White & Case advises Fibra Shop on real estate joint venture with Grupo FREL

Global law firm White & Case LLP has advised Fibra Shop, an investment trust vehicle under Mexican law dedicated to the acquisition, development and operation of shopping centers in Mexico, on its joint venture with leading Mexican real estate developer Grupo FREL to integrate the "Puerto Paraíso" and "Vía Paraíso" shopping centers owned by Fibra Shop and FREL, respectively, located in Los Cabos, Baja California, Mexico.

The purpose of the transaction is to maximize the value of both shopping center properties. White & Case's role included the complex structuring of the special purpose vehicle trust agreement, as well as detailed due diligence of each of the properties, regulation of governmental authorizations and permits, and the management of cash flows from existing lease agreements.

The White & Case team was led by Capital Markets partner Carlos Mainero, and included Real Estate local partner Alfonso Vargas Mayoral and Capital Markets associate Ricardo Medina Garcia (all in Mexico City).

Alfonso Vargas Mayoral's arrival to White & Case as a local partner continues the growth of the Firm's market-leading Real Estate offering in Mexico City, and further demonstrates its commitment to expanding across Latin America.

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