1. Deal description
GLL and Seguros de Vida SURA S.A. (“SURA”) and jointly acquired from Compañía de Seguros Confuturo S.A. ("Confuturo") and Corpseguros Insurance Companies, Nueva Las Condes 7 Building, a Class A office building located in Nueva Las Condes sector, one of the most relevant business districts of Santiago. Nueva Las Condes 7 Building is a 20 stores building subject to a long term lease agreement with Banco ITAU as tenant.
Guerrero Olivos assisted GLL in the financing, structuring and negotiation of the acquisition of Nueva Las Condes 7 building and the assignment of the lease agreement. The acquisition was financed by Banco Estado.
It is important to note that Guerrero Olivos has assisted German real estate developer GLL in all its investments in Chile such as the acquisition of Territoria El Bosque and Tower B in Parque Titanium, both A Class buildings located in the most important business districts in Santiago.
2. Counsel lists
Counsel to GLL: Guerrero Olivos. Partner: Martín Santa María, msantamaria@guerrero.cl. Senior counsel: Miguel Coddou, mcoddou@guerrero.cl. Senior associate: Josefina Yávar, jyavar@guerrero.cl. Associates: Tomás Rosemary, trosemary@guerrero.cl; Macarena Montt, mmontt@guerrero.cl; Rosario Becker rbecker@guerrero.cl; and Matías Dittborn, mdittborn@guerrero.cl
Counsel to Compañía de Seguros Confuturo S.A. (“Confuturo”): Fontaine y Cía. Partner: Montserrat Valverde mvalverde@fontaineycia.cl and associate Beatriz Silva bsilva@fontaineycia.cl. In-house counsel: Ximena Kaftansky and Rafael Rillón.
Counsel to SURA: Boza & Muirhead. Partners: Max Boza mboza@bozaycia.cl and Cristián Muirhead cmuirhead@bozaycia.cl. In-House Counsel to Banco Estado: Urbano Marín.
3. Date of closing
4/8/2017. Registration with the Real Estate Registrar in process.
4. Deal value
US$127 million
5. Jurisdictions involved
Chile