Peruvian law firm Miranda & Amado acted for TC Latin America Partners on the acquisition of a majority stake in two real estate entities controlled by InGroup.
TC Latin America Partners is an SEC-registered alternative asset management firm. It is headquartered in New York and has offices in Bogota, Lima and Mexico City. The company manages real estate funds investing in residential, commercial and industrial projects in Latin America.
InGroup is a holding company which controls a number of real estate developers including the targets on this transaction Inmobiliaria Jufer and Promotora Inmobiliaria Monterrico. According to media reports, InGroup is struggling financially with the real estate downturn in Peru and is shedding assets to alleviate its debt.
Jufer and Monterrico owned Villa In El Polo, a high-end residential real estate project located in Santiago de Surco, a district in Lima. With the transaction, which value was not disclosed, TC Latin American Partners has acquired full control of Villa In El Polo.
Partner Luis Marcelo De Bernardis led the Miranda & Amado advising TL Latin American Partners.