On August 22nd it was announced that Santander provided Be Grand with the financing for a residential and office complex in Mexico City.
2.4 billion pesos were granted for the development and construction of the complex.
Sociedad Hipotecaria Federal, Banco del Bajio and Banco Monex participated in the financing, alongside Santander. This case is one of the few examples of bridge syndicated loans for a residential project in Mexico.
The deal was finalized on August 15th and the law firm Galicia Abogados assisted Santander in the legal side of the operation. Mijares, Angoitia, Cortes y Fuentes, S.C. worked as an outside counsel for Be Grand.