DLA Piper Martínez Beltrán represents Parque Arauco in establishing investment vehicle for multifamily housing project in Colombia
DLA Piper Martínez Beltrán represented Parque Arauco in the creation of an investment vehicle to fund 300 multifamily residential housing units in Medellin, Colombia. The investment is worth approximately US$23 million and follows the organization’s commitment to building a 132-unit residential building in Bogotá, Colombia.
Parque Arauco will partner with Hasta Capital, a company with extensive experience in the development and management of multifamily projects, to build the housing complex. Parque Arauco will own 95% of the assets while Hasta Capital will own the remaining five percent.
“We are honored to help Parque Arauco establish the investment framework needed to get this project off the ground,” said Juan Manuel de la Rosa, the DLA Piper Martínez Beltrán partner who led the firm’s representation. “As the real estate market grows in key markets like Colombia, we are excited to utilize our cross-border legal expertise to help support this important project.”
In addition to De La Rosa, the DLA Piper Martínez Beltrán team advising Parque Arauco included associate director María Alejandra Buitrago, senior associate Juan Carlos Gambín and associates Alejandro Restrepo and Fransheska Jiménez Suárez (all of Bogotá).
With more than 1,000 corporate lawyers globally, DLA Piper helps clients execute complex transactions seamlessly while supporting clients across all stages of development. The firm has been rated number one in global M&A volume for 12 consecutive years, according to Mergermarket.