Equity International invests in Mexican developer
A consortium led by Equity International has closed on a new investment in Grupo Acosta Verde, a Monterrey, Mexico–based developer, owner and manager of shopping centers in Mexico.Terms of the deal were undisclosed.
Other firms in the consortium include funds managed by the BlackRock Alternative Solutions group and Madrid-based investment manager Altan Capital.
Acosta Verde has developed 35 retail properties since 1992 and currently manages 26 shopping centers, of which it owns 11. The company’s portfolio is known for its high quality and comprises approximately 1.7 million square feet across 15 states in Mexico. Acosta Verde created the Senderoshopping center brand and targets middle-class consumers.
According to Equity International, the increasing purchasi