September 27, 2018 (Mexico City, MX) – ICM is pleased to announce the acquisition of a condominium development project in the Escandon neighbourhood of Mexico City (“Escandon”). The project entails the construction of a prominent 12-story, 80-unit concrete building designed by the award-winning architecture firm, MMX. The acquisition was completed on September 27, 2018.
Escandon is a neighbourhood highly sought after by families, professionals and young couples for its walkability, access to amenities, transportation, and public parks. The property is located only 125 metres from the nearest underground Metro station, the 2nd most used metro system in North America. In recent years, Escandon’s neighborhood has experienced a strong improvement cycle but remains relatively affordable compared to directly contiguous neighbourhoods. ICM believes this redevelopment project will provide an attractive opportunity to own in a well located, hip, urban area.
ICM is excited to be working with incredibly strong local partners:
Revitas is a real estate development company specializing in the central neighbourhoods of Mexico City. They distinguish their ability to conceptualize and execute innovative projects that capitalize on the current trends of hyper-densification, hyper-segmentation, shared economies and urban lifestyles present in the most competitive cities in the world.
MMX is a Canada / Mexico based architectural firm specializing in vertical housing, single-family homes, and urban design. It was founded in 2009, and has received numerous awards and recognition for its work by several international institutions.
Founded in 2003, ICM Group is a fully integrated real estate investment firm that focuses on the US and Canadian commercial real estate markets. From its offices in Calgary, Atlanta, San Francisco, Minneapolis and Munich, ICM’s core objective is to provide institutional and high net worth clients with customized services in the areas of property management, asset/portfolio management, and transaction advisory services. ICM has a proven track record with all investment-property types and has extensive experience in structuring and managing cross-border investment vehicles including real estate investments, private placements, and real estate syndications.