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Zell-led Firm Invests in Mexican Retail Developer


Equity International, the Sam Zell-led private equity firm, announced Tuesday it bought a stake in the Mexican retail developer Grupo Acosta Verde. Acosta Verde, HQ'd in Monterrey, has developed 35 retail properties and manages 26 Mexican shopping centers, 11 of which it owns. The company's portfolio totals 1.7M SF across 15 states, include the recognizable Sendero shopping center brand, anchored by the Mexican retailer Soriana, and the movie theater chain Cinépolis. EI was an early investor in Mexican retail, according to CEO Tom Heneghan. Acosta Verde's concept is "proven" and "scalable," he said in a statement. BlackRock and Altan Capital are joining EI in a consortium investing in the company. [EI