MRP Closes Real Estate CCD

Mexico Retail Properties (MRP), a unit of US-based private equity manager Black Creek, has sold MXP5bn ($390m) in certificados de capital de desarrollo (CCD) in Mexico’s domestic market, according to regulatory documents. The 2027 certificates offer investors participation in a fund investing in commercial and service-related real estate assets throughout the country. The return structure is similar to other CCDs, with investors receiving their original amount plus a preferred return, with remaining proceeds divided 80% to investors and 20% to managers. Banamex and BBVA Bancomer managed the transaction. MRP’s sister unit I Cuadrada closed a MXP2.74bn social infrastructure-focused CCD in December, in which MRP co-invested 10%.