Milbank LLP advised the initial purchasers in the Rule 144A/Regulation S offering of $800 million of 7.125% senior notes due 2036 by FIBRA SOMA, a leading Mexican real estate investment trust (FIBRA) focused on premium commercial real estate. FIBRA SOMA owns a high-quality and geographically diversified portfolio of retail, office and mixed-use properties located in the key cities of Mexico, with an aggregate gross leasable area of 836,000 square meters, making it one of the largest commercial real estate portfolios in Mexico.
FIBRA SOMA’s controlling shareholders are Grupo Sordo Madaleno, Mexico’s premier real estate architectural design and development firm, and Ontario Teachers’ Pension Plan.
The Milbank deal team was led by Corporate Finance and Securities partner Carlos Albarracín, special counsel Andres Osornio Ocaranza, associate Ronny Vaisman and international attorney Romina Grebe Ricoy. The team also included Tax partner Andrew Walker and associate Blake Rocks, Executive Compensation and Employee Benefits partner Joel Krasnow advising on ERISA matters and Global Risk & National Security partner Bijan Ganji and associate Melis Ulusel advising on sanctions matters.
