RE Group Aims for Hotel Fibra

Mexico’s Grupo GDI is preparing a Fibra transaction that will create a fund holding hotel assets, according to regulatory documents. There were no size or timing details immediately available for the RIET-like transaction. The fund would include 30 operating Mexican hotels and four in development, including the Fiesta Inn, One and Camino Real brands. Proceeds would be used for acquiring and developing additional properties. BBVA and JPMorgan are global coordinators, with Evercore and Banorte-Ixe joining on the local portion. GDI specializes in hotels, malls and residential property development.