ICM Acquires an Interest in the Cobra Multi-Family Portfolio
(September 17, 2019) Mexico City, Mexico – ICM Asset Management is pleased to announce an investment in the Cobra Mexico Multi-Family Investment Platform. The portfolio will provide ICM access to boutique-sized Mexico City infill development projects.
The initial portfolio will consist of three development properties, delivering 64 units and 5,500 m² in Mexico City’s most family-friendly neighbourhoods, with strong retail and multiple transportation options. The first of the projects is expected to be delivered to market in Q3 2020, and it is anticipated that the properties will be fully sold by Q1 2022.
“We are very excited to be expanding on our multi-family platform in Mexico with such a successful and storied partner,” said Scott Myers ICM’s Managing Director. “Cobra has a long track record of delivering the right product to the right neighbourhoods on time and on budget.”
ICM’s partner and the developer is Cobra Development Fund, a Mexican real estate development company. Cobra is a fully-integrated developer with a 16-year history and 350 employees, they focus on the development of small to medium projects (4 to 100 units) in Mexico City and its metropolitan area catering to the growing middle class. Since its inception, Cobra has built and sold over 1,000 units in Mexico City.
