Posadas and LaSalle Team Up for Hotels

Real estate player LaSalle Investment Management has signed a pact with Mexico’s Grupo Posadas to invest $60m in the development of eight of Posadas’ Fiesta Inn and One hotels. Under the terms of the agreement, Posadas will build and operate the hotels. In July, Grupo Posadas placed MXP750m in 2013 to yield TIIE+190bp. The issue was a retap of a MXP1.5bn deal sold in April to help fund the repurchase of dollar bonds.