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MIAMI-Locally based Related International, a newly formed subsidiary of the Related Group, has named Roberto Rocha president and Carlos Rosso vice president. The two men, Latin American natives, will play key roles in the company’s plans to invest more than $1 billion in Mexican real estate over the next two years.

Born in Nicaragua, Rocha has been with the Related Group for more than 24 years. Prior to being appointed president, he served as senior executive vice president and director of development. As head of development, he directed rental and condominium development, new construction, project financing, land acquisition and disposition. He has also been an integral part of the sales, lease-up and asset management function in the firm’s properties. Throughout his career, he has developed more than 80 projects with more than 23,000 units.

Rosso joined the Related Group in early 2002. Prior to his appointment as vice president, Rosso was responsible for development of projects, including 500 Brickell, Marina Village at Boynton Beach, the Residences at Merrick Park in Coral Gables and St. Andrews at Kings Point in Tamarac. He will work with Rocha in developing projects, such as the $250-million ICON Vallarta, a 343-unit condominium project on five acres in Downtown Vallarta. Architects on the project are Yoo by Philippe Starck and Arquitectonica. Construction on the project will begin in mid-2007 with prices for the units ranging from $200,000 to $1 million. Rosso tells GlobeSt.com that the design of the project has been completed and sales will begin next month.

Related Group revealed plans for the new subsidiary in February. The new group also plans to develop condominiums and hotels in other tourist locations in Mexico, including Acapulco, Cabo San Lucas, Playa del Carmen and Zihuatanejo. Rosso adds that the company has plans to develop projects in Argentina, Uruguay, Panama, Columbia and is considering two projects in Costa Rica.

“There is a lot of value in Mexican real estate because it’s close to large US cities such as California and Arizona,” he says. “Provisions are in place to complete projects. We are able to get construction loans and provide financing for end users. It’s a mature market but there’s still value.”

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