CIM has acquired a six-property, 2,125-unit multifamily portfolio located in Monterrey and Mexico City, Mexico, for $230 million. The portfolio also contains approximately 150,695 sqf of Class A office space along with 355,209 sqf of retail space. The sale represents the largest multifamily portfolio in Latin America on record. Tim Gifford of CBRE Capital Advisors advised on the transaction on behalf of the seller, a global private equity fund. “This was an incredible transaction for both the buyer and seller, and gives CIM premiere apartment assets in highly sought after communities throughout Mexico,” said Gifford. “We have seen a significant pick up in interest from global capital sources looking to allocate capital into the multifamily asset class in Latin America.
