Philippi Prietocarrizosa Ferrero DU & Uría advised Parque Arauco and Colvalor

Philippi Prietocarrizosa Ferrero DU & Uría advised Parque Arauco and Colvalor (a joint venture formed by Blackstone, Pegasus and Ospinas) on the COP$224,000,000,000 (approx. US$64 million)

Philippi Prietocarrizosa Ferrero DU & Uría, with partner Juan Carlos Rocha(pictured) and associate Pedro Arango, advised Parque Arauco and Colvalor (a joint venture formed by Blackstone, Pegasus and Ospinas) on the COP$224,000,000,000 (approx. US$64 million) financing granted by Scotiabank Colpatria for the development of the Parque Alegra shopping mall located in the city of Barranquilla. The advisory involved the negotiation of the credit agreement and several collateral documents (all governed by Colombian law), as well as assisting in the satisfaction of all conditions precedent to closing. Gómez Pinzon Abogados, with partner Daniel Londoño and associatesCatalina Prieto, María Gabriela Dávila and Silvia Robledo, acted as counsel to the lenders. The transaction required the structuring of a complex and innovative corporate regime of the borrower, given that the latter is a trust rather than a company.