Ellipse Group started in early 2011 the 52-story skyscraper R432 in Mexico City
Writer Real eStrategy 2 Commercial RE News, And Corporate Offices October 22, 2010 After a virtual fast a couple of years it seems that the big real estate projects in the corridor Reforma in Mexico City begin to recover. A case of which we spoke a week is R432, a 52-story skyscraper. Be almost in front of Diana the Huntress, Sevilla corner Reforma 432, and is driven by the Ellipse Group, James Czukerberg. This is a developer with over 35 years experience and works in Santa Fe and Constituents, among other areas.
Ellipse recently served as one SAPI, has the backing of the CNBV, Guillermo Babatz and is audited by Deloitte, which has Ernesto Gonzalez. Will have 20% stake in the owner of the building to be built in an area of one thousand 800 meters. This area has been acquired in the last 18 months and spent only around 120 million pesos. The tower will mean an investment of close to one hundred million dollars and its 52 floors will have basically four different uses. The first three levels will house three thousand square meters of commercial premises, the following seven thousand seven stories focus 500 meters of office space, 28 levels will be to develop 211 luxury apartments and ten floors to a hotel.
The model will be based on the sale of the departments, representing a total area of 22 thousand square meters. Ellipse estimates obtained by this concept about a thousand 300 million pesos, of which 50% would help fund the construction. Those close to 650 million pesos will be used to build in the next 48 months. The sale will run on behalf of House & Business Group, Isaiah Ramirez, an expert in marketing real estate in the corridor. In addition to participating as partners Czukerberg Mexihom, Ignacio Leal with 15%, José Luis Sarabia, owner of the company commissary Skychef with 15%, the French group Buddha-bar with another 10% and sprayed the rest with investors.
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