Real estate in Mexico

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

One of the undisputed heavyweights of the real estate arena, Creel, García-Cuéllar, Aiza y Enríquez, S.C. houses a ‘hard-working, skilled, and thorough’ practice, 24-strong, which remains the go-to firm for many multinational and domestic developers, promoters, tourism and leisure companies and investors; including international real estate funds, Mexican CKDs, CERPIs and FIBRAs. In recent highlighted work, the team advised Telesites and its wholly owned subsidiary, Operadora de Sites Mexicanos regarding the first ever Mexican real estate investment trust designed to invest in telecom towers. The matter was led by Monterrey-based partner Badir Treviño-Mohamed, who according to a client is an ‘exceptional real estate attorney’. The renowned practice includes other outstanding practitioners such as Monterrey-based Francisco Montalvo, who co-heads the department together with Carlos de Icaza in Mexico City, whose solid real estate practice is strengthened by considerable expertise in environmental law; additional key figures include Carlos del Río (also in Mexico City), who specialises in acquisitions and divestitures, investments and joint ventures in Mexico across multiple industries and sectors; and ‘brilliant’ senior associate Alfonso Pulido.

Practice head(s):

Francisco Montalvo; Carlos de Icaza


‘The firm stands out for the depth, experience, and expertise of its real estate team. They have a a deep knowledge and understanding of the industrial and commercial real estate industry and are very thorough, efficient, and effective in their approach to transactions of this nature.

‘They always anticipate our needs and are great at identifying, assessing, and addressing risks.

‘Badir Treviño is an exceptional real estate attorney with strong legal-technical skills, a deep understanding and knowledge of the commercial and industrial real estate industry, and a commercial approach to transactions.

‘Alfonso Pulido is a brilliant real estate associate. He is thorough, diligent, responsive, and has many years of experience in real estate transactions.

‘Hard-working, skilled, and thorough team. Badir Treviño is very knowledgeable and has a deep commercial understanding and sensitivity.

Key clients

FIBRA Macquarie Mexico

Work highlights

  • Advised FIBRA Macquarie Mexico regarding the incorporation of a joint venture trust agreement, along with the incorporation of a special purpose vehicle and ancillary documents required to develop and manage an industrial park
  • Advised a FIBRA client on the acquisition of the Parque Grande industrial park located in the State of Mexico, Mexico (total surface area of 3.9m square feet).
  • Counsel to both the purchaser and the seller in a sale and leaseback transaction concerning a multi-jurisdictional portfolio including real estate located in Nuevo Leon, Mexico.

Greenberg Traurig, S.C.

International firm Greenberg Traurig, S.C., garners praise for its ‘extensive knowledge of everything related to the legal framework of the real estate sector’, thanks to its sturdy 11-strong practice, which has the capacity to serve a healthy range of market-segments in the sector, such as residential, industrial, commercial, mixed-use, and hotels – where the team has gained a particularly strong client roster. Department head Antonio Diez de Bonilla is a fully-fledged real estate specialist, who is particularly active in M&A, joint ventures, real estate financings and development transactions across various industries (including hospitality and retail); while fellow partner Gerardo Carrillo provides wide-ranging knowledge of residential, commercial, industrial, and hospitality projects. Senior associates Roberto Guerrero and Julio Sardina are other highlighted members of the Mexico City office team, which is backed by the firm’s international network. The department’s strong client base also includes property developers, lenders, investment managers, private equity funds, REITs, operators, sovereign wealth funds, international developers, and private owners.

Practice head(s):

Antonio Diez de Bonilla


Great team. Antonio Diez de Bonilla is a great professional, with a lot of experience in the hotel industry. Always available and willing to support us with any questions.’

I recommend Antonio Diez 100%, I have no doubt that we will continue to rely on GT and specifically on Antonio for our expansion in Mexico.

Excellent technical knowledge in the field and personal attention to the partners.’

The way they get involved in the issues is exceptional, they actively participate in the creation of solutions always with an innovative vision.

Gerardo Carillo and Roberto Guerrero are exceptional. They are without a doubt a key part of all our real estate transactions.

I highlight the diversity in the team, the specific knowledge applied to each case and above all that great human touch without losing professionalism.’

Extensive knowledge of everything related to the legal framework of the real estate sector. Gerardo Carrillo has extensive knowledge of the Mexican market and different types of assets.’

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

  • Represented Hyatt Hotels in negotiations with Bancomext regrarding the restructuring of loan related to several hotels, built and under construction.
  • Assisted ICM Inmobilien with the structure of its joint venture with two developers for the development of 12 residential projects and two hospitality projects in Mexico.
  • Representing Desarrolladora del Parque on a land acquisition with Opera Desarrolladora for their joint venture development of a mixed-use project in Mexico City’s high-end Polanco area.

Mijares, Angoitia, Cortés y Fuentes S.C.

Stand-out practitioner Lorenza Langarica, who regularly advises on local and cross-border procurement and joint venture activities, co-heads the 16-strong practice at Mijares, Angoitia, Cortés y Fuentes S.C., together with Eugenio Macouzet, who handles the legal and regulatory aspects of real estate investment in the commercial, residential, hospitality and industrial segments. The ‘excellent practice’ includes two specialised sub-groups; one focused on tax and the structuring of real estate deals, while the other undertakes the contracting of rights of way, rights of use and similar structures necessary for infrastructure projects such as roads, gas ducts, energy plants and wind farms. The experienced Manuel Echave, who is a popular choice for developers and promoters to manage financings for the purchase or construction of real estate projects; 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


‘Excellent practice, very attentive, the best law firm we know to date.’

‘They are qualified lawyers, committed to quality and responsiveness to clients.’

‘They have a great legal and professional background, as well as technical knowledge in the real estate sector. The availability and attentiveness with which they play their role in the services they provide is unmatched in the sector.’

Key clients

Be Grand

Goldman Sachs Real Estate

Grupo Xtra

Parks Hospitality

Advance Real Estate

Hermes Desarrollos Turistícos

Banco Sabadell

Metropolitan Life Insurance Company

Fibra Monterrey

Grupo Presidente


Work highlights

  • Advised Fibra Mty on its $100m, first offering of Certificados Bursátiles Fiduciarios under the multi-shelf program of CBFIS and Cebures, authorised by the National Banking and Securities Commission for an amount of up to MXN$10bn.
  • Advised Be Grand on the implementation of the legal structure to carry out a real estate development for residential, commercial and office use.
  • Advised MetLife on the financing for the $75.8m acquisition of an industrial real estate portfolio by Walton St. Capital.

Nader, Hayaux y Goebel, SC

Real estate is one of Nader, Hayaux y Goebel, SC‘s core practice areas, so it’ s no surprise that the firm has a powerful, 22-strong team dedicated to the sector, in which it is well-known for its robust capabilities in a wide range of matters; it particularly excels in real estate financing, but also demonstrates solid expertise in real estate fund formation, having previously developed work on REITs and CKDs. The department has proven experience in the tourism and leisure industry, and is composed of skilful and experienced partners with additional expertise in finance, capital markets and M&A, such as: the renowned Michell Nader, who has enormous expertise in real estate finance; Vanessa Franyutti, who stands out for her market-leading expertise in the hospitality segment, as well as her focus on financial aspects across the retail, residential and industrial markets; Eduardo Villanueva, who is well-versed in handling acquisitions and fund formation; and Alejandro Rojas, who has a broad corporate and finance practice and a particular focus on the hospitality sector. Fellow partners Javier Arreola and Julián Garza (who provides key support, particularly as regards fund formation), are other noted members of the team.

Practice head(s):

Michell Nader


‘It is a team focused on achieving results by balancing the points of view of both parties.

‘Eduardo Villanueva, partner in the financing practice, actively participates in transactions. He knows how to delegate but is always on top of the transaction.

Key clients


Prudential Real Estate Investors / Prudential Mortgage

Grupo GDI / FibraHotel


Credit Suisse

Inmobiliaria Helmer

Grupo Murano


Banco Sabadell

HSBC Mexico

BBVA Bancomer

Work highlights

  • Advising Grupo Murano on a proposed joint venture, association and/or services arrangement with Jones Lang LaSalle regarding the development and management of properties that will operate as hotels in Mexico City and Cancun.
  • Advised Bancomext on a $75m increase in the line of credit under a secured financing to Fibra Nova to result in a total amount of $125m for the acquisition and/or development of industrial properties.
  • Advised MREIT as lender, together with Banorte, on a secured $140m financing to Promotora Amaneceres del Caribe to pay existing debt and for working capital related to the W Cancun Hotel.

Ritch, Mueller y Nicolau, S.C.

‘Accustomed to handling large transactions without being affected by the pressure associated with them’, the 21-strong practice at Ritch, Mueller y Nicolau, S.C., also garners recognition for being ‘able to find the solution when paths are not obvious’. Practice-head Rodrigo Conesa is a seasoned market player with a sturdy track record in real estate financings, acquisitions and developments – on behalf of both lenders and developers; while fellow partner Javier Domínguez Torrado has a focus on real estate operations and financing (involving debt and equity placements in Mexico and abroad, secured and unsecured financing, and mergers and acquisitions). Ricardo Calderón, in turn, advises on real estate as part of a broader practice (taking in banking and finance, M&A and compliance), and has been particularly active working with a consortium in relation to the establishment of joint ventures for the development of residential projects. Key support is provided by senior associates Héctor Cárdenas (M&A, real estate and capital markets), and Santiago Carrillo, who is actively involved in financings, acquisitions and developments across real estate asset classes and has a particular focus on industrial and hotel assets. Recent work highlights include advising Walton Street Capital on the $127m acquisition of an industrial portfolio of 15 real estate properties from Terrafina Fibra. Since publication, both Cárdenas and Carrillo have been raised to the partnership, while Conesa has moved to an of counsel position at that firm –all moves being effective as of January 2022.

Practice head(s):

Rodrigo Conesa Labastida


‘A leading team with extensive real estate transactional experience, accustomed to handling large transactions without being affected by the pressure associated with them.

‘They are able to find the solution when paths are not obvious, always looking out for their client’s interests and legal security.

‘Javier Dominguez Torrado has experience that few lawyers share nationwide. He can structure a transaction in an innovative way and does not waste time in pointless battles.’

‘We have been relying on Rodrigo Conesa and his team for 12 years; they have a high level of preparation, experience and work discipline.’

‘They are very pragmatic. They do not sell legal services, but advice that translates into economic benefit for us.’

‘Rodrigo Conesa and Santiago Carrillo, besides having outstanding technical and legal talent, have the characteristic of thinking like businessmen, always thinking in the most practical way.

Key clients

Acosta Verde

Equity International

Walton Street Capital

Fibra Prologis


Artha Capital

Vertex Real Estate Investors

Armar Capital

Work highlights

  • Advised the commercial real estate-focused Acosta Verde on Promecap’s investment in the company, a de-SPACing process and subsequent merger.
  • Advised Armar Capital on the negotiation of a hotel management agreement with Marriot Group; as well as the negotiation of a financing agreement to cover the cost of renovations at the W Cancún Hotel.
  • Advised Walton Street Capital on the acquisition of an industrial portfolio from FIBRA Terrafina.

Baker McKenzie Abogados, S.C.

With partners in in Mexico City, Monterrey, Guadalajara and Tijuana, Baker McKenzie Abogados, S.C. has good coverage to advise on real estate matters and projects almost anywhere in the country. Hailed for offering good results and always going ‘beyond expectations’, the 11-strong practice is known for its capabilities advising on local and foreign real estate investments and associated aspects, including legal due diligence; acquisitions, sales and leasing; and the development of all types of real property and projects, joint ventures, project development (via PPP), along with REITs and CKDs, among other matters. The practice is co-led by partners: Juan Bernardo Garcia (Monterrey), who specialises in real estate and development law, construction law, infrastructure and major projects; 20-year veteran, Jose Larroque (Tijuana), who has vast expertise advising on the structuring of cross-border real estate transactions for the acquisition, development and financing of projects; and Fabian Monsalve-Agraz (Guadalajara), who has a focus on real estate and infrastructure and hotel resorts and tourism. Senior associate Gabriela Saucedo is another name to note.

Practice head(s):

Juan Bernardo Garcia; Jose Larroque; Fabián Monsalve


‘Their commitment and professionalism shown on the sale and lease back project we undertook was great, beyond expectations. They really care about the project and give great results.

‘Updated knowledge about regulations, schedule management on time and budget.

Key clients

United States Department of State

Starwood Hoteles & Resorts Worldwide








ABC Group


Koch Industries

Nidec Americas Holding Corporation


St Clair Technologies



Best Buy

Work highlights

  • Advising Best Buy on its market exit strategy to close down operations throughout Mexico, which includes the strategy for the sale of part of its business/assets and implementation of the same.
  • Advising the United States Department of State on its US Consulate renewal/relocation program for a number of cities in Mexico.
  • Advised Lowe’s on its market exit strategy to close down operations throughout Mexico.

González Calvillo, SC

Hailed as an ‘excellent firm’, González Calvillo, SC houses an accomplished nine-strong practice, which enjoys a good reputation in the real estate arena. The team is a popular choice for developers, lenders, investment banks and funds, as well as for large corporations, particularly for the lawyer’s dexterity handling real estate project development and related corporate and financing matters, as well as acquisitions, sales and joint ventures. All this while also taking care of pro bono work; as stated by a client, the firm is ‘committed to social causes‘. Heading the group are dedicated practitioners Alfredo Chávez Goyeneche, who represents clients from wide variety of industries on primarily transactional and investment matters; and Gonzalo Vargas Ateca, who is also particularly active in the acquisition and sale of real estate assets. Key support comes from senior associate Paulina Sellerier.

Practice head(s):

Alfredo Chávez Goyeneche; Gonzalo Vargas Ateca


The firm provides pro bono service to a nonprofit that works in education in vulnerable communities throughout Mexico. They service us as if we were a paying client.

They firm is committed to social causes.

We couldn’t ask for better lawyers.

Excellent firm. One of our go to firms in Mexico. Alfredo Chavez is particularly strong. Always enjoy working with him.

Very professional in providing the right information and timely advice. Prompt response, immediate and timely attention and on the right track. Alfredo Chavez.

The partners have exceptional knowledge of the issues, always maintain great communication and give great support during the management of the project.

Key clients

Avviare Inmobiliaria

Baker Hughes International


Canamex International

InterContinental Hotels Group


International Workplace Group (“IWG”)

Reichmann International

Twin City Hide

UST Global




Work highlights

  • Advising Reichmann International on the management and operation of its diverse buildings portfolio in Mexico City, including the iconic Torre Mayor and Torre Diana.
  • Advising Arcos SerCal Inmobiliaria with the preparation, negotiation and coordination of the execution of all of its lease transactions in Mexico.
  • Advised DuPont Mexico affiliate, Danisco, on the sale of a large industrial plant in the industrial area of the State of Mexico to Corporate Properties of America (CPA).

Ibarra, del Paso y Gallego

Praised for its lawyers ‘attention to detail and mastery of the real estate industry', Ibarra, del Paso y Gallego houses a 12-strong practice which stands out for its capabilities in hospitality and transactional real estate, which are reinforced with additional expertise in environment, corporate/M&A, and energy and infrastructure. Co-led by founding partners Gerardo Gallego and Carlos Ibarra, as well as fellow partner Rodrigo de los Ríos, the department primarily handles the development and operation of timeshare regimes, acquisitions, financing, leasing and real estate sales, along with rights of way and easements and property regularisation. Senior associate Sandra Jiménez and counsel Alejandra Gutiérrez are also noted.

Practice head(s):

Carlos Ibarra; Gerardo Gallego; Rodrigo de los Ríos


Attention to detail, mastery of the real estate industry and easy access to partners. Carlos Ibarra and Gerardo Gallego have tremendous subject matter expertise.

The services provided by this firm are professional and the advice is innovative, adding value to clients and in-house counsel. The outstanding partner is Carlos Ibarra. They keep up to date on relevant issues and propose solutions tailored to their clients’ needs.

The team at Ibarra, del Paso y Gallego is very well prepared and provides personal attention from the partners to their clients. I find this personal attention unique and the client service extraordinary.’

‘Carlos Ibarra has gone above and beyond to help out in professional situations, industry meetings and even pro-bono work that has helped move forward in complicated situations. His positive attitude and generosity are truly exceptional.’

Key clients



Alcon Laboratories


Grupo Blq



Grupo IGS




Grupo Radio Formula

Work highlights

  • Advised Marriot Vacations Worldwide Corporation on regulatory matters regarding its operations in Mexico, as well as hospitality-related matters.
  • Advised the Only For Group on the acquisition of a controlling interest in Strive Pharmaceuticals and Simpex Pharmachem; matter value $15m.
  • Advising Grupo GEMSA on the development of a tourist and residential project located in the city of Acapulco, Guerrero state.

Santamarina y Steta

Practice head Vicente Grau is an active figure in the transactional real estate arena, as part of a broader practice that also takes in economic competition, antitrust and estate planning; he leads Santamarina y Steta's 11-strong practice group, which covers a broad range  of matters, from the acquisition, leasing, development, construction and sale of real estate, to related financing structures and securitisation, including the contribution of properties to FIBRAS, CKDs, and guarantee trusts. Grau works closely with fellow Mexico City-based partner Aarón Levet, who has broad experience in M&A, joint ventures and financing for the hospitality and industrial real estate segments. Key support comes from Claudia Rodríguez, who focuses primarily on the industrial, retail and residential segments; and senior associate Isaac Zatarain (real estate, natural resources, renewable energy and environmental law).

Practice head(s):

Vicente Grau

Key clients


Invex Infraestructura


Accor Hotels

Industrias AlEn

Fondo Mexicano para la Conservación de la Naturaleza

Bartlett Grain

Ganfeng International Trading



Martinrea International

Stryker Corporation

GMH Hotels & Resorts

Work highlights

  • Advised and represented Stryker on the lease and construction of an industrial facility in the State of Baja California.
  • Assisted GMH in the analysis of the process to disincorporate several parcels from the agrarian regime and advised them on the permits and authorizations required for the construction of a sustainable tourism development.

Trujillo Abogados

A spin off from Galicia Abogados S.C. established in August 2020, specialist boutique Trujillo Abogados houses an ‘experienced and cohesive team that has full knowledge of the real estate market’. Operating from offices in Monterrey and Mexico City, the nine-strong team advises on a wide range of matters, including investment vehicles, joint ventures, and the acquisition, development and sale of all types of real estate assets in Mexico. In addition, the practice is highly specialised in real estate financing. Name partner and practice head Alejandro Trujillo is highly regarded in the industry as well as the legal market as a result of his lengthy background as a general counsel in the sector, making him an ideal client choice due to his ‘sensitiv[ity] to the business-side of the business’; he has profound expertise in real estate transactions and financing. Additional expertise and capacity is provided by younger partners Alejandra Boj (in Monterrey), whose background includes in-house experience at both GE Capital Real Estate and MMREIT; and Miguel López, whose broad experience takes in transactional matters, the structuring and implementation of real estate projects and, in particular, mandates involving real estate trusts; both are highly regarded. Marian Garcia is also noted.

Practice head(s):

Alejandro Trujillo


‘Trujillo Abogados’ advice comprehensively encompasses both a legal and business perspective. Alejandro Trujillo and Miguel López have a great willingness and ability to address the concerns of the different areas of the company involved in the transactions.

‘Excellent attention and availability. Federico Villarreal has extensive and outstanding knowledge of infrastructure and industrial matters. Oscar Arroyo has extensive negotiation skills and has excellent availability to resolve any complications that may arise in the closing of matters.’

‘It is an experienced and cohesive team that has full knowledge of the real estate market. Many years of experience in the sector. Alejandro Trujillo is charming, and a real rock star. He always comes up with creative solutions.’

‘Alejandro Trujillo, Alejandra Boj and Marian García, have been part of large companies specialized in the real estate sector, as well as part of the most renowned law firms in Mexico. This has allowed them to become sensitive to the business-side of the business, without losing the transactional experience.’

’Total availability on the part of the whole team, always from a pro-business perspective. Great capacity to provide solutions to the problems we present.

‘Outstanding lawyers: Alejandro Trujillo, Alejandra Boj, Miguel López.  The team has gender diversity, half of the partners are women,

‘Boutique, specializing in real estate and all sectors. Creative structures oriented to accommodate business needs.

‘The level of service and follow-up is unique. They are very dynamic and understand the industry very well.

Key clients

Alsis Funds


Advance Real Estate



Corporate Properties of the Americas

Credit Suisse


Fibra Monterrey

Fibra Terrafina


Frontera Development

General Electric


Grupo Zapata

Hilco Real Estate


Macquarie Infrastructure and Real Assets


Mexico Retail Properties

Newmark Knight Frank


One Development Group



PSP Canada Pension Fund



The Plaza Group

Wafra Capital Partners

Walton Street Capital

Washington State Pension Fund

Work highlights

  • Advised a Mexican investment fund managed by Credit Suisse (“MCRF P”) on the granting of a MXN$616m loan to Marhnos Vivienda.
  • Advised Mexico Retail Properties on a joint venture with Pulso Inmobiliario to acquire and manage the Fortuna shopping centre in Mexico City.
  • Advised Finsa on the acquisition of a $25.5m industrial portfolio of properties located in Jalisco from Prologis.

Cannizzo, Ortiz y Asociados SC

Seasoned boutique firm Cannizzo, Ortiz y Asociados SC has decades of experience advising on complex real estate finance, acquisitions, sales, development and workout matters in Mexico, and having participated in some iconic “mega-developments” across the country. The team is comprised of notable practitioners, including: corporate experts Carlo Cannizzo (real estate, infrastructure and construction; corporate, finance and M&A), Roberto Cannizzo Consiglio (corporate, M&A and real estate – particularly cross-border and multi-jurisdictional transactions); Stefano Amato (real estate, corporate, finance and M&A, with particular niche strength in the purchase and sale of hotels);Enrique García (real estate acquisitions, structured finance and securitisation; construction matters and government procurement); and Mauricio Moreno , whose broad experience sees him focus on corporate law and business matters related to real estate and tourism. Key associate support comes from senior Vanessa Romero; her practice centres on transactional and regulatory counselling in the financial and telecommunications sectors, along with compliance matters.

Practice head(s):

Carlo Cannizzo; Roberto Cannizzo

Key clients

Playa Hotels & Resorts

Ermenegildo Zegna

Work highlights

  • Acted as Mexican counsel to The Friedkin Group on its $16m acquisition of the second stage of the Chileno Bay Resort Hotel.
  • Advised on a store lease agreement located in the luxury area of Mexico City, obtaining execution of the agreement on terms satisfactory to the client.

CMS Woodhouse Lorente Ludlow

With over 20 years covering all aspects of the structuring and financing of real estate developments in industrial, residential, hospitality, office and mixed-use projects, CMS Woodhouse Lorente Ludlow's real estate practice has a strong track record in the sector and is praised for its ‘availability and personalised treatment. Partner César Lechuga heads the team, specialising in transactional real estate with a primary focus on the industrial, logistics, commercial, office space and retail segments, as well as on the real estate requirements for wind and solar projects. Real estate and infrastructure expert, Enrique Lorente Ludlow is a long-standing market presence who provides key input advising on developments and investments for domestic and international organizations. María José Estrada provides key associate support on real estate, project finance and corporate matters.

Practice head(s):

César Lechuga


‘Availability, personalised treatment, quick response, and extensive knowledge of the subject. César Lechuga and Maria J Estrada.’

Key clients

Opera Desarrolladora

Deka Inmobilien

Union Real Estate Investment


Quiero Casa

Family Land Owners


Work highlights

  • Advised Opera Desarrolladora on the tax efficient structuring of the development of residential, retail and commercial buildings on property owned by third parties in San Miguel de Allende, Guanajuato and La Corregidora, Querétaro.
  • Advised Cinépolis on the assignment of direct and indirect rights regarding its Paseo de la Reforma in Mexico (a mixed-use real estate project of commercial, residential and corporate space development), to the trust called “Fibra SOMA”.
  • Day to day real estate legal management of all class-“A” office buildings owned by Deka Inmobilien in Mexico City (Terret Polanco, PWC, Corporativo Reforma Diana and Torre de los Parques buildings).

Hogan Lovells

Operating from Monterrey and Mexico City (and backed by the firm’s global network), international full-service firm Hogan Lovells fields a nine-strong Mexican real estate practice, which is lauded for going ‘above and beyond to help its clients’. The team, which has vast experience in complex real estate transactions – including those related to public offerings, financing matters, collateral and co-investments for real estate projects – is co-led by Mexico City-based partners Ángel Domínguez de Pedro and Juan Francisco Torres Landa1, in conjunction with Guillermo González Frankenberger in Monterrey. All three are civil, corporate and commercial experts with a focus on real estate, project finance, M&A and shareholders disputes. Counsel Fernando Medina Luna, who goes ‘above and beyond to assist‘ with work ‘under tight deadlines’, and senior associate Luis Lauro González, are additional key figures in the practice group.

Practice head(s):

Juan Francisco Torres Landa; Ángel Domínguez de Pedro; Guillermo González Frankenberger


‘They know the sector very well and have extensive experience in each of the service lines.

‘Always responsive and very thorough on follow up.

‘Fernando Medina Luna went above and beyond to assist us with our work under tight deadlines. Customer service interaction is very thoughtful and helpful.

‘Their team goes above and beyond to help its clients.’

Key clients

Walmart de México

Ford Motor Company

The Walt Disney Company México

Federal Mogul

CTL México Landing

Parks Desarrolladora

Namnum Management

TBC México

Imerys Ceramics México

Grupo Palacio de Hierro

Finsa Portafolios

Work highlights

  • Advised Finsa Portafolios on the execution of a sale and purchase agreement concerning two plots of land in Santa Catarina (Nuevo Leon), and on a build-to-suit lease agreement for the construction of a multi-tenant building.
  • Advised Finsa Portafolios on the due diligence, drafting and negotiation of the financing, and acquisition of industrial properties located in the Mexican states of Coahuila, Nuevo Leon, Sonora and Guanajuato.
  • Advised Cooper Tire & Rubber on the drafting and negotiation of transactional documents, to increase its equity participation from 58% to 100% in Corporación de Occidente, a company that owns the Cooper Tire manufacturing plant in Mexico.

Holland & Knight

Holland & Knight's Mexico office -recently notably expanded following the firm's combination with the form Thompson & Knight- houses a 11-strong real estate team, which stands out for its impressive cross-border capabilities as well as for its particular expertise in placing Mexican real estate investment trusts ("FIBRAS") and capital development certificates ("CKDs"). This has allowed the practice to secure notable clients such as Fibra Uno, the first and largest Mexican Reit, which has relied on the firm since its initial public offering in 2011. The team is led by recognised practitioners Guillermo Uribe, who has a focus on real estate finance matters related to banking and securities law, international capital markets, structured finance and syndicated loans. Additional partner-level expertise is provided by Adrián Gay Lasa, who is particularly known for his work on REIT-related work. Key support comes from experience senior Jorge González Carlini, who primarily handles real estate finance matters. The energy, finance and transaction-focused Alejandro Landa also participates in real estate matters on an ongoing basis.

Practice head(s):

Guillermo Uribe

Key clients

Fibra Uno

Bricks Acquisition Company (Special Purpose Acquisition Company)

Fibra Inn

Work highlights

  • Represented Fibra Uno in connection with a $650m senior notes issuance.
  • Advising Bricks Acquisition Company on its initial public share offering to create a SPAC for an amount of approximately $100m.
  • Advised Fibra Inn on the negotiation and restructuring of the financial covenants of its FINN 18 debt issuance.

Kuri Breña, Sánchez Ugarte y Aznar

‘A first-class team of lawyers who are leaders in their field’, Kuri Breña, Sánchez Ugarte y Aznar‘s seven-strong real estate practice is perhaps best known for handling leasing and real estate development matters. Nevertheless, it is also active on financing and the securitisation of cash flows originating from real estate properties; joint ventures; and cross-border transactions including acquisition, divestitures, leasing; and the development of industrial, hospitality and commercial properties. Heading the team are seasoned partners Luis Octavio Núñez (‘just the legal advisor a company should have’), and Guillermo Garay, both of whom have a solid track record participating in a wide variety of deals involving real estate. Key support comes from senior associate Elizabeth Tovar.

Practice head(s):

Guillermo Garay Espinosa; Luis Octavio Núñez Orellana


‘Excellent team of lawyers ready to take control of matters from start to finish. This is the best value for money real estate team. A first-class team of lawyers who are leaders in their field.

‘Luis Octavio Nuñez Orellana is a top level lawyer, with extensive experience in the real estate sector. He is practical, focused on closing the transaction, knowledgeable about his client and an excellent decision maker.

‘Luis Octavio Nuñez Orellana knows how to identify the sensitive points within a real estate transaction, he is just the legal advisor a company should have.

‘For us they are the perfect partner in whom we fully trust to achieve our goals.

Key clients

Vinte Viviendas Integrales





Work highlights

  • Advised Vinte Viviendas Integrales on a public issuance of “sustainable” bonds on the Mexican Stock Exchange, backed by real estate sustainable projects qualified as green and social by Sustainalytics.
  • Advised Prologis on various real estate acquisitions for warehousing and logistics facilities, including suburban and last touch locations, as well as lease back and long-term leases with institutional clients.
  • Legal advice to Terrabrio regarding a joint venture and the development of large real estate project (mixed-uses) in Mérida, Yucatán.

Pérez Correa González

The five-strong practice at Pérez Correa González houses ‘deep knowledge of the real estate sector’ and gains clients praise for ‘always anticipating possible risks and complications’. Name partner Luis Gonzalez, whose ‘excellent technical quality and knowledge of the market make him the best choice’, heads the department. He specialises in corporate and transactional work, including M&A, joint ventures, and cross-border financings. He is closely backed by fellow partner Omar Aguilar, a June-2020 hire from Bowker who is located in Vancouver, Canada, and who concentrates on financial and commercial transactions and the structuring and negotiation of joint ventures and M&A. Key associate support is provided by experienced senior Juan Carlos Izaza (corporate, M&A, real estate and private equity law).

Practice head(s):

Luis González


‘They have a group of lawyers with extensive specialisation in the sector. They have always offered us solid legal assistance, characterised by a strong cross-cutting component (regulatory, corporate, financial, tax, etc.).

‘Deep knowledge of the real estate sector, always anticipating possible risks and complications.

‘Pérez Correa González stands out for its specialised legal knowledge and learning capacity.

‘In particular, I would like to highlight Luis González who, apart from possessing great negotiating skills and a great capacity to seek and propose alternative solutions, is extremely rigorous and methodical in his work. His excellent technical quality and his knowledge of the market make him the best choice.

‘They are great experts in their areas, they are prepared people who can integrate into any type of talk, meeting, team or discussion and they are ethical people with whom you can even maintain a friendship.

Their publications and analysis in the media about changes in Mexican and foreign laws that impact us are very important.

Key clients



New Indy Container Board

Work highlights

  • Advising Akivinta on structuring the purchase, and subsequent regularisation, of a plot of premium upscale mixed-use residential land.
  • Ongoing advice to BigWhite, Puerto Morelos Aventura and Daxi Family Group regarding the purchase and regularisation of premium upscale mixed-used residential land.
  • Represented New-Indy Containerboard on the acquisition of Reliable Container and involving two real estate properties used for maquila activities in Tijuana, Baja California.

SMPS Legal

SMPS Legal's ‘incredibly dedicated’ eight-strong practice has an extensive track record advising on all types of real estate and asset transactions, including sales and purchases, leasing, financing, development and construction, and liens on real estate assets, as well as handling audits, and regulatory, tax and environmental matters. The team, praised for its capacity to ‘think out of the box’, is jointly led by María Teresa Paillés, who holds a strong focus on transactions in the hospitality industry; María Esther Rey, who has over 20 years' experience in real estate and corporate transactions (both arrived from the former Romo Paillés in April 2020); and the ‘very knowledgeable’ Andrés Pizarro, who is especially skilled at handling complex trusts, trust operations and FIBRAs. Key support comes from Eduardo Pizarro, who has particular expertise in the financial and energy sectors.

Practice head(s):

María Teresa Paillés; María Esther Rey; Andres Pizarro Suárez


‘The team is very organised and punctual with delivery – and they are incredibly dedicated.

‘They have a deep knowledge of their subject matter. I work very closely with Andrés Pizarro Suárez, a very knowledgeable lawyer, always very attentive to detail, honest and transparent. It is a luxury to work with him, and also with Eduardo Pizarro.

‘Recent hires show us that they are concerned about being inclusive and increasing the number of women leaders in the practice.

‘The SMPS team manages to provide an exceptional service by combining deep experience in different areas and by being able to think out of the box.

‘Jorge San Martin and Andres Pizarro stand out from other lawyers in client service, creativity and combination of legal and tax issues.

Key clients

Operadora Meor

Cimbra Capital

Paladin Realty

Fortem City Towers

Promotora Valle de Bravo


Vive de las Rentas

Rincón Gallardo Family – Solar Projects

William Grant & Sons

APX Inmuebles

Pesorama Inc

GD Holdings

Work highlights

  • Advised Operadora Meor on its co-investment with GF5 Group to develop a 79.6 hectares lot to construct, develop and lease warehouses in Tijuana, Baja California, Mexico.  
  • Representing Cimbra Capital on all aspects of the acquisitio of two real estate plots – one in Tijuana, the other in Mexico City – for luxury residential developments.
  • Advised Paladin Realty on negotiations with GICSA for the sale of a 21.76 acres real estate lot located in Cancun.

Sánchez Devanny

Operating from Monterrey and Mexico City, Sánchez Devanny boasts a ‘highly qualified’, nine-strong practice that is able to ‘provide solutions to complex issues’. The team, which is a popular choice among national and international developers, investors and retailers, is co-led by Monterrey-based partner Rafael Villamar-Ramos, who has substantial experience in industrial, commercial and residential real estate acquisition and leasing transactions; and Diego Gómez Haro, who focuses primarily on real estate transactions, including structuring investment vehicles, the acquisition and sale of assets, leasing, project development and construction, due diligence and financing. Further partner-level expertise is provided by Alfredo Villarreal Hansmann, who is experienced at handling lease agreements, acquisitions, the construction of industrial facilities, and commercial, hospitality and residential projects. Intermediate associate Alonso Sandoval (M&A, corporate law, real estate, and lending & secured finance), is also noted.

Practice head(s):

Rafael Villamar-Ramos; Diego Gómez-Haro Katznelson


The team is highly qualified to provide solutions to complex issues, taking care at all times to comply with the regulations established by the different practices that may be involved in the project (legal, tax, labour, etc.).

It is a team that has an incredible availability and seeks to resolve disputes for the benefit of the business and always protecting the client. They are very up to date with all the new reforms that have been discussed and are coming into force in the country.

Diego Gómez-Haro has a great capacity to negotiate and reach the necessary agreements to close transactions. Alonso Sandoval has the ability to translate negotiations with clients or counterparties into documents. Eduardo Frashcetto is an excellent national and international litigator.

They have a good knowledge of the industry, are very conciliatory lawyers and facilitate deals.

They have a high level of efficiency and specialization in real estate, in addition to correctly diversifying the solutions through the areas and lawyers that form part of the firm (real estate, management and litigation), which provides us with better service.

Diego Gómez Aro has provided us with the advice we require to define strategies for decision making and to carry out favourable negotiations, litigation partner Alfonso López provided us with an efficient legal perspective to prevent any contingency.

Key clients


H&M Hennes & Mauritz

Ikano Industries / IKEA

Giorgio Armani


Under Armour

Sally Beauty Supply

IMPRO Industries


Wynnchurch Capital

Advance Real Estate


Grupo Finka


Global Asset Capital



American Eagle

Metal Technologies Component

Tempel de Mexico

IMPRO Industries Mexico

Grupo Ketsali

Blackstone Group

Addem Capital

Owl Ventures

Subway International

Publicis Groupe

Fibra U-Storage

Grupo BeGrand

Grupo Avante

Carr Capital


IMCD Group

Work highlights

  • Assisted IKANO Group, which operates IKEA’s business in Mexico, obtain a $52m green loan to build a furniture manufacturing plant in northeast Mexico.
  • Advised Wynnchurch Capital on the Mexican portion of the acquisition of Labrie Environmental Group.
  • Advised Grupo FINKA on the real estate aspects of a joint venture with Equilibrium Capital for agro -industrial investments in Mexico.

Basham, Ringe y Correa, S.C.

Four corporate partners lead the real estate practice at full-service Mexican firm Basham, Ringe y Correa, S.C., which has niche strength in sectors such as retail and hospitality. Noted practitioners include: senior partner and head of corporate Daniel Del Rio, who has deep experience of M&A transactions and a specific focus on real estate; Amilcar Garcia specializes in retail for luxury brands as well as on industrial and health sector real estate matters; managing partner Juan Jose Lopez de Silanes is particularly strong in the areas of planning and execution of national and international transactions; and Jesus Colunga is a hospitality expert. At associate level, seniors Gerson Vaca (corporate and transactional matters) and Ricardo Evangelista (with regard to environmental aspects) both lean in to the practice.

Practice head(s):

Daniel del Río; Amilcar García and Juan Carlos Serra

Chávez Vargas Minutti Abogados

Regarded by some clients as the ‘ideal partners’ for real estate matters, boutique firm Chávez Vargas Minutti Abogados, handles a healthy range of real estate finance and transactional mandates across the residential, commercial, office-space, hospitality, education, industrial and agricultural segments. The practice is co-led by name partners José Antonio Chávez and Brian Minutti, who are closely backed by Alejandro Carreño, who made partner in September 2021. Recent work highlights include advising Banco Santander Mexico on the $50m financing of a project in Los Cabos (BCS, Mexico), including a St. Regis Hotel, vacation villas, and other amenities.

Practice head(s):

José Antonio Chávez Vargas; Brian Minutti Aguirre


‘They have exceeded expectations. They are the ideal partners for our operation and new projects.’

Key clients


QO Anzures


Banco Santander Mexico

Grupo Habiqo

Tierra y Armonía

Construcciones MS

Work highlights

  • Advised VRE on the acquisition of two buildings in Mexico City through a structured deal.
  • Advised QO Anzures (Distum) on the creation and implementation of providing  apartments via financial leasing.
  • Assisted Yavo Capital create a legal structure to fund housing projects on behalf of INFONAVIT.

Creel Abogados, SC

Benefitting from a well-established practice that has built experience over more than 40 years, the real estate practice at Creel Abogados, SC is today led by partners Jorge Torres and Gustavo Struck. The pair regularly lead advice to Mexican and foreign clients -including investment banks, financial institutions, corporations, real estate funds, real estate developers, and hospitality and retail companies- in matters ranging from title analysis to more complex transactions (including hospitality project development, agrarian law, retail, residential, industrial and office-space matters). Of late, the practice has primarily been focused on assisting clients with restructuring lease agreements, selling assets and refinancing real estate-backed loans.

Practice head(s):

Gustavo Struck; Jorge Torres

Key clients


Exclusive Resorts

Grupo Desarrolla

Danone de Mexico

Starwood Hotels and Resorts Worldwide

Kerzner International

Grupo Positano

Grupo Institucion

Gestamp / Edscha

Grupo Inmobiliario Los Bravos


Maristas Brothers

Fibra Cars

Kerzner Group

Sercotel Hotels


Promotora y Desarrolladora Mexicana

One Rock Capital Partners

Parker Hannifin (NYSE: PH)

Lone Star International

Misión del Sol Hotel & Spa

Cuesta Campos y Asociados S.C.

Clients regard Berenice Soto, head of the real estate practice at medium-sized, full-service firm Cuesta Campos y Asociados S.C., as a ‘trusted colleague’ as well as a ‘fundamental part of our real estate operations’. The department has been active advising both domestic and foreign entities in real estate transactions for over 40 years; today Soto is a well-known market figure who regularly advises leading developers and transnational corporations on a range of transactional matters for clients from industries including automotive, IT, manufacturing, retail and food & beverages. The practice operates from office in Mexico City, Guadalajara and, notably, the El Bajío region.

Practice head(s):

Berenice Soto


‘The response time and follow up are excellent. Berenice Soto is always available for support with a great attitude and warm service.

‘They are at the forefront of issues affecting the industry.

‘Berenice Soto is a fundamental part of our real estate operations. She is always available, as is Jesus Bueno and the team.

‘The practice is unique, because it works as an extension of our company flawlessly. They know our preferences, strengths and weaknesses and are always spot on.

‘Berenice Soto is exceptional. She is always very professional, prompt in her responses, and has done a fabulous job navigating negotiations between our employees and the landlords legal counsel. She is a trusted colleague.

Key clients



NPA de Mexico

Jabil Circuit de Mexico

Jabil Circuit de Chihuahua

American Standard

Stradley Ronon Stevens & Young



Work highlights

  • Advised Cloe on due diligence regarding its permits and licenses with Mexican authorities, to ensure maintenance of its facilities’ operations across the Mexican Republic.
  • Assisted Brightcove with the negotiation and implementation of amendments to its lease agreements to defer the rent date and prevent the payment of other obligations.
  • Advised Jabil Circuit de Mexico on the preparation and design of a leasing strategy for a large number of their plants as well as termination and substitution of a variety of other real estate-related agreements.

DLA Piper Mexico

Backed by the firm’s global real estate practice capabilities, DLA Piper Mexico's local, six-strong practice offers a broad array of services, including financing, fund formation, acquisitions and divestments, planning, development, construction and leasing. Department head Gabriela Alaña is praised by clients for being a ‘formidable lawyer’ and has particular expertise in ‘build-to-suit’ developments, while her broader practice frequently involves mandates concerning industrial, office, retail and multi-family and resorts projects.

Practice head(s):

Gabriela Alaña


‘They offered us a boutique service. They are very committed and immersed in their client’s needs.

‘Gabriela Alaña is a formidable lawyer. She handles matters directly despite having a team. She has a great knowledge of the subject matter.

Key clients

Grupo Sordo Madaleno

Hilton Hotels

Marriott International

Kimpton Hotels & Restaurant Group

Controladora de Terminales México

General Electric

Real Malinalco

Galicia Abogados S.C.

The real state practice at Galicia Abogados S.C., ‘strikes a very good balance between knowledge of the commercial and industrial real estate industry, and transactional experience and skills’. Following the departure of former department-head Alejandro Trujillo in mid-2020, leadership of the department has been assumed by Ramiro Sandoval (a ‘brilliant negotiator’), who brings extensive experience handling acquisitions and divestitures, public and private joint ventures, structuring and the formation of private equity funds and REITs to the practice primarily, which has a certain focus on mixed-use projects and the hospitality industry. He works closely with fellow partner Rodrigo Rivera, who adds extensive know-how on the financing side.

Practice head(s):

Ramiro Sandoval


‘Rodrigo Rivera stands out for his extensive knowledge in the field, good experience and an unbeatable timely attention.

‘Although small, the real estate team at Galicia Abogados strikes a very good balance between knowledge of the commercial and industrial real estate industry and transactional experience and skills.

‘They are very efficient and savvy negotiators in real estate transactions.

‘Partner Ramiro Sandoval is an outstanding attorney with strong transactional experience and a deep knowledge and understanding of the commercial and industrial real estate sector. He is a brilliant negotiator.’

Key clients

CHPAF Holdings

Promecap Acquisition Company

Tessera Capital

FIBRA Macquarie

Grupo Sordo Madaleno





Orpea Groupe




SMBC (Sumitomo Mitsui Banking Corporation)


Stack Infrastructure

Vertex Real Estate Investors



Banco Sabadell

Work highlights

  • Advised CHPAF Holdings on the acquisition of 27.1% of the capital stock of RLH Properties.  
  • Advised Promecap and Promecap Acquisition Sponsor on their investment in Valores Integrales Inmobiliarios, the holding company of Grupo Acosta Verde, in exchange for 37.98% of the total outstanding shares of Acosta Verde.
  • Advised Tessera on the negotiation and execution of a hotel management agreement with Grupo Presidente and a franchise agreement with Hyatt Corporation.

Jones Day

Partner Manuel Romano heads the five-strong real estate department at Jones Day's Mexico City office, which covers transactions ranging from simple due diligence processes for the purchase or development of land, houses, buildings, plants, hotels and factories, to more complex real estate operations with a significant financing and tax planning component, or assisting with all aspects of environmental considerations. Partner Mauricio Llamas, who has a focus on administrative and regulatory matters, with particular expertise in environmental, health and safety laws and standardisation, is another key figure in the practice, which can also draw on the resources of the firm’s global real estate team of over 100 lawyers.

Practice head(s):

Manuel Romano

Key clients

Lanxess Corporation


Grupo Cinemex

Banco Santander

Work highlights

  • Advised Lanxess on the MXN$48m sale of an industrial site in Cuautitlán, owned by subsidiary Chemtura Corporation Mexico.
  • Assisted Cinemex in connection with an integral review and analysis of its movie-theatre leases throughout Mexico.
  • Assisting Solvay Mexicana on the sale of part of its Monterrey facilities.

Sainz Abogados

Extremely creative and pro-business’, Daniel Saltzberg heads the seven-strong real estate department at Sainz Abogados, which practically maintained the entirety of the team and clients after the dissolution of the former Cervantes Sainz in November 2020. The department covers all areas of real estate with a particular focus on the industrial sector, and regularly advises a broad range of property developers, lenders, investment managers, opportunity funds, FIBRAS and REITs, as well as private owners, on -primarily- sales, acquisitions, joint ventures and the financing of assets. Key support comes from senior associate Ximena Hernández, who specialises in transactions, finance, trusts and corporate and securities matters.

Practice head(s):

Daniel Saltzberg


‘Very good service and customer care. In particular, the solutions they seek are always thinking outside-the-box, which makes them highly competitive and of unparalleled value.

‘Daniel Salztberg is extremely creative and “pro-business”; willing to support his clients in the best possible way and seeks to add value at all times. A very thorough and intelligent lawyer.

‘Ximena Hernández is very organised, responsible and knowledgeable.

‘The experience in the sector and the team’s commitment to each transaction is outstanding.’

‘Excellent subject matter expertise and response times. Daniel Saltzberg’s knowledge of real estate in Mexico gives us a great level of peace of mind in our projects.

Von Wobeser y Sierra, SC

Von Wobeser y Sierra, SC's real estate practice has maintained steady growth during the past few years and now houses a very competitive 10-strong department led by partner Pablo Saez. Drawing from the firm's strengths in corporate and M&A, finance, regulatory, litigation, tax and environmental law, the department handles property acquisition and investment, regularisation, conversion of public and social property (ejidos) into private property, development, management and leasing, financing, restructuring, and the sale of all asset classes of real estate. Fellow partner Alejandro Orellana is another name to note.

Practice head(s):

Pablo Sáez Williams

Key clients

Anheuser-Busch InBev

Benteler International


Parque Eólico de Fenicias (a subsidiary of Invenergy)

Grupo Modelo

Cloud Kitchens

Guadalupe Cogen Center

Institución Confe a Favor de la Persona con Discapacidad Intelectual (CONFE)

German Embassy in Mexico



Vertical Trives

Wollsdorf Holding Schmidt

Energy Development Partners

Manantiales la Asunción

Hella KGaA Hueck & Co

Enel Rinnovabile

Neuman Aluminium Properties México

WRSI de México



Work highlights

  • Advised Cervecería Modelo de México on the acquisition of land parcels for its new brewing facility in the state of Hidalgo, Mexico.
  • Advised Anheuser-Busch InBev on the sale of a distribution center located in Mexico City to Be Grand for the development and construction of a new residential building.
  • Advised Invenergy on the development of multiple (10+) renewable, thermal and clean energy projects across Mexico, with a total capacity of 1.5GW.