcia (who previously worked in house at a real estate developer and has extensive knowledge of leases for retail, industrial and office assets); Guillermo Christy and Oscar Arroyo.

Practice head(s):

Alejandro Trujillo


‘Team with experience and very cohesive. Technically impeccable, highly creative and focused on business results, goal-oriented allowing advancement with counterparts and inhouse teams.i

‘The firm seems to me to be one of the practices that stands out for providing a multidisciplinary team to meet the needs of the company.

‘The plus that the Trujillo team has is that in each leasing operation that we have, they present us with reports of the documents carried out, they present us with the necessary briefs for internal authorizations, as well as, monitoring of all the points that the operation implies.

‘Young team, with experience in the real estate segment. Capable of dealing with relevant issues.

‘Experience as an in-house lawyer, which makes it easier to understand the client’s needs. Alexander Trujillo.

‘Is an office specialised in the subject, which makes it different from the others.

‘They are specialists in the subject and their response capacity is as expected.

‘All team members operate in an integrated manner. There is always someone aware of the transaction. Excellent communication with the client, regarding next steps.

‘Alejandro Trujillo, Miguel López and Óscar Arroyo make up a great work team. In addition to their legal knowledge, they have a correct notion of the business with innovative and practical proposals.

‘They know the real estate industry very well.

‘They are very professional and nice.

‘Direct attention and permanent involvement of Alejandro Trujillo, main partner of the firm. Lawyer with a lot of experience and creativity. Associates, like Marian García, very capable and with a great disposition.

‘The managing partner has more than 25 years of experience in the real estate sector, around 10 years as a company lawyer and 15 years in law firms, which gives him a holistic perspective of legal services and an understanding of what companies are looking for from law firms. and permeates this to the rest of the team, so they provide excellent services both in the structuring part and in the fee agreements.i

‘Flexible fee agreements adapting to the needs of the companies. Gender diversity, half of the partners are women, this is rare to see in other firms. Boutique, specialised in real estate issues (all real estate sectors, debt, COFECE related to real estate transactions, JVs, etc.). Creative structures oriented to accommodate the needs of the business. Area specialized in property management.

‘Client treatment is unique.

‘Great availability to attend any matter at any time.

Key clients


Alsis Funds


Advance Real Estate


Banco del Bajio


Corporate Properties of the Americas

Credit Suisse


Fibra Monterrey

Fibra Macquarie

Fibra Terrafina


Frontera Development

General Electric

Guess?, Inc.

Grupo Zapata

Hilco Real Estate




Macquarie Assets Management

Macquarie Infrastructure and Real Assets


Mexico Retail Properties

Newmark Knight Frank


One Development Group



PSP Canada Pension Fund

REI Real Estate




TC Latam

The Plaza Group

Wafra Capital Partners

Walton Street Capital

Washington State Pension Fund

Work highlights

  • Advised Finsa on the acquisition of a $25.5m industrial portfolio located in Jalisco from Prologis.
  • Advised  Mexico Retail Properties on a joint venture with Vertex Real Estate Investors to acquire and manage the St Regis Hotel at Punta Mita (Nayarit, Mexico).
  • Advised PSP (Advance) on acquiring a $111m industrial portfolio located in Tijuana and Guanajuato from PGIM.  

Cannizzo, Ortiz y Asociados SC

Fielding a sizeable team of some 21 lawyers – including six partners – Cannizzo, Ortiz y Asociados SC has a broad real estate offering that reflects the firm’s full-service capabilities and houses deep experience in negotiations, the structuring and implementation of real property acquisitions, sales, exchanges and leasing, as well as the handling of all development activities necessary for the completion of real estate projects. Clients include investment and real estate funds, hospitality and leisure companies, along with REITs, commercial and industrial developers, governmental agencies, institutional lenders and other investors. The team is acclaimed as ‘an exceptional practice when it comes to hotel developments and sophisticated residential condominiums, they are certainly leaders in the industry’. The practice is led by Carlo Cannizzo, who focuses on real estate, infrastructure and construction, corporate, finance and M&A transactions; and Mauricio Moreno-Rey, who represents clients from a range of sectors including hospitality, industrial, commercial and residential real estate, the maquiladora segment and infrastructure, among others. Roberto Cannizzo, Marco Cannizzo and Stefano Amato all participate in real estate, corporate and M&A transactions; with Enrique García particularly focused on real estate acquisitions in the tourism and industrial segments, along with real estate structured finance and securitisation and construction deals. At associate level, following the departure of experienced senior Vanessa Romero (who moved in house at La Haus in January 2022), key support comes from senior Andrea Sopranzetti and intermediate Alexandra Lefterache.

Practice head(s):

Carlo Cannizzo; Roberto Cannizzo; Stefano Amato; Marco Cannizzo; Mauricio Moreno-Rey; Enrique García


‘This firm has an exceptional practice when it comes to hotel developments and sophisticated residential condominiums, they are certainly leaders in the industry.

‘Mauricio Moreno Rey and Carlo Cannizzo have unrivaled experience; They have provided advice to the main developers in the country.

Key clients

Playa Hotels & Resorts

Grupo Proma


Work highlights

  • Advised Grupo Proma on the negotiation and signing of the lease agreement in the state of Guanajuato, Mexico for a new plant, as well as in its development.

CMS Woodhouse Lorente Ludlow

CMS Woodhouse Lorente Ludlow has a proven track record across the full spectrum of real estate matters, with experience and expertise in the structuring, financing and development of industrial, residential, hospitality, office and mixed-use projects. The practice advises developers, institutional investors, and lenders on all necessary areas of real estate projects, including the purchase and sale of land, assistance with the real estate financing market, and the efficient administration of real estate portfolios and structuring of favourable financing. The eight-strong team is led by César Armando Lechuga, who is praised by clients as ‘an exceptional partner and excellent lawyer, with a very organised team - he was always very involved in the advice’; he focuses on the origination of legal structures for the implementation of real estate properties and infrastructure projects through trusts, special purpose vehicles and/or companies. Additional partner level expertise and in-put is provided by senior partner Enrique Lorente Ludlow, who represents landowners, developers and investment funds on complex lease arrangements, as well as on the sale and purchase of commercial, industrial, residential and corporate properties. At associate level, María José Estrada Suárez is a key member of the team and is specialised in the development of structures -plus associated negotiation and documents- for all types of real estate projects; and Luis Mora y Medrano advises on real estate matters related to the energy sector.

Practice head(s):

César Armando Lechuga


‘The office showed a high commitment to its clients and transmits a lot of security and dedication. They have great knowledge and ability to understand the needs of the client as well as to be up to date with new market practices.

‘César Lechuga is an exceptional partner and excellent lawyer, with a very organized team – he was always very involved in the advice. Easy to contact and available for any questions. Luis Enrique and María José denote being great professionals with a high level of commitment and an incredible work attitude! It was a pleasure working with them.

‘Total availability of partners and dedication even for “not so important” issues. Outstanding elaboration and communication of all possible scenarios or alternatives to resolve the issues at hand. Don’t just present 2-3 alternatives. 100% punctual fulfillment of its delivery commitments.

‘The entire team is efficient and fast. They know our internal requirements perfectly and have a fluent relationship with our managers in Mexico, which makes our work much easier.

‘Their dedication and availability. They also try to make complex matters easy and their advice is always invaluable.

‘Quick response, good team coordination, compliance with deadlines, proactivity, excellent collaboration between departments.

‘Knowledge diligence good coordination of teams compliance with deadlines proactivity and empathy with the client.

Key clients

Hasta Capital

Opera Desarrolladora




Quiero Casa


Union Real Estate Investment

Deka Inmobilien

Grupo Indi

Work highlights

  • Advised Aptuno on the implementation of a legal structure for the management and leasing of residential properties owned by third parties through a digital platform.
  • Advised Innokap on the day-to-day negotiations and preparation of various agreements with regards to the sale of a property of 69,679 sqm located in one of the most exclusive areas of Playa del Carmen, Quintana Roo, Mexico.
  • Advised Grupo Indi on the implementation of a legal structure for the development of a mixed-use real estate owned by third parties located in the Miguel Hidalgo neighbourhood, Mexico City.

Creel Abogados, SC

Creel Abogados, SC's 12-strong team real estate practice is co-led by seasoned partner Gustavo Struck Creel and his younger, upcoming colleague, Alfonso Razú; both handle corporate and real estate matters. Jorge Torres, who has over 35 years' experience, completes the senior team; his practice is centred on real estate transactions including the acquisition, lease and development of real estate properties for hospitality, retail, industrial and residential projects throughout Mexico. Indeed, the team is highly regarded for its advice to funds, investors, developers, financial institutions and retail groups, across the full spectrum of real estate matters, including real estate portfolios, the sale and acquisition of properties, project development, financing, due diligence, investments, lease agreements, and real estate trusts. The practice works closely with the firm's corporate M&A, finance and tax teams to provide advice on all required aspects of the transaction.

Practice head(s):

Gustavo Struck Creel; Alfonso Razú

Key clients

Grupo Inmobiliario Los Bravos


Kerzner Group

Misión del Sol Hotel & Spa

Grupo Positano

Grupo Institución

Lone Star International


Condesa Rejon

Work highlights

  • Advised Grupo Inmobiliario Los Bravos, real estate developers based in Ciudad Juarez, Chihuahua, on the structuring, drafting and negotiation of the sale of a portfolio of industrial plants to Canadian public pension fund, Advance.
  • Advised Misión del Sol on the legal and tax due diligence, as well as the drafting and negotiation of the related sale documentation, for the sale of the Hotel and Spa Misión del Sol, located in Cuernavaca, State of Morelos, to a Family Office.
  • Advised Inmobilia, a real estate developer in the Yucatan, on the development, construction and operation of a premium hotel and residencies in Tulum, Quintana Roo.

Hogan Lovells

Hogan Lovells‘ compact-but-knowledgeable, eight-strong practice is acclaimed for ‘excellent knowledge of the subject and its field, outstanding customer service and follow-up to resolve pending issues‘, and as ‘always respectful and attentive.’ Experienced in real estate due diligence, the sale and acquisition of real estate, leasing and condominium regimes, construction, litigation, and the operation and management of real estate developments, the team is co-led by an experienced partner trio.  Juan Francisco Torres Landa advises clients on the financing and acquisition of projects, and foreign investments; while Ángel Domínguez De Pedro and Guillermo González Frankenberger are both experienced in M&A, real estate, corporate governance, and corporate and commercial matters. Counsel Fernando Medina Luna is responsible for the coordination of the practice and handles civil, commercial, corporate and real estate matters – including social land (“ejidos”) and urban development advice, as well as having experience dealing with administrative contingencies related to the real estate sector. Associate Ana Lucía Gutiérrez Fernández focuses on real estate transactions, corporate and commercial matters, leases, purchases and real estate portfolio transactions, along with administrative regulatory matters. However, former associate Luis Lauro González moved in house as transactional legal director at Finsa in February 2022.

Practice head(s):

Juan Francisco Torres Landa; Angel Dominguez de Pedro; Guillermo González Frankenberger


‘Excellent knowledge of the subject and its field, outstanding customer service and follow-up to resolve pending issues always respectful and attentive.

‘Carlos Ramos Miranda, Andrea Tinoco Abraham, Andrea Lopez D, Angel Dominguez de Pedro, Fernando Medina, María Sophia Garcia Sanchez. All excellent lawyers and excellent in their work. Not to mention, great people.

Key clients

Education Index Management Limited

Estafeta Mexicana

Federal Mogul

Finsa Portafolios

Ford Motor Company

Google Operaciones de Mexico

Parks Desarrolladora

Phoenix Tower International

The Walt Disney Company México

Wal-Mart de México

Holland & Knight

Holland & Knight LLP has long been a relevant participant in the real estate sector; well versed in the industry - including industrial, commercial, retail, residential and leisure facilities, as well as FIBRAS and CKDs - it has profound expertise in cross-border real estate transactions and also offers real estate-related capital markets expertise, and advice on the planning , development, financing and construction of real estate projects, as well as tax structuring and planning. The practice is co-led by Guillermo Uribe, whose track record includes major real estate acquisitions, rights offers, follow-on offers and debt deals, and is also widely recognised (and respected) for his expertise in FIBRA-related matters; and Adrián Gay Lasa, who also focuses on matters related to Mexican REITS - particularly their IPOs - along with transactions related to the hospitality/hotels and construction segments, funding, and investment vehicles designed to fund development and/or the acquisition of portfolios. Key support comes from experienced senior Jorge González Carlini, who primarily handles real estate finance matters. Additionally, Alejandro Landa (who focuses on the energy, finance and transactional matters) also participates in real estate work on an ongoing basis. Former associate Santiago Soldevilla moved in house as legal manager at RLH Properties in February 2022.

Practice head(s):

Guillermo Uribe; Adrian Gay Lasa

Key clients


Chag Construcciones

Fibra Uno

Fibra Haus / Casa de Bolsa Santander, Grupo Financiero Santander México

Parks Desarrolladora

Work highlights

  • Advised Agrofibra on its IPO process to become a Mexican REIT and the acquisition of numerous different real estate properties; the vehicle will be constituted and specialised to maximize distributions to the CBFIs holders.
  • Advised Parks Desarrolladora on the purchase of Gurpo Posadas’ equity in the project, and the financing for said purchase.
  • Advised Fibra Uno in connection with its fourth and fifth issuances of long-term sustainable bonds under its pre-authorised program for a total amount of $400m; the proceeds were used to finance or refinance, eligible -new or existing- sustainable projects.

Pérez Correa González

Pérez Correa González is widely regarded for its diverse capabilities in real estate transactions, advising domestic and multinational corporations, banks, non-bank financial institutions, investment funds and technology companies on joint ventures, land acquisitions, project development (for industrial, residential and hospitality projects), financings, and purchase and lease agreements among other matters. The practice is led by Luis González , who focuses on corporate and transactional work, including real estate matters; with fellow partner-level support provided by the Vancouver-based Omar Aguilar, who has over 20 years' experience involved in the design of investment and financial structures for real estate clients. The pair can also call on a healthy associate bench with Juan Carlos Izaza (corporate, M&A, real estate and private equity law - particularly the design, drafting and negotiation of commercial agreements); and Carlos Ugalde  (the structuring of large real estate transactions, involving the acquisition/sale of real estate properties - particularly in relation to the tourism/hospitality sector) playing a key role. However, former fellow associate María Fernanda López Lledó moved to Nader, Hayaux y Goebel, SC in May 2022.

Practice head(s):

Luis González

Key clients



Work highlights

  • Advised BigWhite on the negotiation and acquisition of adjacent plots of land for project development, including negotiating and securing easements, obtaining state and municipal permits, and negotiating financing terms and a corresponding partnership structure for the development of the project, among other matters.
  • Advised Akivinta on structuring the purchase and the regularisation of premium upscale mixed-use residential properties.

Sánchez Devanny

Sánchez Devanny has an excellent reputation and is an established player in the real estate sector, advising clients on the acquisition and lease of industrial and retail properties, as well as on project finance and real estate matters for private equity funds. The team is co-led by Rafael Villamar-Ramos, who is  experienced in industrial, commercial and residential real estate acquisition and leasing transactions; and Diego Gómez-Haro who focuses primarily on real estate transactions – including the structuring of investment vehicles, the acquisition and sale of assets, leasing, the development and construction of projects, due diligence and financing. Senior associate Alfredo Villarreal Hansmann is experienced at handling lease agreements, acquisitions, the construction of industrial facilities, and commercial, hospitality and residential projects, provides key support. However, former senior Alonso Sandoval moved in house as senior legal manager at housing platform QuintoAndar’s international arm, Benvi, in July 2022.

Practice head(s):

Rafael Villamar-Ramos; Diego Gómez-Haro


‘They have an enormous knowledge of who we are, our philosophy and how we work. They are very good and have a great knowledge of the market and the needs of the company.

‘Highlight practitioners Rafael Villamar Ramos and Alfredo Villarreal Hansman.

‘Excellent subject matter knowledge and good availability.

‘Diego and Miguel are both excellent lawyers and have great customer service.

Key clients

Deutsche Post DHL Group

Eri-Lux Umbrella Fund Sicav-Raif

Silver Lake



Addem Capital





Work highlights

  • Advised Eri-Lux Umbrella Fund Sicav-Raif on its investment in TC Latin American Partners to carry out the acquisition of the Puerta del Norte industrial park.
  • Advised CloudHQ on the construction of a data center campus in the state of Querétaro, in the north-central zone of Mexico, for an amount of $723m.
  • Advised Stellantis on the sale of an industrial property to Fibra Prologis.

Basham, Ringe y Correa, S.C.

Basham, Ringe y Correa, S.C. fields an experienced real estate team that principally undertakes project structuring, negotiations, land acquisition and sales, leasing and financing for clients in the commercial, industrial, tourist, and residential sectors. Following the May 2022 retirement of Daniel Del Rio, a trio of key practitioners now lead the team: Juan Jose Lopez de Silanes, who has significant experience in the real estate as well as tourism and hospitality sectors; Juan Carlos Serra, who handles joint-ventures, mergers and acquisitions, reorganisations and investment; and Jesus Colunga, who focuses on transactions in the hospitality sector, franchise matters and joint ventures. Promoted to partner in October 2022, Gerson Vaca participates on corporate and transactional matters in the sector, but former fellow senior Ricardo Evangelista moved in house as legal operations counsel at PepsiCo in May 2022.

Practice head(s):

Juan Jose Lopez de Silanes; Jesus Colunga; Amilcar Garcia; Juan Carlos Serra; Carlos Velazquez de Leon; Luis Lujan; Miguel Angel Peralta

Chávez Vargas Minutti Abogados

Chávez Vargas Minutti Abogados has notable strength in real estate matters, from project development and commercialization to land acquisitions for office buildings, residential complexes and hotels. The practice is led by Jose Antonio Chávez who has experience in the financing and structuring of real estate projects; and Alejandro Carreño who was promoted to partner in September 2021 and advises real estate developers on commercial, office, residential, industrial and agricultural projects.

Practice head(s):

José Antonio Chávez Vargas; Alejandro Carreño

Key clients

Inmobiliaria BIP

Mobiliare Latam

Work highlights

  • Advised Inmobiliaria BIP on the structuring and legal implementation of a real estate project in Tijuana, Baja California.
  • Advised Mobiliare Latam on the structuring and legal implementation of real estate project in Mérida, Yucatan
  • Advised Mobiliare Latam on the acquisition of an industrial building in San Luis Potosí, Mexico, an area known where there is a high concentration of automotive industry participants.

Cuesta Campos y Asociados S.C.

Cuesta Campos y Asociados S.C. has substantial experience advising clients in the manufacturing, electronics, real estate and logistics sectors, on matters such as property sales and rental, property titles and leases, transactional due diligence, and the viability of operations given urban planning regulations and norms. The real estate practice, which has over 10 years of development and growth, is led by partner Berenice Soto who focuses on corporate, industrial, business, residential and hospitality/tourism real estate projects. Associate Jesús Bueno provides key support and the practice operates from offices in Mexico City, Guadalajara and -notably- the El Bajío region.

Practice head(s):

Berenice Soto


‘It is the only firm I have ever worked with. I have received constant attention and in time for the needs of my company.

‘They are experts in their field and capable of explaining to those of us who are not aware of all the details of the contracts. They have a service orientation and wide availability and flexibility to accommodate our delivery times.

Key clients

NPA de Mexico

Jabil Circuit de Mexico

Jabil Circuit de Chihuahua



Steward Estate

Hoy Health


Work highlights

  • Advised NPA de México, a manufacturer of non-electronic equipment for medical use, on the negotiation, review and execution of several agreements -including construction agreements- for the expansion of its premises.
  • Advised wind tunnel designer iFly Indoor Skydiving, on the review and due diligence of a property of approximately 1,000 square meters, in relation to the opening of its premises in Mexico City.
  • Advised packaging solutions company Estapack regarding the execution of industrial lease agreements for its industrial premises.

Kuri Breña, Sánchez Ugarte y Aznar

Kuri Breña, Sánchez Ugarte y Aznar's real estate practice has significant strength advising clients from the construction, manufacturing, automotive, retail, commercial and hospitality sectors, among others, on matters including acquisitions, sales, leasing and the development of projects, as well as financing, securitisation, joint ventures and lease agreements, The team is co-led by a trio of experienced partners: Luis Octavio Nuñez is an experienced corporate and finance lawyer with extensive experience in real estate matters; Bernardo Luna has particular experience in the structuring and financing of projects, particularly in the energy and roads sectors, and across the infrastructure area in general; and senior partner Guillermo Garay, who handles mergers and acquisitions, public and private biddings, financing and securitisations, as well as real estate transactions.. Key associate support is provided by senior Elizabeth Tovar who has approaching a decade's specialisation in real estate matters.

Practice head(s):

Luis Octavio Nuñez Orellana; Guillermo Garay Espinosa; Bernardo Luna Gutierrez


‘It is one of the only offices in which the partner is really involved in the operation, who is aware of everything and that, of course, permeates his team, who also have extensive knowledge of the matter being discussed. In terms of the team, they really stand out from many other firms. People from our company ask to work with them because they are a great team and they are very clear about what “customer service” is.’

‘The work of Luis Octavio Núñez is outstanding, he is a highly prepared person who always gets to the heart of difficult negotiations and gives surprising alternatives and answers. He is a highly accessible partner. His associate Alfonso Alfaro is also “outstanding”. He always answers, he is always aware of his client and of the issues. It is a pleasure to work with them.’

Key clients




Salles Sainzs – Grant Thornton

Work highlights

  • Advised Prologis in connection with the acquisition of several plots of land in the State of México for a new development; said plots have a total surface of 100 hectares and arise from agrarian ownership.
  • Advised Prologis in connection with its acquisition of an industrial warehouse located in México City from Stellantis.
  • Advising Terrabrio on a joint venture and the development of a large, mixed-use real estate project in Mérida, Yucatán.

Macari & Gongora

Macari & Gongora is a boutique law firm located in Riviera Maya and specialised in advising national and foreign investors on real estate development and tourism related transactions – principally in the country’s south-east. Highly-regarded by clients for having ‘a team of lawyers that has a great talent to find legal solutions and also provides personalised services’, the eight-strong practice is led by Pedro Góngora Urcelay, a specialist in joint ventures, the incorporation of real state trusts, due diligence procedures and the design of complex structures for key real estate projects in the area. Managing associate of the real estate and corporate practices, Gabriela Varguez Kuk is also key to the practice’s service offering.

Practice head(s):

Pedro Góngora Urcelay


‘The Macari & Gongora team has worked together with other firms that advise our group (up to 3 at a time) and managed to put aside the natural competition that exists between legal professionals to concentrate on adding and getting real estate projects off the ground in times that exceed all expectations.

‘We received a very personalised service, a lawyer was assigned to guarantee the progress in requirements and solving all the procedures with the buyer, they concluded the deed of purchase in the agreed times and all parties involved were satisfied by the professionalism.

 ‘The involvement of the partners, both Pedro Gongora and Juan Macari in each of the issues, whether small or large, and the professionalism with which they do it, as well as the knowledge they have of each issue they work on.

 ‘The team has a very good relationship with the people and they are always willing to help to close negotiations in our favour.

‘Lawyers are purposeful, always seeking the satisfaction of all parties involved.

‘Pedro is always available to answer calls or messages to solve any issue at all times, and willing to meet with the other parties to reach agreements.

‘A team of lawyers that has a great talent to find legal solutions and also provides personalised services.

Key clients

Kelman Desarrollos

SIMCA Desarrollos

Palace Resorts

Distrito de Arte Mérida

Work highlights

  • Advised real estate development company Kelman Desarrollos on the Townsquare Projects, a complex of 128 apartments in a condominium with a commercial plaza.
  • Advised real estate development company SIMCA Desarrollos on a private residential project with clubhouse and golf course named La Provincia
  • Advised Palace Resorts, company in the hotel and real estate development segment, on a project called “City 32”, which consists of a hotel that is part of the Camino Real chain, a corporate office building and a shopping plaza in northern Mérida, Yucatán.

Sainz Abogados

Sainz Abogados has a solid background in real estate matters advising a broad range of property developers, lenders, investment managers, private equity funds, real estate investment trusts and private owners on a variety of transactions involving various types of commercial, industrial, residential and hospitality-related real estate. Praised by clients for a ‘service that is exceptional, extremely fast and efficient’, the team is led by Daniel Saltzberg who has over 20 years' experience in the sector, particularly on corporate and finance matters including joint ventures, mergers and acquisitions and corporate governance. Further partner-level expertise is provided by rel estate specialist Manuel Corona, who regularly advises on mid- and high-end residential, industrial, retail and hospitality projects, including the structuring of legal vehicles, land acquisitions, construction and development agreements, sale and financing transactions, and zoning, environmental and other regulatory matters. Key support comes from real estate-specialised senior associate Ximena Hernández who handles transactions, financings, trusts and corporate and securities matters.

Practice head(s):

Daniel Saltzberg


‘The service is exceptional, extremely fast and efficient. They are constantly looking for ways to add value in other areas of the business, either by incorporating new partners/support staff, but never neglecting the level of service.

‘They thoroughly understand the business, are very proactive and always look for the “as if”; being our exclusive transactional lawyers in Mexico, they actually serve as support to resolve legal and business issues, providing alternative perspectives that allow closing the deal in the best possible way.

‘Great knowledge of the matter and the process of closing operations, supporting the negotiations at all times.

‘Very good response time and knowledge by all team representatives. Daniel and Ximena are available at all times to support us.

‘They have the knowledge and technique to help their clients in any transaction. They are “business forward”.

‘The human quality and the attention received. Daniel Saltzberg – partner.

‘Diversity in the provided services, fully collaboration with its clients, time of response.

Von Wobeser y Sierra, SC

Von Wobeser y Sierra, SC has particular expertise as regards matters involving ejidos and the real estate team has been involved in multiple transactions involving social property and the conversion of public land in to private real estate for project development. The practice also has considerable experience in land acquisitions, lease agreements, financing and litigation. The team is co-led by Pablo Saez, who advises on real estate matters that have a strong corporate and/or M&A component; and Alejandro Orellana, who generally advises domestic and foreign developers, lenders and private equity investors on regulatory issues related to real estate matters. Promoted to the partnership in 2021, Raymundo Soberanis has extensive real estate disputes experience (both litigation and arbitration), as well as solid knowledge of construction matters; while Ariel Garfio and Javier Betancourt, promoted to partner and counsel, respectively, in January 2022, also participate in the practice on the project finance/development side. Specialist senior associate Rocío Vega has over 10 years’ experience of real estate and project development investment, construction, and lease agreements; restructuring, contracts and trusts; administrative issues (including land use and obtaining permits and licenses); and agrarian matters.

Practice head(s):

Pablo Saez; Alejandro Orellana

Key clients

Club de Fútbol Rojinegros

Institución Confe a Favor de la Persona con Discapacidad Intelectual

Vertical Trives

Ingenieros Civiles Asociados

Manantiales la Asunción

Grupo Modelo

Krispy Kreme México


Anheuser-Busch InBev

Enel Rinnovabile

Energy Development Partners

FV de Zacatecas


Mars, Inc

Parque Eólico de Fenicias

Work highlights

  • Advised Club de Futbol Rojinegros on the leasing of a property to be developed for the construction, establishment and conditioning of a high-performance training center for sports activities located in Zapopan, Jalisco.
  • Advised MG HR on the acquisition of 100 hectares of land parcels for the development and construction of a hybrid 35MW state-of-the-art photovoltaic facility located in Baja California Sur.