Undoubtedly one of Mexico’s predominant forces in real estate practice, the ‘attentive’ and ‘robust’ team at Creel, García-Cuéllar, Aiza y Enríquez, S.C. garners praise for its ‘exceptional knowledge of real estate issues’ and skill at negotiation. The group’s expertise encompasses the regulatory aspects of direct and structured investment, and  strategic property acquisitions in the industrial, retail, commercial, tourism & leisure, residential and urban segments, as well as the development, management and operation of real estate projects. It is routinely instructed by local and multinational developers, promoters, tourism and hospitality companies, and investors – including real estate funds, Mexican CKDs, CERPIs and FIBRAs. The practice is co-led by Monterrey office head Francisco Montalvo, who has a strong track record advising domestic and multinational conglomerates on the acquisition and development of tourism, industrial and residential developments, as well as on the acquisition and divestiture of companies and assets in northern Mexico; and Carlos de Icaza, who works from Mexico City and has led on numerous innovative real estate transactions, often representing industrial groups, real estate investment trusts, development companies and private equity funds. Carlos del Río handles M&A, private equity and real estate transactions from the Mexico City office; Monterrey-based Badir Treviño-Mohamed advises real estate developers, administrators and investors (including international real estate funds, Mexican CKDs and FIBRAs), on the legal and regulatory aspects of investments in real estate for industrial, retail, commercial and tourism purposes. At of counsel level, key contacts include D&I director Valentina Villa and Alejandro Castelló, both of whom focus on real estate and environmental matters; Carlos Yamamoto (real estate and transactional matters); and Alfonso Pulido, who is seen by one client as ‘one of the best real estate lawyers in Mexico’ and is well-versed in the acquisition and sale of industrial and commercial real estate portfolios. Senior associate Brenda Elizondo is also noted.

The ‘talented and responsive’ team at Greenberg Traurig, S.C. is routinely instructed by property developers, lenders, investment managers and private equity funds for assistance with real estate matters. The group’s expertise encompasses the acquisition, development, financing and sale of commercial, recreational, and residential real estate, as well as the stabilisation of projects, loan restructurings, joint ventures, and lease agreements. The practice is co-led by an experienced duo comprising Antonio Diez De Bonilla Martinez, who is praised for his ‘exceptional negotiation skills’ and has focused his practice on joint ventures, M&A, and the sale, purchase and financing of real estate; and Gerardo Carrillo Valadez, who handles real estate development and M&A transactions, and also has niche knowledge of mixed use and multifamily properties. Tax specialist Eduardo Medina Zapata brings over two decades of experience to the table, and majors on tax consulting and the structuring of private and public real estate investment funds and joint ventures. Additional key figures include senior associates Roberto Guerrero C, who handles all types of transactions related to the development and financing of real estate projects; and Julio Sardina, who is singled out for his ‘creative problem-solving mindset’. Sardina handles US-Mexico cross-border real estate matters, particularly the legal aspects of structuring and financing of residential, commercial, industrial and hospitality development projects. Since publication, Guerrero has been raised to shareholder - effective as of January 2024.

The compact team at Mijares, Angoitia, Cortés y Fuentes S.C. has a first-rate real estate offering, and is adept at advising real estate investors, developers, and construction companies on transactional and regulatory matters. Well-equipped to handle commercial, industrial, residential, and tourism developments, the group also advises on real estate financings, asset and mortgage securitisation structures and M&A. The practice is jointly led by Lorenza Langarica, who is well-versed in structured financings, corporate, M&A, real estate and energy matters; and Eugenio Macouzet, who has focused his practice on advising hospitality companies and investors on the legal and regulatory aspects of real estate investments in the commercial, residential, hospitality and industrial sectors. Partner Carlos Jiménez Cantú has experience in portfolio acquisitions and the representation of FIBRAs in domestic and cross-border financing transactions; founding partner Patricio Trad, Manuel Echave and Ignacio Armida are additional department figures of note. Associates Juan Pablo Betancourt (corporate, financings and transactional matters), Rodrigo González Duarte Morales (project finance, energy, M&A), and Imanol Sánchez-Mújica (real estate development), who is currently undertaking his LLM, all engage in real estate-related matters.

The ‘skilled and experienced’ team at Nader, Hayaux y Goebel, SC is known for its experience in real estate project financings, lease agreements, joint ventures, due diligence work connected to real estate sales and purchases, and the creation of foreign investment trusts. The ‘professional and committed’ group is regularly instructed by major local and multinational banks, hotel groups and SOFOMES. Michell Nader steers the practice and handles financings, acquisitions and capital markets transactions in the real estate sector. Vanessa Franyutti is active on real estate finance and investment deals involving the retail, residential and industrial properties, and has additional niche expertise with regards to the hospitality segment. Eduardo Villanueva Ortiz routinely participates in complex cross-border real estate deals – namely financings, acquisitions and fund formation – in the retail, residential, industrial and hospitality segments. Alejandro Rojas covers real estate acquisitions and investments, often those involving hotels, industrial parks and time-share regimes; Javier Arreola and Julián Garza support on fund formation. Federico Vergara, who was promoted to of counsel in March 2022, assists on project finance, real estate and antitrust matters.

The team at Ritch, Mueller y Nicolau, S.C., commended by one client as ‘highly knowledgeable on both theoretical and practical aspects of the law’, routinely handles a broad range of matters including private and public real estate fund formation, financings and refinancings, as well as representing real estate investment trusts in their equity and debt investments in Mexico and assisting with related tax and regulatory issues. The group demonstrates strength above all with regards to industrial portfolios, however it also deals with office and residential real estate. Practice co-head Javier Domínguez Torrado has significant expertise advising real estate investment funds and other investors on property acquisitions, disposals, financings, and the development and management of assets. Leading alongside him, Jean Paul Farah Chajín specialises in M&A, infrastructure and real estate finance. Santiago Carrillo Cattori, promoted to the partnership in January 2022, majors on financings, acquisitions and developments relating to industrial and hotel assets, representing domestic and foreign financial institutions, private equity firms and developers. Alfonso Alberto Vargas, who handles finance, M&A and real estate matters, is the key name to note at associate level. Since publication, Vargas has left the firm - effective as of December 2023.

Lauded by one client as ‘one of the most skilled in the market’, the group at global powerhouse Baker McKenzie Abogados, S.C. is known for its broad real estate offering. It is well equipped to assist with land acquisitions, sale, purchase and lease agreements, financings and joint ventures, structuring and securitisations, as well as market entry and exit strategies. Operating from five strategic locations across the country – Guadalajara, Ciudad Juárez, Monterrey, Tijuana and Mexico City – the ‘highly knowledgeable, responsive, and professional’ team routinely assist foreign multinationals and hotel groups with industrial, commercial, residential and tourism real estate projects. The practice is co-led by a trio of experienced partners: Juan Bernardo Garcia heads up both the Monterrey office and the firm’s global real estate and infrastructure practice group; his primarily transactional practice is firmly focused on real estate, development and construction law. José (Pepe) Larroque leads from Tijuana and handles the structuring of cross-border real estate transactions for the acquisition, development and financing of real estate and infrastructure projects; Guadalajara-based co-head Fabián Monsalve also leads the firm’s North America real estate practice, and specialises in project finance, real estate and M&A. Key senior associates support the partners across the range of matters, namely: Gabriela Saucedo (Monterrey), Roberto Cantu-Dessommes (Chicago), Carlos Maass-Porras (Ciudad Juárez), the ‘knowledgeable and available’ Juan Carlos Guerra-Gascon and Alejandra Muriel-Vizcaino (both in Guadalajara); and Atziri Rosado-Ontiveros (Mexico City).

In the words of one client, the team at Galicia Abogados S.C. has an ‘in-depth understanding of the real estate sector that other teams lack’. Lauded by another for its ‘high level of knowledge, professionalism, organization, attention to detail and response times’, the 12-strong group is known for advising FIBRAS, banks, real estate developers and hotel groups on commercial, industrial and residential real estate matters. Land acquisitions, joint ventures, real estate financings and refinancings, leasing and property management, real estate litigation, and environmental and regulatory matters are among its core strengths. Ramiro Sandoval co-heads the practice and routinely advises clients in the hospitality sector on complex real estate transactions; alongside him, Rodrigo Rivera is well-versed in real estate financing and related ESG matters. Key senior associates Roxana Schäfer and Mariana Islas support the partners on transactional real estate matters.

Praised by one client as a ‘firm that inspires confidence from the first moment’, Santamarina y Steta’s real estate group is routinely instructed by international corporations working in the retail, food, luxury goods, energy and logistics sectors. The ‘highly professional and experienced’ team is well-equipped to handle agrarian and urban development matters, land acquisitions, leases and sales, financings and real estate-related due diligence for industrial, residential, tourist, mixed-use and ejidal properties. At the helm of the practice, Vicente Grau regularly advises clients on the acquisition, leasing, development, construction and sale of real estate properties, and is lauded as a ‘specialist’ who offers ‘efficient and comprehensive solutions’. Partner Claudia Rodríguez assists local and international clients with the structuring, planning and implementation of operations for the acquisition, financing, development, leasing and sale of real estate, with a particular focus on the commercial and industrial sectors. Senior associate Ivan Szymanski is active on compliance and real estate matters, while associate Yakov Kobets majors on the structuring and execution of projects related to the acquisition or sale of assets, as well as related due diligence work. Since the conclusion of research, Szymanski has sleft the firm - effective as of September 2023.

The lawyers of SMPS Legal’s ‘highly coordinated’ team are regularly sought out by developers, creditors and investors for their ‘solid training, experience and ethics’. Areas of expertise include the structuring of real estate projects, purchase, lease and sale agreements, financing, development, construction and related due diligence. The practice is co-led by a trio of partners, comprising: María Teresa Paillés, who specialises in real estate along with associated M&A and financial and credit operations, and brings three decades' experience to the table; Andres Pizarro Suarez, who has focused his practice on matters including complex trusts, escrow operations and real estate trusts; and Eduardo Pizarro Suárez, who stands out for his ‘outstanding knowledge and efficient and practical solutions’. Key partner María Esther Rey majors on real estate M&A, loan agreements and project finance structures, as well as guaranty structures for real estate. Senior associate-level support comes from Andrés González (real estate, corporate and finance) and Nadiezhda Vázquez Careaga (corporate law, real estate, and M&A).

‘Willingness, availability and dedication’ are the calling cards of real estate boutique TA Trujillo Abogados, which is known for its expertise with regard to the structuring of investment vehicles, joint ventures, development matters, and the acquisition and sale of all asset types in Mexico, including industrial premises, retail centres, offices, hotels and residential buildings. Legal due diligence, structured finance, senior, syndicated, recourse, cross-collateralized and non-recourse loans; and trusts, mortgage and pledge securities are additional areas of expertise. Clients – including local and international property developers, FIBRAS and pension funds – roundly praise the 14-strong team for the personalised service it provides. Practice head Alejandro Trujillo, singled out for his ‘impeccable client service’, gained substantial in house experience before entering private practice; he specialises in advising clients on joint ventures, the creation of special purpose vehicles, and the acquisition, development, management, leasing and disposition of assets, as well as all types of real estate financing. Monterrey-based partner Alejandra Boj focuses on the drafting and negotiation of purchase and sale, lease, development and property management agreements; Miguel López handles the analysis, structuring, financing and implementation of real estate operations in Mexico. At associate level, key contacts include Marian Garcia, who assists with transactions related to the acquisition and sale of shopping centers and industrial assets; Guillermo Christy, (due diligence, reports on risk assessments, drafting and negotiating master purchase & sale agreements); and Oscar Arroyo, who majors on the structuring of real estate financing and is billed by one client as ‘proactive and always available when you need him, providing sound legal advice’.

The 14-strong group at Cannizzo, Ortiz y Asociados SC, lauded for the ‘great attention to detail and personalised service’ it offers, is well-equipped to advise on the structuring and implementation of property acquisitions, handling negotiations, sales and all development activities necessary for the completion of real estate projects. The ‘knowledgeable and hardworking’ team is regularly sought out by investment and real estate funds, hospitality and leisure companies, commercial and industrial developers, governmental agencies, institutional lenders and other investors. The practice is co-led by Carlo Cannizo, who specialises in cross-border real estate transactions, as well as infrastructure, construction, finance and M&A; and Mauricio Moreno-Rey, who represents clients from a range of sectors including hospitality, industrial, commercial and residential real estate, and infrastructure. Roberto Canizzo, Marco Cannizzo and Stefano Amato are all active on real estate, corporate and M&A transactions; while Enrique García majors on real estate acquisitions in the tourism and industrial segments, along with real estate structured finance and securitisation and construction deals. Associate Emiliano Quiroz assists with domestic and international transactions involving the financing, acquisition and sale of real estate developments in Mexico, as well as corporate and compliance matters. Associate Alexandra Lefterache left the firm, effective August 2022.

The ‘multidisciplinary and committed’ group at CMS Woodhouse Lorente Ludlow is lauded by one client as providing ‘an unbeatable service’ in real estate matters. The group advises developers, institutional investors, and lenders on all necessary areas of real estate projects, including the purchase and sale of land, assistance with real estate financing, and the efficient administration of real estate portfolios. The ‘attentive, diligent and friendly’ team of lawyers is led by César Armando Lechuga, wo is highlighted for his ‘proactivity, willingness and skill at conflict mediation’. Lechuga’s practice is focused on the purchase and sale of real estate assets of all kinds, as well as the drafting, negotiation and implementation of transfer of rights contracts. Key partner Enrique Lorente Ludlow represents landowners, developers and investment funds on complex lease arrangements, as well as on the sale and purchase of commercial, industrial, residential and corporate properties. At associate level, Luis Mora y Medrano advises on real estate matters related to the energy segment; he is praised for his ‘great knowledge of the sector’. Associate María José Estrada Suárez left the practice in January 2023.

The team at Creel Abogados, SC specialises in advising funds, investors, developers, financial institutions and retail groups on the full range of real estate matters, including real estate portfolios, the sale and acquisition of properties, project development, financing, due diligence, investments, lease agreements, and real estate trusts. Gustavo Struck Creel and Alfonso Razú co-lead the practice and both handle corporate and real estate matters. Jorge Torres covers hospitality, retail, industrial and residential real estate projects and is an additional key partner-level contact.

Hogan Lovells houses a ‘technically sound’, eight-strong real estate practice that is known for its expertise in real estate due diligence, the sale and acquisition of real estate, leasing and condominium regimes, construction, litigation, and the operation and management of real estate developments. The ‘outstanding’ team regularly counsels international real estate developers and corporations, and operates under the leadership of a trio of experienced partners: Juan Francisco Torres Landa specialises in project financing, foreign investment and M&A; Ángel Domínguez De Pedro handles M&A and real estate financing and is lauded as having an ‘extraordinary understanding of the law’; and Monterrey-based Guillermo González Frankenberger is experienced in M&A, real estate and corporate governance. Of counsel Fernando Medina Luna majors on civil, commercial, corporate and real estate matters, including ejidos, and claims before PROFECO and local authorities. At associate level, Ana Lucía Gutiérrez Fernández is noted for her contributions on land leases, purchases, real estate portfolio transactions and administrative regulatory matters.

Ibarra, del Paso y Gallego’s real estate offering encompasses acquisitions, joint ventures, financings, development, construction, leasing, and the development and operation of hotel facilities (including timeshares), as well as secured financing, the constitution of real estate trusts, and vehicle-structuring for real estate developments. Real estate, tourism and hospitality specialist Carlos Ibarra Fernández co-leads the practice along with Gerardo Gallego, who focuses on multinational and cross-border business and real estate transactions. Of counsel Alejandra Gutiérrez is also noted. Ex-practice co-head Rodrigo de los Ríos left the firm in March 2023.

Described by one client as a ‘solid and reliable team – extremely committed with excellent legal and market knowledge’, the real estate practice at Pérez Correa González is known for its counsel on joint ventures, land acquisitions, project development (for industrial, residential and hospitality projects), financings, and purchase and lease agreements. Domestic and multinational corporations, banks, non-bank financial institutions, investment funds and technology companies regularly feature on its client roster. At the helm of the practice, Luis González handles complex real estate and M&A transactions; González is recommended by one client, who considers him an ‘excellent choice’ for his ‘technical skill and ability to resolve doubts’. Vancouver-based partner Omar Aguilar participates in the structuring and negotiation of joint ventures, as well as designing investment and financial structures for real estate clients. Juan Carlos Izaza is the key associate-level contact, and specialises in corporate, M&A and real estate transactions, as well as the design, drafting and negotiation of commercial agreements. Associate María Fernanda López Lledó left the firm in May 2022; however, associate Eduardo Montenegro joined the firm in September of the same year.

Praised as ‘client-oriented, offering practical solutions’, the team at Sánchez Devanny has significant expertise in real estate transactions, encompassing the acquisition and lease of industrial and retail properties, purchase and construction agreements, litigation, project finance and real estate matters for private equity funds. The practice is co-led by Rafael Villamar-Ramos (managing partner of the firm since July 2023), who is experienced in industrial, commercial and residential real estate acquisition and leasing transactions, and is lauded for his ‘excellent management skills’; and Diego Gómez-Haro, who majors on the structuring of investment vehicles, the leasing, acquisition and sale of real estate, the development and construction of projects, and related due diligence. Senior associate Alfredo Villarreal Hansmann, highlighted for being ‘always willing to go the extra mile’, specialises in lease agreements, acquisitions, and commercial, hospitality and residential projects.

Basham, Ringe y Correa, S.C.’s real estate team majors on land acquisition and sales, project structuring, negotiations, leasing and financing for clients in the commercial, industrial, tourist, and residential sectors. Since the May 2022 retirement of Daniel Del Rio, the practice is led by a trio of partners: Juan Jose Lopez de Silanes, (real estate, tourism and hospitality); Juan Carlos Serra (joint ventures, M&A, reorganisations); and Jesus Colunga (hospitality transactions, franchise matters and joint ventures). Promoted to partner in October 2022, Gerson Vaca is active on corporate and transactional matters in the sector. Former senior associate Ricardo Evangelista moved in house as legal operations counsel at PepsiCo in May 2022.

The six-strong practice at Gonzalez Calvillo garners praise for its client focus and is regularly retained by major international corporations in the food and drink, hospitality and retail sectors (among others), seeking assistance with day-to-day real estate negotiations. The group is also well-equipped to handle the management and operation of real estate portfolios, sale and lease transactions and financing, working on behalf of developers, lenders, investment banks, pension funds and real estate investment funds. Practice head Alfredo Chávez Goyeneche focuses on real estate and project development investment and has experience advising Mexican and multinational companies on all types of corporate transactions involving joint ventures, mergers and acquisitions, strategic alliances, lease agreements, project financing, investments, public bids, and regulatory issues in general. Key support comes from senior associates Joaquín Alcalá Cuéllar and Haydeé Montserrat Gonzalez Tavira, who major on both corporate and real estate matters.

The practice group at Holland & Knight LLP specialises in cross-border real estate transactions, advising on the planning, development, financing and construction of real estate projects. It also offers tax structuring and real estate-related capital markets expertise; handles FIBRA and CKD work; and has solid experience of industrial, commercial, retail, residential and hospitality-related real estate projects and issues. Department co-head Guillermo Uribe handles real estate acquisitions, rights and follow-on offers, debt deals and FIBRA-related matters. Alongside him, Adrián Gay Lasa focuses on the IPOs of REITS, as well as construction, funding and investment vehicles designed to fund the development and acquisition of real estate portfolios. Associate Jorge González Carlini is noted for his active participation in real estate financing and corporate matters, and the team was further consolidated in September 2023 with the hire of Glafira Mercado -as senior counsel- from developer Grupo Delta in September 2023.

Praised as providing an ‘excellent, fast and efficient service’ and based in the Yucatán Peninsula, boutique firm Macari & Gongora assists local and international investors with real estate development and tourism-related transactions, above all those located in Southeastern Mexico. Highlighted by clients for its ‘formidable experience in complex matters and excellent knowledge of the particularities of the market in Southeastern Mexico’, the eight-strong group is directed by Mérida-based Pedro Góngora Urcelay, who specialises in joint ventures, the incorporation of real state trusts, due diligence procedures and the design of complex structures for key real estate projects.

The ‘efficient, proactive and diverse’ team at Sainz Abogados specialises in advising property developers, lenders, investment managers, private equity funds, real estate investment trusts and private owners on a range of real estate matters, namely land lease and purchase agreements, joint ventures, and related due diligence work. Daniel Saltzberg heads up the practice, and has over 20 years’ experience assisting developers and private equity funds with the acquisition, development, financing and sale of real estate; partner Manuel Corona is also noted. Senior associate Ximena Hernández, who majors on real estate financings, trusts, and corporate and securities matters, provides key support.

The practice group at Von Wobeser y Sierra, SC specialises above all in the conversion of ejidos into private property, as well as property acquisition, development, management, leasing, financing and litigation. The 13-strong team is co-directed by Pablo Saez, who has extensive M&A experience and is active on social property and urban development matters; and Alejandro Orellana, who advises domestic and foreign developers, lenders, and investors in connection with real estate-related regulatory issues. Raymundo Soberanis and Ariel Garfio are additional partner-level contacts. The practice was strengthened with the March 2023 hire of Rodrigo de los Ríos, formerly a partner at Ibarra, del Paso y Gallego, as counsel.