Alójica secures loan to acquire and renovate Cancún hotel

Posted on Jan 29, 2024

Mexican real estate investment management firm Alójica has secured a credit facility from Mexican bank Banorte for the acquisition and renovation of The Royal Islander hotel in Cancún, in the southeast Mexican state of Quintana Roo.

The amount of the loan was not disclosed.

Alójica is part of Black Creek Mexico, a leader in capital raising in Mexico with $3.6 billion of institutionally-funded vehicles for real estate investments since 1996.

Black Creek Mexico’s platforms have sponsored 16 institutional funds, including 5 CKDs and the first CERPI issuance, and has a portfolio of more than 175 industrial, retail, residential, hotel, and multifamily properties developed or acquired and operated since inception.

Mexican law firm Ritch Mueller represented Alójica in the financing and the acquisition, with a team led by partner Santiago Carrillo Cattori, with Manola Giral Serra, Regina Domínguez Villarreal and Rodrigo Vázquez Sainz.

Carlos Galván Duque acted as counsel to the lender.