Grupo Estancias Extendidas, S.A. De CV, a low-cost Mexican hotel chain, received a guaranteed syndicated loan from Scotiabank Inverlat, SA, Multiple Banking Institution, Grupo Financiero Scotiabank Inverlat, for MXN 550 million (USD 30.7 million), for the construction of nine hotels.

In this operation, Scotiabank Inverlat, SA, Multiple Banking Institution, Grupo Financiero Scotiabank Inverlat, was advised by Kuri Breña, Sánchez Ugarte and Aznar, SC, while the Mexican hotel group was assisted by Nader, Hayaux & Goebel, SC.

At the end of 2016, the Mexican hotel group, which represents the Extended Suites brand, received a USD 28.4 million capital injection from Northgate Capital and the Alta Growth Capital fund. The investment was aimed at financing the company’s expansion plan for the next five years, which includes more than 40 new properties, according to a review by Inmobiliare.

Founded in 2009, it currently has three facilities, located in Monterrey, Coatzacoalcos and Ciudad del Carmen.

Advisers to Scotiabank Inverlat, S.A., Multiple Banking Institution, Grupo Financiero Scotiabank Inverlat

Kuri Breña, Sánchez Ugarte and Aznar, S.C.

Partner: Alejandro Sobarzo.

Associate: Héctor González.

Advisors of Grupo Estancias Extendidas, S.A. Of C.V .

Nader, Hayaux & Goebel, S.C .

Partner: Eduardo Villanueva Ortiz.

Attorney: Ana Kuri Noriega.