Cuatrecasas advises Core Capital SAFI on crossborder financing to acquire land in Edgewater, Miami
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SubscribeCuatrecasas advised Core Capital SAFI S.A. on completing crossborder financing to acquire land in Edgewater, Miami, USA. The transaction consisted in a private issuance of securitized bonds issued by BD Capital Sociedad Titulizadora, backed by a securitization trust incorporated in Peru.
This transaction places Core Capital SAFI among investors as an entity capable of implementing complex crossborder financing transactions. The incorporation of an autonomous trust estate, separate from the originator’s estate, means that the transaction risk is limited to the assets transferred to the trust.
Jose Goyburu, lead partner on the transaction, said: “This transaction confirms that the Peruvian capital market has the maturity and sophistication to finance real estate investments abroad. We worked on a structure involving many jurisdictions and which, through a securitization trust, enables Peruvian investors to access the US real estate market with legal certainty and tax efficiency. Cuatrecasas is proud to have been able once again to assist Core Capital with a significant and complex transaction, which opens the way for new crossborder financing transactions from Peru.”
The advisory team from the Cuatrecasas Lima office was made up of Jose Goyburu, Diego Carrión and Enzo Rodríguez.
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