Ivanhoé Cambridge invests in Mexico with new partner
Ivanhoé Cambridge has formed a new partnership with Black Creek Group, a real estate private equity firm with experience sponsoring real estate companies in Mexico, to invest up to $500 million in real estate development in Mexico.
Ivanhoé Cambridge, together with Black Creek, will invest in the development of mixed-use urban communities in the main cities of Mexico, including Mexico City, Monterrey and Guadalajara. The investment will be by way of MIRA, a fully integrated real estate development platform.
Ivanhoé Cambridge’s first $100 million investment, using the MIRA platform, will target a residential development project in the Mexico City submarket of Cuajimalpa, adjacent to the Santa Fe business district. The project consists of two residential condominium buildings with approximately 500,000 square feet of space comprising 479 residential units.
Ivanhoé Cambridge is a real estate subsidiary of the Caisse de d&