Project Overview
Demonstrating New Harbor’s ability to facilitate complex institutional exits, Aakash is a 42,000 sqm mixed-use tower in Villahermosa. CDMX II provided a $9M senior construction loan to bridge the development through its critical delivery phases. Following the successful presale of the retail component in 2023, the office tower was acquired by Pemex, the Mexican national oil company, in February 2024. The facility was fully repaid in 2024, delivering an 18% IRR to CDMX II and a 28% IRR for the developer, showcasing a successful partnership with national-level institutional tenants.
Asset Class
Mixed-Use Office and Retail Tower
Capital Deployed
$9M USD Senior Construction Debt
Security Structure
First Position Senior Construction Loan
Location
Villahermosa, Mexico
Project Scope
18% IRR returned to CDMX II; 28% IRR for developer | Ground floor retail presold (2023); Tower sold to Pemex (2024)
Status
Fully Realized (Repaid in 2024)
