Skip Ribbon Commands
Skip to main content


Monterrey, Mexico

Jones Lang LaSalle Completes $43.1 Million Land Sale for Lamosa

Grupo Lamosa and the Mira Companies purchase land site in Monterrey in record-setting transaction

MONTERREY, MEXICO, Dec. 21, 2010 — Jones Lang LaSalle today announced the firm’s capital markets experts in Mexico have successfully executed the sale of a prime land site in metropolitan Monterrey, Mexico. Jones Lang LaSalle completed the transaction on behalf of Lamosa SAB de CV, a Monterrey-based, publicly traded company and largest tile, flooring, adhesives and sanitary ware manufacturer in Mexico. The landmark property site was purchased from Grupo Lamosa by the Mira Companies for $43.1 million.

Jones Lang LaSalle’s Capital Markets experts lead by Javier Llaca represented Lamosa on the disposition of this landmark property site.

“We’re pleased to have achieved Lamosa’s goals to raise capital efficiently through the sale of this land asset,” said Javier Llaca, executive vice president of Jones Lang LaSalle. “We began this transaction almost two years ago with an intensive portfolio analysis and an appraisal and disposition strategy that would allow Lamosa to maximize the value of its real estate holdings.”

”While this was a complex transaction that included securing zoning approvals, environmental remediation, federal river easements, and investment commitments from Lamosa and the city for new roads and under-pass infrastructure, it was all worth it as this will allow for future development and a successful outcome for all parties involved in the transaction”, added Llaca.

Lamosa executives concur with the success of the transaction. “This transaction will positively impact the profitability of Lamosa,” informed the company through a press release. “This transaction allows the firm to maximize the value of its real estate assets to obtain resources that will mainly be assigned to reduce Lamosa´s debt leverage and to strengthen its financial structure.”

The land site Lamosa sold is where the company’s first tile factory started operations in the early 1900s. The brownfield land comprises a total of 16.8 hectares (41.5 acres) of land available for high-density, mixed-use development. 

The site’s purchase by Mira Companies completes one of the largest institutional acquisitions in Monterrey, and the first one since the crisis hit the real estate market in October of 2008.  The Mira Companies is a real estate private equity fund sponsored by the Black Creek Group that is focused on residential real estate development projects throughout Mexico. The Fund’s limited partners are mainly GIC (Singapore Government) and PSP Investments (Canada’s Public Sector Pension Investment Board).

Grupo Lamosa, S.A. de C.V. and its subsidiaries engage in the manufacture and sale of ceramic products, bathroom fixtures, and adhesives for the residential, institutional, and commercial markets in Mexico and internationally. Its products primarily include ceramic wall and floor tiles, and skirting tiles; decorative covering materials; and other products related to the ceramic and construction industries. The company’s bathroom fixtures include various sanitary ware products, such as washbasins, bidets, bowls, urinals, and drinking fountains. Its adhesives are primarily used for installing wall and floor tiles. The company also engages in residential and commercial real estate projects, such as housing and commercial developments, and parks in the metropolitan area of Monterrey located in the state of Nuevo Leon, Mexico. Grupo Lamosa was founded in 1929 and is based in Monterrey, Mexico

Jones Lang LaSalle has been operating in Mexico from more than 26 years as the only wholly owned subsidiary. In Mexico, the firm provides full service operations for national and international companies. Jones Lang LaSalle has a presence in more than 30 Mexico cities with a history of completed transaction in every key market. The firm’s main Mexico offices are in Mexico City and Monterrey. For more information about Jones Lang LaSalle Mexico, visit:

About Jones Lang LaSalle

Jones Lang LaSalle (NYSE:JLL) is a financial and professional services firm specializing in real estate. The firm offers integrated services delivered by expert teams worldwide to clients seeking increased value by owning, occupying or investing in real estate. With 2009 global revenue of $2.5 billion, Jones Lang LaSalle serves clients in 60 countries from 750 locations worldwide, including 180 corporate offices.  The firm is an industry leader in property and corporate facility management services, with a portfolio of approximately 1.6 billion square feet worldwide. LaSalle Investment Management, the company’s investment management business, is one of the world’s largest and most diverse in real estate with approximately $40 billion of assets under management. For further information, please visit our Web site,