Carey & Cía has advised Sencorp, Chilean real estate development company, on the sale of Parque Titanium real estate project’s Tower A and Convention Center to Toesca fund for a total of $170m, structured as company stock and real estate purchase agreements.
Parque Titanium project is a real estate development designed by the architect Abraham Senerman Lamas. Located in the finantial district of Santiago, the development features cutting-edge technologies that allow significant savings in the consumption of resources, as well as minimize their impact on the environment.The project consists of three office buildings with 23 floors each, as well as a modern convention center with a capacity for approximately 1,800 people. The total investment amounted to $180m.
This transaction is Sencorp’s largest office block deal to date, and one of the largest in Chile excluding malls and shopping centers. With this sale, The Parque Titamium deal has been finalized. The agreement was closed on November 23th.
Carey & Cía acted as legal counsel to Sencorp with a team led by partner Jaime Carey and assisted by associates Matías Vergara, Patricio Laporta and Carmina Hernández. Claro & Cía acted as legal counsel to Toesca.