Related, sbe Roll Up Sleeves in Mexico
- Dec 09, 2016
by Veronica Grecu
Mexico—In an attempt to replicate the success of Icon Vallarta—a $200 million condo project that was completed in 2010—The Related Group has teamed up with Los Angeles-based hospitality company sbe to develop two new mixed-use properties in Mexico.
Located in the states of Guerrero and Quintana Roo, the two projects will be operated by SLS and will feature designs by Italian architect Piero Lissoni, who has a long history working with The Related Group on several condo hotel properties in South Florida, Argentina and Mexico.
“The potential in Mexico is tremendous,” said Jorge Pérez, chairman & founder of The Related Group, in prepared remarks. “Continued trade with its northern neighbors and record-breaking tourism has led to robust growth in the Mexican economy which has in turn empowered the middle class and made it a more desirable destination for American buyers. Mexico is a country on the cusp of a major boom and Related will be ready when it begins.”
SLS Zihuatanejo will be developed along the Pacific shoreline and will offer 62 single-family lofts and a 40-key boutique hotel that will be managed by sbe. According to the development team, sales for SLS Zihuatanejo’s first phase began in September 2016.
The second project, SLS Cancún, will be developed in partnership with Mexican developers Inmobilia and U-Calli in the heart of Puerto Cancún, an exclusive community offering premium amenities. Phase I of the project will include 120 condos and 67 hotel rooms managed by sbe. Sales for this phase began in December.
The two projects were announced less than two months after sbe and The Related Group opened the 55-story SLS Brickell Hotel & Residences in Miami. Designed by Arquitectonica, this is sbe’s second SLS-branded hotel in Miami and the first condo hotel developed in a 50-50 joint venture with The Related Group.