Weekly Roundup
Top headlines and news impacting Latin America and Africa commercial real estate.
Important Headlines
The largest mall in the northwest portion of Medellin, Colombia is expanding. The expansion will cost $88.4 million, and deliver 500 additional shops and 908,500 ft2 (i.e., 84,400 m2) of build area. The expansion will be anchored by free and paid entertainment facilities, not a traditional anchor. Observers expect expansion of malls in Colombia to be the theme now after a decade long explosion of new retail developments.
Sam Zell changed the face of real estate, research his achievements if you aren’t already familiar. He was a supporter of Latin America’s REIT ecosystem and made investments in Colombia, Mexico and Brazil.
In a move to unite more of the country by rail the Mexican marines seized a railway portion owned by a Mexican billionaire who is on the verge of purchasing Citigroup’s Mexican retail banking operations. In March, the Mexican President seized a seaport owned by an Alabama company, Vulcan Materials.
Vantage Capital announced an exit of its investment in Cap Tamarin, a smart city development in Mauritius. It has previously raised $1.4 billion across seven mezzanine and renewable energy debt funds and has made 57 investments in Africa.
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