Urban Retail Portfolio Disposition

While at DTZ Rockwood, Gabriel served as a sell-side advisor to a private developer/owner in the sale of a 50% interest in a 2 million square foot retail portfolio valued at USD $300M to ING Clarion.  Upon closing, the portfolio became the seed asset for Lion Mexico Fund, and marked the beginning of Gabriel's tenure as advisor to Clarion Partners. For the buyer, the acquisition strategy was to take advantage of the arbitrage in cap rates for comparable core assets between the US and Mexico, and to form a partnership with a leading retail developer in future developments.  For the seller, the sales rationale was meant to diversify risk by having a second owner and to use the proceeds from sale to raise capital for new developments. Summary information on three of the six assets is provided below. 

Mundo e

540,000 SF Class A Retail and Entertainment center

Anchored by Best Buy, Cinemex, Sport City, Zara, C&A; Shadow-anchored by Chedraui

Built in 1998

Attracts 1.2 million visitors per month

plaza aragon

950,000 SF GLA Class A Retail Center

Anchored by Walmart, Suburbia and Bodega Aurrera

Built in 1978 with major expansions in 1997-2000 and 2005-2006

Average historical occupancy 99%

plaza valle dorado

105,000 SF GLA Class B Retail Center

Built in 1990

Anchored by Gigante

100% occupancy