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Mexico City, Monterrey
Creel, García-Cuéllar, Aiza y Enríquez, S.C., Carlos de Icaza, Mexico City, MEXICO

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Carlos de Icaza

Work Phone: (52) (55) 4748-0641
Creel, García-Cuéllar, Aiza y Enríquez, S.C.

Work Department

Environmental. Real Estate


Carlos de Icaza A. is a partner with Creel, García-Cuéllar, Aiza y Enriquez, S.C. in Mexico City, where he heads the Environmental Law practice group.  His practice focuses on Environmental and Real Estate law and has substantial experience in related business transactions.

Mr. de Icaza has actively represented major industrial groups, real estate investment trusts, development companies and private equity funds, involved in the industrial, tourism, retail and housing sectors, requiring environmental, real estate and transactional advice for their Mexican ventures.  On the environmental side, among various other matters, Mr. de Icaza has recently advised a large multinational doing business in Mexico in successfully completing a large remediation of a heavily contaminated site and in its further sale to a third party for subsequent redevelopment.

On the real estate side, among others, Mr. de Icaza advised last year a large Mexican real estate fund in the sale of 19 shopping centers to a Mexican REIT (FIBRA) for an amount exceeding US$600 Million dollars.  Among his most representative recent transactions Mr. de Icaza advised Mexico Retail Properties (an affiliate of Black Creek Capital) in the sale of 49 retail properties located in 20 jurisdictions throughout Mexico to Fibra Uno (the first and largest REIT in Mexico), for a price of over US$2 Billion Dollars. This transaction closed in December 18, 2013, and was at that point in time the largest real estate transaction in terms of purchase price in the history of Mexico.

Over the past decade Mr. de Icaza has been consistently ranked as a leading and/or highly recommended attorney by several publications including Who’s Who Legal, Practical Law Company, Chambers and Partners, Latin Lawyer and The Legal 500.  Mr. de Icaza obtained the Client Choice Award for the category of Environmental Law in Mexico, from the International Law Office/Client Choice Awards organization during two years in a row, in 2013 and 2014.

 Mr. de Icaza is a frequent speaker on environmental and real estate matters and has written various articles and papers on different legal subjects.


Mr. de Icaza worked as a Foreign Associate in the Los Angeles office of Paul, Hastings, Janofsky & Walker in 2000 and 2001.


Spanish, English and French.


Mr. de Icaza is a member of the International Bar Association, the Carbon Markets and Investors Association and the American Bar Association


Mr. de Icaza received his law degree (JD) from the Instituto Tecnológico Autónomo de México (ITAM) in Mexico City in 1997, and obtained his LL.M degree from McGill University in Montreal, Canada in the year 2001.  Mr. de Icaza studied a Post-Graduate Course on International Commercial Arbitration in 1997 from the Escuela Libre de Derecho in Mexico City, and a Post-Graduate Course on Environmental Law, in 1998, from the Instituto Tecnológico Autónomo de México (ITAM) in Mexico City



Within: Leading lawyers

Carlos de Icaza - Creel, García-Cuéllar, Aiza y Enríquez, S.C.

Within: Environment

Creel, García-Cuéllar, Aiza y Enríquez, S.C.’s ‘excellent and very knowledgeable’ environmental team is praised as being ‘familiar with regulations and regulatory agencies, as well as US regulations, which facilitates projects and issues management’. Extremely well-regarded practice head Carlos de Icazalistens carefully, gets on board and is directly involved in material matters, offering business-oriented solutions’. The firm recently advised (and lobbied on behalf of) CALICA, a subsidiary of Vulcan Materials Company, in relation to its participation in the amendment procedure of the Ecological Ordinance of the Municipality of Solidaridad. Other clients include Banamex, RLH Properties, Howard Energy Partners, and Celanese.

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Real estate

Within: Leading lawyers

Carlos de Icaza - Creel, García-Cuéllar, Aiza y Enríquez, S.C.

Within: Real estate

Clients are unabashedly effusive about the ‘top class’ real estate team at Creel, García-Cuéllar, Aiza y Enríquez, S.C.: ‘in my opinion, it is the best real estate law firm in Mexico. This is a law firm that has everything that a client needs and not only professionally speaking but also from a personal point of view’, says one. Another adds that the lawyers ‘know how to get things done and close deals. That’s what they do, and that’s what we need. They are expensive, but totally worth it’. The 32-strong team is solidly integrated, including with other departments in the firm, and it is, therefore, able to handle highly complex deals, from transactional to finance matters, including CKDs, FIBRAs, and CERPIs in all real estate sectors. A ‘strong negotiator, with a great deal of experience in the field’, ‘top notch real estate lawyerFrancisco Montalvo leads the practice from the firm’s Monterrey office. His recent work involved real estate acquisitions, including acting as counsel for Nucor JFE Steel Mexico in the acquisition of approximately 100 hectares of land (once subject to the Mexican agrarian regime) located in Silao, Guanajuato, for the establishment of a steel galvanising plant, a case also involving ejido issues. Key partner Carlos de Icaza, based in Mexico City, assisted the Dutch Embassy with negotiating and executing the lease agreement for its new offices in the capital; and MRP in the MXN$7.8bn sale, to Fibra Uno (FUNO), of a portfolio of 16 stabilised shopping centres across 11 Mexican states, and one plot of land in the greater Mexico City area. In the former mandate he was supported by senior associate Alfonso Pulido whom clients describe as ‘a versatile, hands on lawyer with deep knowledge of real estate transactions. There is a noticeable difference when he participates in a deal. He has a great willingness to work, any time, any day’. Pulido was also present on a deal led by another key partner, Carlos del Río, in which the team – also involving IP and insurance lawyers – advised Tesla on the negotiation of lease agreements for the establishment of its operations in Mexico, including the negotiation of Supercharger Stations in several locations across Mexico, required for the implementation of an electric charging network for all-electric Tesla vehicles. Senior associate Pilar Orozco was also involved in this deal. Del Río teamed up with other key partner Badir Treviño-Mohamed (based in Monterrey) as counsel to RLH Properties in the acquisition of a holding in the companies that own the Rosewood, Fairmont, Banyan Tree and Andaz Mayakoba-brand hotels and the "El Camaleón" golf course, in Quinatana Roo. Treviño-Mohamed was very active in FIBRA work, most notably, (in conjunction with capital markets partner Carlos Aiza) he led the team that assisted Grupo Bafar in the negotiation, implementation, and structuring of FIBRA Nova, including its offering on the Mexican Stock Exchange. Counsel Valentina Villa and associate Rogelio Rueda are also noted, and key support also comes from senior associate Carlos Yamamoto. Iker Arriola joined the firm from White & Case S.C. in early 2018. Clients include Macquarie Mexican REIT, FIBRA Macquarie, Terrafina, Walton Street Capital, Prudential Real Estate, Artha Capital, GE Capital Real Estate, Black Creek Capital, O’Connor Capital Partners, Mexico Retail Properties, Starwood Hotels and Resorts, Prologis and Southern Cross.

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