Irvine, Calif.-based Johnson Capital International is expanding its Mexican advisory group to target distressed coastal properties. "The bottom line is that operators, developers and managers of tourist assets and projects in Mexico are feeling real pain," said Ron Lafever, managing director.
Johnson is pitching its services to banks, limited partnerships and Mexican business trusts. It launched a similar venture in Spain last year, joining forces with Madrid-based advisory MaC Group. In both countries, Johnson is seeing distress on land, condo and hotel properties, which have been hit particularly hard by the slowdown in travel. Johnson has formed a partnership with Snell Real Estate, a Mexican luxury residential brokerage firm, and Dallas-based consulting firm Trevi Luxury Hospitality Group to source opportunities. The trio will also provide workout, asset management and valuation services to troubled properties in Los Cabos, Puerto Vallarta, Cancun and the Mayan Riviera, Lafever said.
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