Ferrere assists Agri Terra in deal with Marriott International
Ferrere, through its team in Paraguay, has assisted Agri Terra in the conclusion of several agreements with the Marriott International business group, for the operation and management of the first “five star plus” luxury hotel in Asuncion.
The project, which will be developed by Agri Terra, will carry the global “JW Marriott” brand. The project involves the construction of a new mixed-use building in the heart of Asunción’s new financial and business district. In addition to housing the first JW Marriott hotel in Paraguay (and the seventh in South America), the building will also comprise commercial, corporate and residential units, and represents a major investment in the national real estate and hospitality sectors.
The location will be designed by DPA Designs and, once completed, will become an icon of the city’s urbanism. Construction will begin in 2024 and will employ more than 3,000 workers.
The consultancy involved the analysis and negotiation of the transaction documents, including several complex management, licence, royalty and service agreements, assisting in the corporate and financial structuring of the project. In addition, the team conducted a full review of all legal and factual conditions with respect to the properties on which the project will be built. In addition to the corporate and real estate aspects of the transaction, the agreements with Marriott covered a number of specific legal issues, including hotel, intellectual property, employment, administrative and regulatory matters.
Ferrere’s team led by partner Carlos Vasconsellos (pictured) and lawyers Guillermo Jover and Fernanda Benítez.
