Rimon partner Juan Zúñiga Speaks on Resort Development in Mexico at Urban Land Institute

(San Diego) Novermber 6, 2013 – Rimon, P.C. international transaction attorney Juan E. Zúñiga is served on an Urban Land Institute panel on the resurgence in tourism and resort development in Mexico.

The panel, titled “Mexico Resurgence in Tourism and Resort Development,” focussed on two major national policy changes by the government that (a) opened the door for pensions funds to invest in real estate and (b) now allow non-mexicans to own coastal property are major factors in the resurgence. The panel discussion took place on November 6^th.

Mr. Zúñiga, based in Rimon’s San Diego office, has represented developers and investors in numerous resort transactions in Mexico, including:

·       Acquisition of undeveloped property in Bahia de Banderas, Nayarit, Mexico including establishment of 2 stage fideicomiso, negotiation of long-term water rights, development agreements and tax advice;

·       General Counsel for the hotel and residential community at El Banco, Nayarit, Mexico;

·       Development and ongoing representation of Estrella del Mar Golf and Beach Resort which is made up of 800 acres in Mazatlan, Sinaloa, Mexico with hotel, golf-course, residential and commercial components;

·       Buyer of luxury hotel and convention center in Los Cabos, Baja California Sur, Mexico for $115 million;

·       Acquisition of hotel and timeshare resort in Loreto Bay, Baja California Sur, Mexico from FONATUR and negotiation with developer partner in joint venture.