We advise BBVA Bancomer on financing to acquire St. Regis Punta Mita Resort

The Cuatrecasas team in Mexico advised BBVA on financing provided for a 50:50 joint venture between Vertex Real Estate Investors and the MRP Group to acquire the St. Regis Punta Mita Resort in the Nayarit Riviera (Mexico).

The investor consortium, with Vertex acting as structuring agent for the acquisition, acquired the resort, which has 120 guest rooms and suites and will continue to be run by Marriott International under a long-term management agreement.

This complex transaction, the first of its scale to be negotiated and closed in the hotel industry since the start of the pandemic, consolidated BBVA as a player in the hotel financing market in Mexico.

The St. Regis Punta Mita Resort, regarded as one of the leading luxury resorts in the world, is located within the exclusive Punta Mita Master Plan on the Nayarit Riviera. The new owners have drawn up a plan to renovate and reposition the property located in Mexico’s Pacific coast.

The Cuatrecasas Mexico City office team was made up by León López, José Núñez, Juan Carlos Galicia, Alberto de Villa, Ana Isabel Echeverría and Emilio Ruvalcaba.

According to José Núñez: "In a very complex economic and social environment, we were able to close this landmark transaction in finance and M&A. To be able to close this high-end transaction during a drop of hotel occupancy, prices and the economy in general represented a great challenge for all of the teams involved".

To be able to close this high-end transaction during a pandemic context represented a great challenge for the team.

José Núñez, 2021