About

Led by Armando Ascencio Pérez, as Corporate CEO and general counsel, the legal team at Grupo FRISA is made up of 11 lawyers and nine non-lawyers. FRISA is dedicated to real estate development and has interests in a range of industries, which encompasses developing and managing housing, tourism and shopping centres. The legal team is at the forefront of conducting government affairs in order to obtain the approvals needed to build and manage various properties. The team also work closely with the lead architect, utilising their legal knowledge for the processes required to obtain necessary permits and approvals. The last five years have been a period of growth for FRISA, and this has resulted in an uptick of activity for the legal team as they stay abreast of significant changes. One such change is the transition of roles within the team itself, including the hiring of a new chief legal counsel, Erika Aarun Cordero, who joined in May 2016. Ascencio Pérez concedes: ‘Such a transition has been very difficult, because our 60 years of history in real estate is difficult to learn in just a few months, so the rest of the team has struggled through such changes. The chief legal counsel has done a remarkable job keeping the ship on course and consulting me as less as possible’. Despite the recent challenges, three counsel from the team particularly stand out for their work on pivotal acquisitions. Marco Antonio Martínez; Dennise Mondragón and Carlos Andrés López Rincón (covering corporate, transaction and litigation respectively) – these three handled separate acquisitions made of two different portfolios of the shopping centre division. The level of expertise that they displayed during these transactions meant that there was need for very little assistance from outside counsel. The team as a whole has been praised for diminishing the value of legal fees, and accelerating the closing processes.