The Firm recently represented Macquarie Mexican REIT (FIBRA Macquarie México) (“MMREIT”) in connection with its US$909.4 million initial public offering of Real Estate Trust Certificates (Certificados Bursátiles Fiduciarios Inmobiliarios, or “CBFIs”) on the Mexican Stock Exchange. The CBFIs were offered to the public in Mexico, to qualified institutional buyers in the United States under Rule 144A and to non-U.S. persons in reliance on Regulation S. MMREIT used the proceeds in connection with its acquisition, simultaneously with its initial public offering in Mexico, of its initial portfolio, consisting of 244 industrial real estate properties located in 21 cities across 15 states in Mexico. In addition to the proceeds from its initial public offering in Mexico, MMREIT financed the acquisition of its initial portfolio through four secured credit facilities.
The Firm also represented MMREIT in connection with a US$182.5 million real estate financing with Metropolitan Life Insurance Company, which is one of the credit facilities used by MMREIT to finance the acquisition of its initial portfolio.
MMREIT is a real estate investment trust (fideicomiso de inversión en bienes raices, or “FIBRA”) targeting industrial, office and retail real estate opportunities in Mexico. MMREIT will be managed by Macquarie México Real Estate Management, S.A. de C.V., a newly formed entity of Macquarie Infrastructure and Real Assets, a division of Macquarie Group. Macquarie is a global provider of banking, financial, advisory, investment and funds management services. Macquarie acts on behalf of institutional, corporate and retail clients and counterparties around the world, operating in more than 70 office locations in 28 countries, with assets under management of over US$353 billion as of September 30, 2012. Macquarie Infrastructure and Real Assets is a leading global alternative asset manager specializing in investments in the infrastructure, real estate, agriculture and energy sectors across 25 countries, with $AUS100 billion of assets under management as of September 30, 2012.
MMREIT’s initial public offering is one of the first public listings of a FIBRA in Mexico, and its initial portfolio, which was acquired from third-party institutional real estate investors, is the second largest industrial real estate portfolio in Mexico, based on gross leasable area.
The Simpson Thacher team in connection with the initial public offering included Juan Francisco Mendez, David Williams, William Langer and Regina Madrid Pesqueira (Capital Markets); Tom Bell, Lisa Klar, Olga Gutman, Dorothy Mehta and Ekwutozia Nwabuzor (Private Funds), Jon Cantor and Danny Salinas (Tax) and Alvin Brown and Jeanne Annarumma (Executive Compensation and Employee Benefits). The Simpson Thacher team in connection with the real estate financing included Scott Kobak and Alexander Labowitz.
