Haynes and Boone in Latin Lawyer: Blackstone buys GE’s Mexican real estate assets


Mexico’s Creel, García-Cuéllar, Aiza y Enriquez SC and Haynes and Boone SC, the New York and Dallas offices of Haynes and Boone LLP, and the New York office of Simpson Thacher & Bartlett LLP have helped Blackstone, the world’s largest real estate private equity fund, acquire the Mexican real estate assets of US conglomerate General Electric in a deal worth US$3.3 billion.

GE Real Estate México turned to Nader, Hayaux & Goebel for the sale. The deal closed on 12 August.

The acquisition marks Blackstone’s entry to the Mexican real estate market and signals GE’s departure. It saw Blackstone buy GE Real Estate México’s real estate portfolio manager CRE and take on GE’s Mexican loan portfolio. The portfolio consists of hundreds of loans to Mexican companies backed by real estate pledged as collateral.

Blackstone funded the deal with three financing facilities from GE collectively worth US$2.8 billion. The private equity company recruited Creel García-Cuéllar for the financing leg, while GE relied on Nader Hayaux and the New York office of Paul Hastings LLP. Blackstone is also thought to have hired Gibson Dunn & Crutcher LLP, but this was unconfirmed ...

Haynes and Boone SC: Partners Antonio Diez de Bonilla, Luis Moreno and Jorge Labastida, counsel Rafael Carmona and associates Gerardo Adame, Cesar Ramirez, Damian Gonzalez, Antonieta Cruz, Roxana Burciaga and Roberto Guerrero in Mexico City.

Haynes and Boone LLP: Partners Steven Koch and Aaron Beim in New York and partner Alberto de la Peña and associate Eduardo Marquez in Dallas.

Excerpted from Latin Lawyer. To read the full article, please click here (subscription required).

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