Vice president, legal real estate | Macquarie Asset Management
Monserrat Villegas Vallejo
Vice president, legal real estate | Macquarie Asset Management
How do you approach managing legal aspects during periods of instability or crises, and how does your legal strategy align with the broader business strategy to ensure the organisation’s resilience?
During periods of instability or crisis, I focus on decisive and proactive risk management, clear communication and close collaboration with both the senior leadership team and other specialist functions. With the benefit of expert input from external counsel where required, I work with the business team to quickly assess evolving risks—such as regulatory changes or market volatility—and their legal implications, ensuring legal considerations are appropriately factored into decision-making.
In times of uncertainty, being agile is essential. A core element of my preparedness is the regular review and update of our policies, processes and contractual frameworks to address emerging risks and ensure ongoing compliance. Amidst challenging circumstances, I prioritise transparent and timely communication with both internal and external stakeholders to effectively manage expectations and build consensus around courses of action.
My legal strategy supports organisational resilience by fostering preparedness, enabling business continuity and aligning legal priorities with broader business objectives. This approach helps me navigate uncertainty and continue delivering value to clients and other key stakeholders.
What are the major cases or transactions you have been involved in recently?
I participated in the structuring and execution of a 50-50 joint venture between FIBRA Macquarie and Grupo FRISA to develop up to four Class A industrial buildings totalling approximately 750,000 sq. ft. GLA on a 16-hectare site in Tijuana, Mexico. The project leverages strategic connectivity to major US border crossings and access to skilled labour, supporting manufacturing and logistics activities.
I led the successful execution of FIBRA Macquarie’s trustee substitution, transitioning to HSBC México. I oversaw legal structuring, documentation and regulatory compliance throughout the process, ensuring a seamless transition in accordance with Mexican financial and real estate regulations. I coordinated with internal teams, external advisers, and both financial institutions to manage stakeholder communications and mitigate operational risks during the transition.
I advised on the structuring and execution of the acquisition and sale-and-leaseback of a prime industrial logistics facility in Vallejo, Mexico City. I led legal due diligence, negotiation and documentation of transaction terms. I ensured compliance with regulatory requirements and supported risk mitigation strategies to safeguard FIBRA Macquarie’s interests. The transaction positioned the fund for future rental growth in a key urban logistics submarket.
I also participated in the structuring and execution of a major sustainability-linked refinancing for FIBRA Macquarie, which strengthened the fund’s capital structure and extended debt maturities. My role included supporting the alignment of the financing strategy with ESG objectives, overseeing legal and regulatory aspects to ensure a successful closing, and coordinating with stakeholders and lender groups to facilitate a smooth process that advanced the fund’s strategic initiatives.
What measures has your company taken to embed sustainability practices into its core business operations, and how does the role of the general counsel contribute to driving and ensuring sustainable practices within the company?
Macquarie Group has made sustainability a core part of its business strategy, integrating ESG principles across global operations. Where material and in line with our fiduciary duties, Macquarie Asset Management applies ESG criteria to investment decisions, asset management and due diligence, with an emphasis on green building certifications and energy-efficient infrastructure in its Real Estate division. Where Macquarie Asset Management has control or significant influence, it will invest and manage its portfolio in line with net zero Scope 1 and 2 financed emissions by 2040. As a global corporate, Macquarie Group is committed to net zero on Scope 1 and 2 emissions by FY2025 and to reducing Scope 3 upstream emissions, while actively supporting clean energy projects.
I’m part of Macquarie Asset Management’s internal legal team which plays a key role in advancing sustainable practices by integrating the ESG business strategy into our funds’ strategies, investments and portfolio companies, and ensuring these objectives are reflected in policies, compliance and risk management. By advising leadership, facilitating ESG-linked transactions, drafting sustainability-related legal documents and ensuring regulatory compliance, the legal team helps drive accountability and transparency.