Los Portales’ $40 Million Loan

Miranda & Amado and DLA Piper advised on the transaction

Los Portales secured a $40 Million Loan from IDB Invest

The project involves a Senior Loan for US$40 million with a ten-year term intended to finance part of the plan to purchase new land for Los Portales to be used in urban development and social housing projects in eight Peruvian cities.

It is estimated that 19 projects will be developed in eight cities in Peru, which will benefit from access to first-time buyer housing for about 12,000 families in the socioeconomic sectors B-, C, and D.

Los Portales, began operations in 1996 with three business lines: housing, parking and hotels. The company is dedicated to all kinds of investment and development businesses and urban real estate development and empowerment and the provision of tourism services, hotels and lodging.

Miranda & Amado advised Los Portales S.A. with a team including Juan Luis Avendaño Cisneros (Picture) and Lisbeth Benavides Kolind Hansen.

DLA Piper advised IDB Invest with Sergio Barboza Beraún and Juan Carlos Ramírez Malatesta.

Involved fees earner: Sergio Barboza – DLA Piper – Pizarro, Botto & Escobar; Juan Carlos Ramírez Malatesta – DLA Piper – Pizarro, Botto & Escobar; Juan Luis Avendaño – Miranda & Amado Abogados; Lisbeth Benavides – Miranda & Amado Abogados;

Law Firms: DLA Piper – Pizarro, Botto & Escobar; Miranda & Amado Abogados;

Clients: IDB Invest; Los Portales S.A.;

Author: Ambrogio Visconti.