Cuatrecasas advises IDB Invest on providing financing to reduce housing deficit in Quintana Roo, Mexico
Don’t miss our content
SubscribeCuatrecasas has advised IDB Invest on granting a new revolving credit line of up to MXN 700 million in favor of Corpovael (CADU), a developer specializing in affordable housing. The financing consists of a committed tranche and an uncommitted tranche and will support the building and development of green social and medium-income housing, particularly in the state of Quintana Roo.
Between 2025 and 2030, over 17,000 houses are planned to be built, the majority made with sustainable technologies. The transaction involves a significant environmental, social and governance component and introduces financial incentives aimed at women. IDB Invest will provide technical support to strengthen community engagement, design a commercial strategy that increases women's participation as homebuyers, and integrate a Nature+ approach that boosts nature-based solutions for climate adaptation.
Gizeh Polo, leading partner of the transaction, commented: “We are proud to partner with IDB Invest on these types of projects, and to offer our abilities as lawyers in Mexico to contribute to innovative projects that above all, have a huge social and environmental impact, with specific metrics, programs and reports for measuring progress in these areas. We appreciate the trust that our client and CADU placed in us.”
The Cuatrecasas advisory team from the Mexico City office was made up of lawyers Gizeh Polo, Lorenzo Muñoz and Daniela Sancliment. The IDB Invest team was made up of Martha Fernández, Gabriela Nassau and Miguel De la Fuente; and CADU’s team included Yazmín Figueroa, Israel Godina and Mauricio Torres.
Don’t miss our content
Subscribe