Real estate in Mexico

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

Creel, García-Cuéllar, Aiza y Enríquez, S.C. has a truly outstanding real estate practice, composed of 23 first-class experts in the Mexican legal and regulatory aspects of direct or structured investments in (or strategic acquisitions of) property in the industrial, retail, commercial, hospitality, residential and urban sectors. It 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 highlight work, the firm advised Equinix on the $175m acquisition of three data centres operated by Axtel and located in Queretaro. This pioneering transaction (the first of its kind carried out domestically) was led by Monterrey-based Francisco Montalvo, who co-heads the area together with Mexico City-based partner Carlos de Icaza, who has a renowned real estate practice strengthened by considerable expertise in environmental law. Working alongside him in Mexico City, partner Carlos del Río, regularly advises a wide range of clients on acquisitions, investments, joint ventures and divestitures in Mexico across multiple industries and sectors. Last but not least, partner Badir Treviño-Mohamed is another prominent name in the team; he operates from the Monterrey office and brings knowledge not only in real estate, but also in sophisticated corporate and M&A.

Key clients

PGIM Real Estate (a branch of Prudential Real Estate Investors)

Inveravante Crecentia

BK Partners

RLH Properties

Black Creek Capital

Walton Street Capital

GIC Real Estate

Cadillac Fairview Corporation Limited

Mexico Retail Properties

FIBRA Prologis


Work highlights

  • Represented PGIM Real Estate in the indirect sale of 27 industrial real estate properties and 5 lands parcels for an amount of over $366m.
  • Advised Gran Ciudad on the structuring of an investment platform intended for land acquisition, real estate development and the leasing of multifamily housing involving multiple jurisdictions for an amount of MXN$6bn.
  • Advised Fibra Prologis regarding the sale of eight of its industrial buildings for an amount of $62m approx.
  • Mexican co-counsel to Cadillac Fairview (as buyer) in structuring, negotiating and closing the acquisition of the beneficiary trust rights of a certain SPV Trust controlled by Grupo Sordo Madaleno, for an amount of $110m.
  • Advised Equinix in connection with the acquisition of three data centers operated by Axtel in Queretaro, México; value, $175m.

Mijares, Angoitia, Cortés y Fuentes S.C.

The ‘very professional’ 16-strong team at Mijares, Angoitia, Cortés y Fuentes S.C., is lauded for its ‘fast reaction and excellent results’. The multidisciplinary group of lawyers and accountants have ‘solid technical knowledge’ and handle primarily the regulatory, M&A, and environmental aspects of real estate. Notably, the practice houses two specialist sub-groups, one focused on tax and the structuring of real estate deals, the other handling 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. Stand-out partner Lorenza Langarica, who regularly counsels on local and cross-border procurement and joint ventures, co-leads the practice with ‘problem solverEugenio Macouzet, who focuses on the legal and regulatory aspects of real estate investments in the commercial, residential, hospitality and industrial segments. Other key practitioners include partner Manuel Echave, often sought out by developers and promoters to manage financings for the purchase or construction of real estate projects; founding partner Pablo MijaresIgnacio Armida, who has represented clients in the development and financing of real estate projects across Mexico; and very active senior associate Carlos Jiménez.


Very professional team of people. With several specialists in different subjects. Fast reaction and excellent results

Their disposition and their treatment, as well as the speed of reaction

Solid technical knowledge coupled with engaged, proactive and ethical work culture. Pablo Mijares, founder, elder statesman. Eugenio Macouzet, highly technical, no-nonsense, personable, always available and a problem solver

Key clients

Be Grand

Goldman Sachs Real Estate

Grupo Xtra

Parks Hospitality

Advance Real Estate

Hermes Desarrollos Turisticos

Banco Sabadell

Metropolitan Life Insurance Company

Fibra Monterrey

Grupo Presidente

Work highlights

  • Acted as counsel to Inmobiliaria Canopo Xtra and Banco Ve Por Más in the negotiation and execution of a syndicated loan agreement with Banco Santander México.
  • Represented Be Grand on the first investment made by Banco Invex – through capital development certificates – that contains an indirect interest in a property.
  • Advised MetLife on the execution of a $75m credit agreement with FIBRA Macquarie Mexico, extended by both MetLife and Brighthouse.
  • Advised Advance Real Estate on the acquisition of a portfolio totalling 1.6 million square-feet, comprising of eight industrial buildings located in Queretaro and Toluca from Corporación Inmobiliaria Vesta for a total of $109.3m.
  • Advised Hermes Desarrollos Turísticos and Construcción de Proyectos Turísticos Hermes, on the negotiation and execution of a credit agreement with Banco Sabadell, Banorte, and Banco Santander for an amount of $210m.

Nader, Hayaux y Goebel, SC

Recognized market heavyweight, Nader, Hayaux y Goebel, SC, remains one of the strongest firms in the real estate arena. The large team of 22, which offers ‘promptness, knowledge and pro-business solutions without neglecting strict legal compliance’, covers a wide range real estate matters, including financing, and has vast experience in real estate fund formation, having previously developed work on REITs and CKDs. It also has particular expertise in the tourism and leisure industry. The department comprises nine partners with a solid background in finance, M&A and capital markets. Key practitioners include: experienced player and practice head 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 focusing on financial aspects across the retail, residential and industrial markets; Eduardo Villanueva, notably strong in acquisitions and fund formation; and Alejandro Rojas, praised by clients for always giving ‘a solution or good advice’. Fellow partners Javier Arreola, Hans Goebel and Adrián López focus on real estate finance, investment and joint ventures while Gunter Schwandt and Julián Garza  cover fund formation.

Practice head(s):

Michell Nader


Promptness, knowledge and pro-business solutions without neglecting strict legal compliance. Michelle Nader, Vanessa Franyutti, Alejandro Rojas Eduardo Villanueva, Jenny Ferron and Nicolas Pacheco.

I greatly appreciate the extensive legal knowledge of the lawyer I deal with. I deal with Lic. Alejandro Rojas. I can discuss a wide variety of issues with him and always receive a solution or good advice. The response is always quick.

Key clients

Prudential Real Estate Investors / Prudential Mortgage

Grupo GDI / FibraHotel


M-Reit (Credit Suisse)

Inmobiliaria Helmer

Verde Realty


Banco Sabadell

HSBC Mexico

Work highlights

  • Advising Grupo Murano on a proposed joint venture with Jones Lang LaSalle for hotel projects in Mexico City and Cancun; value  $1bn.  
  • Represented Banco Sabadell (as administrative agent), Banco Mercantil del Norte (as security agent), and Banco Santander Mexico, Banco Mercantil del Norte, and Banco Sabadell (as lenders), on a secured $210m loan for the refinancing of the existing debt of the owners of Secrets & Dreams hotels.
  • Advised  BVG World’s subsidiary, Murano 2000, on obtaining a $191.5m secured financing to construct and develop the mega tourism project Grand Island Cancun.
  • Represented Banco Sabadell, as lender, on a secured loan of $93m, for the refinancing of the existing debt of the owners of the Hilton hotel Los Cabos.
  • Advised HSBC Mexico on a secured loan of MXN$430m for the refinancing of the existing debt of the owners of the shopping center Centro Comercial Vista Norte in Mexico City.

Ritch, Mueller y Nicolau, S.C.

Ritch, Mueller y Nicolau, S.C. fields a highly reputable 21-strong real estate practice, led by seasoned market player Rodrigo Conesa, who participates in real estate financings, acquisitions and developments on behalf of both lenders and developers. Fellow partner Javier Domínguez Torrado mainly handles real estate operations and financing (involving debt and equity placements in Mexico and abroad, secured and unsecured financing, and mergers and acquisitions), while Ricardo Calderón specializes in domestic and cross border M&A and financing transactions in different sectors, representing both investors and financial institutions. Support comes from senior associates Gabriel Torres, Santiago Carrillo and Héctor Cárdenas. Headline work last year saw the firm act for FINSA and private equity fund Walton Street Capital on the $841m sale of a 74 building industrial real estate portfolio to Fibra Uno.

Practice head(s):

Rodrigo Conesa

Key clients

Walton Street Capital


Fibra MTY


HSBC Securities


Goldman Sachs & Co

Work highlights

  • Advised FINSA and private equity fund Walton Street Capital on the sale of a real estate portfolio, comprised of 74 industrial buildings, to Fibra Uno for $841m.  
  • Represented BBVA Bancomer y HSBC Securities (USA), as global coordinators, in a $500m syndicated term credit facility in favor of Fibra Uno.
  • Advised Walton Street Capital and GBI Inmuebles on the $67.6m sale of an office building located at Insurgentes Sur 1079 to a group of private investors.
  • Advised Goldman Sachs & Co on the issuance of debt instruments by independent vehicles, especially created by GICSA, for an aggregate amount of MXN$14bn.

Baker McKenzie Abogados, S.C.

Baker McKenzie Abogados, S.C. 's 11-strong team works from its offices in Mexico City, Monterrey, Guadalajara and Tijuana, allowing the firm to advise on projects almost anywhere in the country. The practice offers domestic and multinational companies and funds advisory on local and foreign real estate investments, including, legal due diligence, acquisition, sale, lease and development of all types of real property and projects, legal structuring, tax strategy, project development (via PPP), and REITs and CKDs, among other matters. The department is co-led by Juan Bernardo Garcia, who specializes on real estate and development law, construction law, infrastructure and major projects (he is also Chair of the firm's regional real estate group and  Mexico real estate and infrastructure groups); and 20-year veteran, Jose Larroque, who leads the real estate practice groups in Latin America and Mexico and has vast expertise advising on the structuring of cross-border real estate transactions for the acquisition, development and financing of projects. Support comes from the firm's local M&A head Gaspar Gutierrez-Centeno, and banking and finance and major projects expert Fabian Monsalve-Agraz.

Key clients

United States Department of State

Starwood Hoteles & Resorts Worldwide








ABC Group


Koch Industries

Nidec Americas Holding Corporation

St. Clair Technologies


Work highlights

  • Advising Synthon on the development process of a new pharmaceutical facility in the municipality of Tlajomulco de Zuñiga, Jalisco.
  • Advising the USA Department of State on the acquisition of land for the relocation of the Consulate Compound in Merida, Yucatan, Mexico; deal value $50m.
  • Advising the Mexican subsidiary of Ty Warner Hotels, Paraiso BB México, on the development sale of a new condominium project located in the Paraiso Master Condominium.
  • Advising on the expansion and consolidation of Molex’s Mexican operations in Guadalajara.

González Calvillo, SC

González Calvillo, SC has a nine-strong team of ‘excellent practitioners', who have ‘a high level of professionalism and experience’ which they put to good use when advising developers, lenders, investment banks, pension funds, real estate investment funds, domestic and foreign investors and large corporations, on real estate project development and related corporate and financing matters, acquisitions and sales, joint ventures, tax efficient structuring, management agreements, and secured construction and renovation finance. The practice also handles public and private offerings of diverse types of real estate-related securities, secured lending transactions, and leasing and real estate litigation. Alfredo Chávez Goyeneche, who represents clients from wide variety of industries in transactions and investments, co-leads the department together with Gonzalo Vargas Ateca and Jorge Cervantes, who are very active in the acquisition and sale of real estate assets. Key support comes from counsel Erika Olguín, a transactional lawyer with a strong practice in real estate, corporate law, private equity, M&As, joint ventures and strategic alliances.


The team is professional and covers all angles of matters.’

In terms of skills, they are efficient, accomplished, they give us legal opinions when we need them, they are organized and professional’.

On an important issue we had the support of Alfredo Chávez Goyeneche, who showed absolute transparency in the price he gave us, which was very fair. His availability and speed was very good, something I found very pleasant in the way he worked. Alfredo would intervene in the discussions when necessary, no more and no less. His in-depth knowledge of real estate was also a key to the success of the deal’.

Excellent practitioners with a high level of professionalism and experience. They charge what is fair’.

Key clients

UST Global

Baker Hughes International

Twin City Hide

Reichmann International

Regus Management (IWG)


Avviare Inmobiliaria

InterContinental Hotels Group

Canamex International


Work highlights

  • Represented Twin City Hide in its MXN$24m purchase of industrial real estate in Leon, Guanajuato,  from Cimsa Industrial Park.
  • Advised McDonald’s on handling certain specific transactions with its franchisees in the north of Mexico.
  • Advised BanCoppel on the MXN$600m financing made available by BanCoppel and Banco Actinver to Cabo San Lucas Holdings, for the ongoing construction of a residential and tourism real estate development.
  • Acted for Torre Mayor and Torre Diana in preparing, negotiating and coordinating the execution of all of its office and retail lease transactions in Mexico.

Greenberg Traurig, S.C.

For some clients, Greenberg Traurig, S.C.'s real estate practice offers the ‘best service’ in Mexico. Supported by the rest of the firm's international offices, the 11-strong team covers property acquisition and investment, development, management and leasing, financing, restructuring and sale of all real estate segments and asset classes, including commercial, recreational, and residential real estate, structured equity, structured debt and hybrid structures. Their client list includes property developers, lenders, investment managers, private equity funds, REITs, operators, joint ventures, sovereign wealth funds, international developers, and private owners. Department head Antonio Diez de Bonilla Martinez is a fully-fledged real estate specialist, active particularly in M&A, joint ventures and development transactions across various industries (including hospitality and retail); while fellow partner Gerardo Carrillo brings wide-ranging knowledge of residential, commercial, industrial, and hospitality projects. Senior associates Roberto Guerrero and Julio Sardina are other highlighted members of the ‘ethical, responsible and compliant’ team in the Mexico City office.


The personalized attention of its partners. We have received perfect attention from Gerardo Carrillo and Roberto Guerrero. Not only have they designed the best legal and fiscal strategy for the portfolio, but also a solid structure to continue growing. In the other firms you are a number, here you are valued by your persona. Besides the talent that lawyers have in their fields of knowledge, GT’s people are willing to give the extra; they are adaptable and willing to give their best to meet the deadlines’.

Gerardo Carrillo, Roberto Guerrero and their entire team have a deep knowledge of their field. They also possess interpersonal skills to work in teams with other specialties (Tax and Accounting), focus on detail and perfect understanding of all real estate transactions, while being able to provide a tailored-made solution by bringing together all the expertise for a specific portfolio. They are ethical, responsible and compliant’.

Great service and quality of assessment at all times. The firm is constantly updated on changes that may occur in regulations that may affect the business. This is the best service we have received in Mexico after working with several firms’.

The best qualities are the service, commitment and willingness of Gerardo Carrillo and Antonio Diez de Bonilla’.

Key clients

Accor Hotels

Apple Leisure Group

BP (British Petroleum)


Desarrolladora del Parque

Fibra Inn

General Motors Company

Great Wolf Resorts


Grupo Hotelero Prisma

Grupo Lar

Hard Rock International

Hyatt Hotels Corporation

ICM Asset Management

Kasa Living

Melia Hotels (The Sol Group Corporation)


Mira Companies

Nomad Living (CIM/COMPASS)

One Properties

PGIM Real Estate

RLH Properties

Round Hill Capital

SBE Group

Seris Capital (a Washington Pension Fund entity)


State of Jalisco Pension Fund

Tao Capital Partners

Walton Street Capital

Work highlights

  • Advised CINUK on the structuring and creation of a US fund with Mexican investment that will invest in multifamily projects in the US (a mandate undertaken in conjunction with several of the firm’s US offices).
  • Advised a Mexican real estate company on the sale of a 38,000 square meter (9.4 acres) beachfront parcel of land in Cancun, Mexico to the all-inclusive luxury resorts operator Palace Resorts; deal value $90m.
  • Advised PGIM in the negotiations for the acquisition of more than two million square feet of industrial land from FINSA; deal value, $65m.
  • Acted for Desarrolladora del Parque on a lease agreement with WeWork for approximately 10,000 square meters in Mexico City; deal value $45m.

Santamarina y Steta

Santamarina y Steta's 11-strong practice knows ‘the business very well’, and is praised by some clients for providing ‘unparalleled personal attention, as well as an excellent level of expertise’. The team advises on a wide range of matters including the acquisition, leasing, development, construction and sale of real estate properties, as well related financing structures and securitisation, including the contribution of properties to FIBRAS, CKDs, and guarantee trusts. The department is led by three partners. In Mexico City, Aarón Levet has broad experience in M&A, joint ventures and financing in the hospitality and industrial real estate sectors; and Vicente Grau is active in real estate transactions as part of a broader practice that also takes in economic competition, antitrust and estate planning. In Monterrey, César Cruz is as an expert in structuring, negotiating and implementing businesses and real estate operations, including the purchase and sale of assets and national and international co-investments. Support comes from recently appointed partner, Claudia Rodríguez, who focuses  mainly on the industrial, retail and housing sectors; and senior associate Isaac Zatarain.


Santamarina y Steta has a consolidated real estate team that has been working together for many years. They know each other well and know the business very well. They have unparalleled personal attention, as well as an excellent level of expertise.

Key clients

Shimtech de México

Invex Infraestructura


Accor Hotels

Industrias AlEn

Fondo Mexicano para la Conservación de la Naturaleza


Ganfeng International Trading (Shanghai)



Martinrea International

Work highlights

  • Acted as counsel for Motores Eléctricos de Monterrey, on the sale of its industrial facilities located in the municipality of Guadalupe, Nuevo León.
  • Represented Ganfeng on the Mexican aspects of its acquisition of Bacanora Minerals and Sonora Lithium.
  • Advised Bartlett on the acquisition of a grain facility in the State of San Luis Potosí.
  • Advised Invex on analysis of the process to dis-incorporate several parcels of land located in Mexico City from the agrarian regime.

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 García specializes in retail for luxury brands as well as on industrial and health sector real estate matters; managing partner Juan José López de Silanes is particularly strong in the areas of planning and execution of national and international transactions; and Jesús Colunga is a hospitality expert. Key support comes from senior associates Gerson Vaca and Monica Mora.

Key clients


Platinum Equity

Médica Sur

Kodak Alaris Holdings

Federal-Mogul Motorparts

ELT Trading

A&J Vacay

Milliken Design

Alessandro Eichstaedt

Moet Hennessy de Mexico

Work highlights

  • Assisted Platinum Equity with its acquisition of Wesco Aircraft Holdings, a US public company with a Mexican subsidiary.
  • Advised Kathrein on the review, comment and negotiation of  the lease agreement of certain industrial facilities located in Tlaxcala Mexico, to Ericsson.
  • Represented A&J Vacay on the $3.3m acquisition of a property within the exclusive resort “El Dorado” in Los  Cabos, Baja California.

CMS Woodhouse Lorente Ludlow

The practice at CMS Woodhouse Lorente Ludlow has over 20 years' experience advising on all aspects of the structuring and financing of real estate developments in industrial, residential, hospitality, office and mixed-use projects. Moreover, the five-strong team is renowned among clients for its ‘extensive knowledge of the real estate aspects related to energy projects’. 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, co-leads the practice with César Lechuga, who has ‘outstanding  reactivity and proactivity’, and specializes in transactional real estate with a primary focus on the industrial, logistics, commercial, office space and retail sectors, as well as large plots of land for wind and solar projects.


Extensive knowledge of the real estate aspects related to energy projects. César Lechuga: outstanding reactivity and proactivity

Quality work, efficiency and clarity of response

Well coordinated

Key clients

Opera Desarrolladora

Deka Inmobilien

Union Real Estate Investment


Solar Century

CKD Infrastructura México

Canadian Pension Fund CDPQ

EDF Renewables México



Metka Egn

GVM Real Estate

Fondo Nacional de Fomento al Turismo (Fonatur)

Work highlights

  • Advised Deka on the acquisition of the Class A+ office building known as Corporativo Reforma Diana, located in Mexico City, from Compañia Hotelera Villablanca.
  • Advised CKD IM and CDPQ on real estate legal due diligence for the acquisition of 1,700 MW portfolio of renewable energy projects from ENEL Green Power.

Cuesta Campos y Asociados S.C.

Full-service Mexican law firm, Cuesta Campos y Asociados S.C., has been advising both domestic and foreign entities in real estate transactions for over 40 years. The team of seven lawyers, which has a mid and upper mid-market deal focus, is often the first choice for clients in key industries such as automotive, IT, manufacturing, retail or food & beverages. The team has been involved in a variety of real estate project transactions including industrial and tourism developments. Department head Berenice Soto frequently advises leading developers and transnational corporations on a range of transactional matters. Domestically, the firm has offices in Mexico City, Guadalajara and El Bajío.

Practice head(s):

Berenice Soto

Key clients



Desarrolladora Bauen


Desarrollos Urbanísticos Habitacionales



Grupo AL-CON



Work highlights

  • Assisted Brightcove with various legal projects to design and plan the legal structure of a number of internal areas of the company, including the negotiation of a lease agreement for future offices in Guadalajara.
  • Advising Nike on the renewal of lease agreements of relevant sale points for the client, with particular implications for the storage of materials and stock.
  • Advised Desarrolladora Bauen in all legal, corporate and financial aspects in a joint venture named “Bosquetto Residencial”, a large residential development.

Hogan Lovells

The Mexican real estate practice at international full-service firm Hogan Lovells, fields a local team of 11 lawyers who provide expert legal advice regarding hospitality, industrial, commercial, hotel, leisure, retail and residential real estate projects, as well as, infrastructure and automotive development projects. The firm has been very active over the last year in the negotiation of lease and purchase agreements for developers, investors, investment funds, and other companies. The department is co-led by Mexico City-based partners Ángel Domínguez de Pedro and Juan Francisco Torres Landa, in conjunction with Guillermo González Frankenberger, in the firm's Monterrey office.

Key clients

Parks Desarrolladora

Abanca Corporación Bancaria

Federal Mogul Group


Energía Nueva Energía Limpia

EDF Renewables Desarrollo México

Wal-Mart de México

Holland & Knight

Holland & Knight has built up a robust real estate practice, with a unique expertise in placing Mexican Reits (FIBRAS) and CKDs, that has allowed it to secure important clients such as Fibra Uno, the first and largest Mexican Reit, and which has relied on the firm since its initial public offering in 2011. The five-strong team also handles cross border real estate transactions, particularly in the hospitality segment. The department is led by partner Guillermo Uribe, who focuses on real estate finance matters related to banking and securities law, international capital markets, structured finance and syndicated loans. Adrián Gay Lasa, who provides key support, especially with REIT-related work, was promoted to the partnership in January 2020. Former practice co-head Luis Moreno left the firm in August 2019.

Key clients


Parks Desarrolladora

Banco Sabadel

Nemesis Capital

Fibra Inn

Bricks Acquisition Company

Fibra Inn

Work highlights

  • Advised Fibra Uno on a successful $1bn debt issuance of unsecured senior notes.
  • Represented Banco de Sabadell in an agriculture-related land loan facility to Agricola Ganadera Los Lujan.
  • Advised Nemesis Capital (Avalon) on its IPO process to become a Mexican REIT, with four properties in the commercial and industrial sectors.

Ibarra, del Paso y Gallego

The practice at Ibarra, del Paso y Gallego has become a strong choice thanks particularly to its capabilities in hospitality and transactional real estate, which are reinforced with the 14-strong team's expertise in environment, corporate/M&A, and energy and infrastructure. The experienced group advises on, among other issues: the development and operation of timeshare regimes, acquisition structuring, financing, development, construction, leasing and sale of real estate along with rights of way and easements and property regularization. The area is co-led by accomplished founding partners Gerardo Gallego and the always ‘available and flexibleCarlos Ibarra. Other key practitioners include Juan Miguel Martínez-Mendieta, who handles disputes; environmental expert Adrián del Paso; Rodrigo de los Ríos and Carlos Pérez-Chow, who has particular expertise in the energy industry. Senior associates Sandra Jiménez and Alejandra Gutiérrez are also noted.


A personalized and flexible firm, which attends to diverse legal matters, with lawyers of great career and experience. Carlos Ibarra and Adrian del Paso, have great knowledge, availability, and flexibility to find solutions.

‘They’re experts in the field. They understand their clients’ needs, including costs. They are a partner. Their service is more personal and efficient.’

‘Carlos Ibarra, Rodrigo de los Rios and Adrian del Paso are excellent lawyers.’

Key clients

Grupo Radio Fórmula

Marriott Vacations Worldwide Corporation


Evergreen Capital

Grupo IGS

Grupo Blq


Grupo Escato

Only For Corporate Group

Work highlights

  • Advised a Mexican pharmaceutical company on the negotiation and subsequent $10m acquisition of a property from Simpex Pharmachem in the US.  
  • Represented Grupo Radio Formula in relation to a due diligence and commercial valuation process that reviewed over a 100 properties owned by the group through its 13 different corporate entities in Mexico.
  • Advised Marriot Vacations Worldwide Corporation on regulatory matters pertaining to their operations in Mexico and sixteen other Latin American countries.

Jones Day

Jones Day's Mexican office fields a five-strong team of dedicated real estate lawyers who have solid experience in matters ranging from simple due diligence processes for the purchase or development of land, houses, buildings, plant, hotels and factories, to more complex operations where financing and tax expertise are needed. Their expertise also includes the analysis and development of different real estate investment vehicles under Mexican law. The practice, which is supported by the firm's global network, includes several environmental experts and is led by Mexico-office managing partner Manuel Romano, who has broad expertise advising developers, buyers, and financing parties on real estate development projects.

Practice head(s):

Manuel Romano

Kuri Breña, Sánchez Ugarte y Aznar

For some, the six-strong practice at Kuri Breña, Sánchez Ugarte y Aznar not only offers levels of attention that ‘exceed those of any other firm', but the lawyers also 'have a proven leadership in the real estate legal field’. The team covers leasing and real estate development; financing and securitisation of cash flows originating from real estate properties; joint ventures; and cross-border transactions including acquisition, divestitures, leasing and the development of industrial, hotels and commercial properties. Luis Octavio Núñez, praised by clients for his ‘excellent advice, response and courtesy’, leads the team with the firm's co-managing partner Guillermo Garay, who has profile and expertise in the sale and disposal of real estate. Support comes from finance expert Rodrigo López, and senior associate Elizabeth Tovar , who arrived in July 2019 from the former Romo Paillés.


Excellent advice, response and courtesy. Excellent attention from Luis Octavio Núñez as well as Sandra Solis

The team of lawyers that make up the real estate and corporate area of the firm have accredited the highest academic and professional preparation for the attention of the matters that we have entrusted them with, also providing security and legal protection in the operations in which they advise us. In addition to the above, they have demonstrated their commitment to us, offering legal services of the highest quality and having as their guiding principles honesty and professional ethics

‘We dare to say that their standards of attention exceed those of any other firm, and they have a proven leadership in the real estate legal field. I would not recommend a different firm’

‘Luis Octavio Núñez Orellana, Rodrigo López and Mariela Hinojosa Rodríguez, are our advisors in real estate and corporate matters within the firm. All of them have proven preparation and expertise in this field’

Key clients

Vinte Viviendas Integrales


Graphic Packaging

Nissan Mexicana




Work highlights

  • Acted for Vinte Viviendas Integrales on third extension to  a $3.75m financing granted by Banregio to a joint venture between the client and BK Partners, for the development of large residential project in Mayakoba.
  • Acted as legal advisor to thyssenkrupp on the sale of a AAA building (office space) in Mexico City; value, $15m.
  • Adviced Prologis on various real estate acquisitions of warehousing and logistics facilities, as well as on land sales and long-term leases with institutional clients.

Pérez Correa González

The real estate team at what was formerly Solcargo, now Pérez Correa González, is regularly sought after -particularly by international investors- for its expertise across a broad range of real estate projects in the financial, technology, consumer goods, energy, fin-tech and infrastructure sectors. The department is led by the ‘energetic’ Luis Gonzalez, who specializes in corporate and transactional work, including M&A, joint ventures, and cross-border financings. Other names to note include mergers and acquisition and finance specialist Fernando Eraña, and Jorge Labastida, who joined the firm this year from Thompson & Knight LLP and who focuses his practice on asset-backed and structured finance. Support comes from senior associate Juan Carlos Izaza, whom some clients regard as a ‘great lawyer’.

Practice head(s):

Luis González


They are fully updated in legal matters around the real estate sector and their different associates have the correct and complete specialties. Because they work with clients of all sizes, they can advise on various areas and ways of making contracts and legal regimes. Luis Fernando Gonzalez is a great expert and is empathetic to the client, but energetic in proposing a way forward. Juan Carlos Izaza’s constant and meticulous work gives us peace of mind and pace. Without a doubt, he is a great lawyer’

Key clients



Exim Bank of China

Bertram Capital Management

Compañia Casa Dragones de México


PA Consulting Group

Work highlights

  • Advised Sterimed on the acquisition of Especialistas en Esterilizacion y Envase (EEE), a  Mexico-based, regional player in sterilization packaging and infection prevention solutions.
  • Advised Ex&Im Bank of China on a cross-border facility agreement to a Chinese company to purchase land in Nuevo Leon, for the development of an industrial park. The deal is valued at $40m.
  • Advising Akivinta on the purchase, and regularisation of a premium plot of upscale mixed-use residential land; value, over MX$250m.

Sánchez Devanny

The incorporation of Diego Gómez Haro, formerly head of legal for Mexico real estate at Blackstone Group back in July 2018, has clearly boosted Sánchez Devanny's practice, allowing the firm to strengthen its presence in Mexico City, from where he operates. Very prominent in, among other areas, syndication, restructures, portfolio acquisitions, financing, equity investments, joint venture incorporation or asset divestiture, he co-heads the department with Monterrey-based managing partner Rafael Villamar-Ramos, a reputed market player with substantial experience in industrial, commercial and housing real estate acquisition and leasing transactions. The eight-strong team also includes key practitioner Alfredo Villareal, who is appreciated for being ‘flexible to the customers' demands, receptive to feedback, and very empathetic at the time of negotiation’.


‘Their interdisciplinary practice has improved in a very noticeable way. They are flexible to the customers’ demands, receptive to feedback, they are very empathetic at the time of negotiation’

‘I think one of their greatest strengths is that they adapt to the speed of the business and always show commitment especially in the moment of closures and completion of the project’

‘Knowledge of the market, of the main players in the market, very good handling of written communication, flexibility and availability with the client. Excellent handling and of complex negotiations and good management of process’

Key clients



H&M Hennes & Mauritz

Ikano Industries

Giorgio Armani


Under Armour

Sally Beauty Supply

IMPRO Industries


Work highlights

  • Advised Ikano Group in all matters related to its acquisition of the real estate where the first IKEA store will be opened in Mexico City.
  • Advised Bancomext on several real estate-financing transactions, including, among others, a MX$350m financing for Carrera Corporation.
  • Advised Ikano Industry on the setting up of its industrial business in Mexico, including the acquisition of industrial real estate in the Mexican State of Coahuila.

SMPS Legal

SMPS Legal considerably deepened its real estate capabilities in 2020 with the hire of virtually all of legacy firm Romo Paillés, S.C.'s real estate practice. Former managing partner María Teresa Paillés, a leading player in the real estate sector with a strong focus on transactions in the hospitality industry, has joined the firm along with fellow partner María Esther Rey and two associates. They will reinforce the team co-led by Alejandro Ortiz, who operates from the firm's Dallas office and is often sought-out by clients interested in tourist developments in Mexico; and Eduardo Pizarro, who has particular expertise in the financial and energy sectors. Recently appointed partner Andrés Pizarro, who is especially skilled at handling complex trusts, trust operations and FIBRAs, is another name to note. The practice, which is currently working on several projects related to shopping malls, regularly advises clients 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 partner is involved and knows the matter well, unlike other firms where the partner is only present at the beginning and end.

Their treatment is excellent and their disposition is total.

Key clients


O’Donnell Group

Cimbra Capital

Centauro Capital


Atco-Ranman Energia


GD Holdings

APX Inmuebles

Work highlights

  • Representing T69 in the negotiation of several leases and purchase agreements with respect to office space and condominium units.
  • Advising Vidarq on the legal tax structure, development, and commercial stages of the termination of a commercial and residential development in Insurgentes-San Angel, Mexico City.
  • Representing the Rincon Gallardo Family in the structure and pre-development of a 52MW solar power generation park in 120 hectares in the state of Hidalgo.

Trujillo Abogados

The August 2020 emergence of Trujillo Abogados marks the first Covid 19-detonated spin-off at a major firm in Mexico. Operating from both Monterrey and Mexico City, and offering flexible fee arrangements in the face of the pandemic, the seven-strong boutique has hit the ground running with an admirable track record established during the group's time at Galicia Abogados S.C.. Despite the firm's novelty, the team is praised for providing ‘exceptional’, ‘business-oriented’ advice on investment vehicles, joint ventures, and the acquisition, development and sale of all types of real estate asset in Mexico. Moreover, it team has vast experience in real estate portfolio financing, from structured, senior and mezzanine finance, club deals and syndication, to recourse and non-recourse loans, along with trusts, mortgages and pledge securities. The group also handles legal due diligence, condominium constitution, project managing and leases of all types. Founding partner Alejandro Trujillo, whose lengthy background as a general counsel in the sector makes him an ideal client choice since he ‘understand the needs of a company, both in terms of structures and budgets’, has profound expertise in real estate transactions and financing. Experienced support comes from associates Alejandra Boj (in Monterrey), whose background includes in-house experience at both GE Capital Real Estate and MMREIT; and Miguel López, who has particular expertise in real estate trusts; both are noted.

Practice head(s):

Alejandro Trujillo


‘Alejandro Trujillo has more than 25 years of experience both in law firms and companies. This combined experience makes him and his team understand the needs of a company, both in terms of structures and budgets.

They know the sector and the business perfectly.

They work cleanly, clearly and quickly.

Key clients


Prudential Global Investment Management (PGIM)

Fibra Macquarie

Banco Sabadell


Advance Real Estate

Santander Global Facilities

BGW Legal (Birman, Guakil y Wolff, S.C.)

Boutique firm BGW Legal (Birman, Guakil y Wolff, S.C.) is a solid choice for real estate investment trusts, institutional investors, real estate holding companies, developers and corporations when seeking advice on a wide range of matters, including acquisition, disposition, construction, leasing, financing and zoning issues. The practice, which is co-led by skilled litigator Isaac Guakil and corporate expert Jack Wolff, is very focused on helping clients negotiate the acquisition of new land for their investments in large hotel, housing, agricultural and corporate complexes throughout Mexico.

Practice head(s):

Jack Wolff and Isaac Guakil

Key clients

Parque Agroindustrial Activa (AGROPARK)

Grupo Comercial Baja Beach

Tiendas Goza

Cosmopolitan Group

Eazy Life Properties

ADAMA Desarrollo Inmobiliario

Work highlights

  • Assisted Agropark with the planning and structuring of an important agro-industrial park development of more than 500 productive hectares in the State of Querétaro, destined for high-tech greenhouses.

Cannizzo, Ortiz y Asociados SC

Seasoned boutique Cannizzo, Ortiz y Asociados SC has an accomplished real estate practice that focuses on complex finance, acquisition, disposition, development and workout matters in Mexico. The department; which includes respected corporate practitioners Carlo Canizzo, Roberto Canizzo and Stefano Amato, who is particularly strong in transactional work, and has a niche strength in the purchase and sale of hotels.

Key clients

The Friedkin Group

Ermenegildo Zegna

Work highlights

  • Advised The Friedkin Group, as buyer, on the $16m cross-border acquisition of the second stage of the Chileno Bay Resort Hotel.

Sainz Abogados

Sainz Abogados 's 'active' and diversified real estate practice advises a broad range of property developers, lenders, investment managers, opportunity funds, FIBRAS and REITs, as well as private owners, on -primarily- transactional work, leasing, developments, regulatory issues, and land use and zoning matters. Daniel Saltzberg, who actively represents real estate funds, investment trusts, developers and lenders, co-heads the practice with Luis A Cervantes Muñiz, who specializes in infrastructure and real estate matters. Other key practitioners include the very active Ximena Hernández. Since publication the firm has split into Cervantes Abogados and Sainz Abogados, S.C., effective as of November 2020.

Key clients

Exeter Property Group

Parques American Industries

Némesis Capital

Spectrum Vision Group

Work highlights

  • Advised Exeter Property Group on its $12m acquisition of former ejido land for the development and construction of an industrial park.
  • Represented Parques American Industries in securing financing for the development of diverse industrial properties in the State of Chihuahua.

Chávez Vargas Minutti Abogados

Boutique firm Chávez Vargas Minutti Abogados' practice group has particular expertise in government related projects, while also advising on a wide range of real estate finance and transactional matters across the residential, commercial, office-space, hospitality, education, industrial and agricultural segments. Recent highlight work for the team included advising Investment & Properties on the $30m purchase of a property of 270 thousand square meters in Coronango, Puebla, from Alhemos Industrial. Well know market participants José Antonio Chávez and Brian Minutti co-head the ‘proactive’ five-strong team; senior associates Alejandro Carreño and Miguel Martínez are also noted.


They give timely follow-up to pending and signing documents. They are proactive

Key clients

Banco Santander Mexico

Grupo Habiqo


Grupo Renovables Agricolas

Investment & Properties

Tierra y Armonía

El T3mplo

FCI – Fondo Capital Infraestructura

Construcciones MS


Work highlights

  • Advising Banco Santander on the $50m financing of a real estate project in Los Cabos, Baja California Sur, Mexico, including a St. Regis Hotel, vacation villas, and other amenities.  

DLA Piper Gallastegui y Lozano

DLA Piper Gallastegui y Lozano's 'creative' real estate practice advises on a wide range of services like financing, fund formation, acquisitions and disposals, tax, land use, environmental law, planning, development, construction and leasing. Department head Gabriela Alaña, who has particular expertise in ‘build-to-suit’ developments, is frequently called on to handle industrial, office, retail and multi-family and resorts projects; she heads the small business-oriented team from the Mexico City office which, although not large in number, works seamlessly with the firm's international network. Other key practitioners include fellow partner María Eugenia Rios, whose expertise centres on real estate development.

Practice head(s):

Gabriela Alaña


Dedication to the issues involved, not just limited to what is requested, but not limiting their advice. Dedicated work and good professional and human service.

‘The team is very complete in all disciplines of law, professional and experienced and above all showing a positive attitude and customer service.’

‘Eduardo Gallastegui and Gabriela Alaña are highly experienced lawyers who know how to listen and attend to the needs of the client.’

Key clients

Hilton Hotels

Controladora de Terminales México

Four Seasons Hotel Limited

Marriott International

Kimpton Hotels & Restaurant Group

Work highlights

  • Advised Hilton Hotels in the negotiation of a 5-year lease agreement for their new corporate offices in Mexico City.; deal value $175,000.
  • Advised Controladora in the negotiation and closing of a 7-year built-to-suit agreement related to the lease of a warehouse located in Monterrey; deal value, $4.7m.

Galicia Abogados S.C.

The July 2020 departure of practice co-head Alejandro Trujillo to establish his own boutique (taking several associates with him), was undoubtedly a blow to the department at Galicia Abogados S.C. that he helped build, but is far from being its demise. The team continues to advise on a broad range of sector issues, ranging from due diligence and risk analysis (including environmental and regulatory aspects), leasing, urbanization, property development and operation, condominiums and fractional ownership, public and private investment, and with administrative procedures and legal audits. Former co-head Ramiro Sandoval has taken on full leadership of the practice; he has extensive experience in acquisitions and divestitures, public and private market joint ventures, structuring and the formation of private equity funds and REITs, primarily with a focus on mixed use projects and in the hospitality industry. José Visoso, who has actively advised financial institutions in local and cross-border transactions as well as both sellers and purchaser in M&A deals, is another key partner. Associate support comes from Guillermo Para and Mariana Islas.

Practice head(s):

Ramiro Sandoval


Their practice is exceptional. They have an excellent business oriented service and really become partners of the companies they work with.’

Key clients

Credit Suisse

Acosta Verde

Promecap / Rodina

Artha Capital

Acciona Parque Reforma

Walton Street Capital

Alignmex Real Estate Capital


Azora Capital

Grupo Sordo Madaleno

BK Partners

Fibra HD


Work highlights

  • Acted as outside counsel to HSBC on the financing of the acquisition by Grupo Axende of the Rosewood equity interest (including the Hotel located in San Miguel de Allende) for $60m.

White & Case S.C.

The Mexican real estate practice at White & Case S.C. fields a team of 10 lawyers who advise on matters ranging from acquisitions and investments through to the real estate aspects of major projects (notably in the retail and energy sectors), on real estate financing matters; and on the environmental law issues involved in a range of real estate transactions. Recent highlight work saw the firm advise Bancomext and Banco Sabadell on the $55m project financing of a 115.5MW solar project located in the state of Durango. The department is co-led by partner Álvaro Garza-Galván, whose practice focuses on real estate transactional and financing mandates; and counsel Pedro Morales, who has a high level of expertise in real estate regulations and environmental law.

Key clients

Bank of Nova Scotia

Fibra Shop

Grupo Barramar Turbana

Sonoco Pesa

Kansas City Southern Mexico


Bank of Nova Scotia

Work highlights

  • Advised Bank of Nova Scotia -as lead arranger, lender and administrative agent- on a $200m term loan and revolving facilities extended to Corporación Inmobiliaria Vesta.
  • Represented Banco Invex as borrower of a MX$2bn-plus term loan granted by a syndicate of banks, in which Banco Sabadell acted as administrative and collateral agent.