Thank you for sharing!

Your article was successfully shared with the contacts you provided.

MEXICO CITY-What started as a partnership on a $500-million resort development has blossomed into a $3-billion multi-project plan for Washington, DC-based Federal Development and Grupo del Blanco, a construction company based here. The two companies have formed Federal Development Mexico, which will serve as the master developer on various real estate development opportunities in the country.

John Infantino, CEO of Federal, tells GlobeSt.com that the venture started with the planning for the five-phase, $500-million golf and resort community in Real del Monte, just north of Mexico City. The project will consist of 1,464 single-story houses and 144 condos amidst a Troon Golf-managed course, as well as a 1,000-foot-long, 120-foot-wide ski slope and lift, two hotels and a full-service spa. “While we were doing our due diligence, we decided there really is additional opportunity in and around Mexico City, which has 23 million people, it really is a vibrant city,” Infantino says.

He says the resort’s first phase will be complete by early 2009. “Then we’re really going to get aggressive, and pursue other projects. By the time we’re done with the initial five years, I think this will be a $3-billion opportunity for both companies,” Infantino says.

Mexico’s market benefits from a baby boomer trend, and not much impact from the mortgage problems of other countries, he says. “There’s been some optimism, but it’s slowed, which is good because then it’s not a bubble like it is in other markets. There’s a relatively low crime rate in certain areas, and the market has many diverse areas, with beaches, cities and mountains. Also, we’re already on the border with projects in Corpus Christi and El Paso, TX, so it was just natural for us to step across the border,” Infantino says.

Want to continue reading?
Become a Free ALM Digital Reader.

Once you are an ALM digital member, you’ll receive:

  • Unlimited access to GlobeSt and other free ALM publications
  • Access to 15 years of GlobeSt archives
  • Your choice of GlobeSt digital newsletters and over 70 others from popular sister publications
  • 1 free article* every 30 days across the ALM subscription network
  • Exclusive discounts on ALM events and publications

*May exclude premium content
Already have an account?


Join 1000+ of the industry's top owners, investors, developers, brokers & financiers at THE MULTIFAMILY EVENT OF THE YEAR!

Get More Information


Join GlobeSt

Don't miss crucial news and insights you need to make informed commercial real estate decisions. Join GlobeSt.com now!

  • Free unlimited access to GlobeSt.com's trusted and independent team of experts who provide commercial real estate owners, investors, developers, brokers and finance professionals with comprehensive coverage, analysis and best practices necessary to innovate and build business.
  • Exclusive discounts on ALM and GlobeSt events.
  • Access to other award-winning ALM websites including ThinkAdvisor.com and Law.com.

Already have an account? Sign In Now
Join GlobeSt

Copyright © 2021 ALM Media Properties, LLC. All Rights Reserved.