Cuatrecasas has advised Mega Storage Colombia, part of the Mega Storage Group in Panama and Colombia, on acquiring a mini self-storage business (U-Storage) owned by Pactia Fondo Inmobiliario. The acquisition involved transferring both the commercial establishments and real estate assets through which the business is conducted, and the financial debt related to the assets.
With this transaction, Mega Storage continues to consolidate its presence in the mini self-storage business in major Colombian cities, including—at the closing of the transaction—Bogotá, Medellín, Cali, Cartagena, and Barranquilla.
"This transaction was particularly complex due to the acquisition structure of the assets and liabilities related to the self-storage business. On the one hand, it involved coordinating several parties—the buyer, seller, banks, and trustee—to conclude the transaction and, on the other, a novel and sufficiently robust guarantee package also had to be structured for the interested parties. But beyond the challenges inherent in the transaction, the key point to highlight is its importance in our client's business consolidation strategy in Colombia," said Felipe Mariño, a Corporate and M&A lawyer at the Bogotá office who led the legal advisory team, which included Daniela Duarte (Corporate and M&A); Laura Pinzón (Real Estate); and Jaime Vargas and José Manuel Jaramillo (Tax).
Equally noteworthy is the team's collaboration with Davivienda Corredores, the client's financial advisors.
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