Grupo Cibest -formerly Grupo Bancolombia-, a financial holding company that brings together Banco Agromercantil de Guatemala and Bancoagrícola in El Salvador, acted as Structuring Bank (MLA) and main Bookrunner in a corporate financing for US$216 million for Mobiliare Real Estate Solutions, one of the most important private real estate funds in Latin America. This transaction aims to refinance financial liabilities, develop new real estate projects and free up resources for future strategic investments, thus promoting Mobiliare's sustained growth in the region.
Thanks to the participation of its subsidiaries Banco Agromercantil and Bancoagrícola, Grupo Cibest contributed US$148 million, equivalent to 68.5% of the total financing.
In addition, the transaction also included participation from Banco Davivienda in Costa Rica, Banco de América Central in Guatemala and El Salvador, and Banco Internacional de Costa Rica.
The structure of this financing represents a milestone in the Central American real estate sector, as it is the first time that the traditional financing model of individual assets is replaced by a portfolio financing solution that incorporates elements of corporate financing and project financing (Project Finance). This gives Mobiliare Real Estate Solutions the necessary flexibility to incorporate future projects and multiple assets distributed in several countries within the same financial scheme.
"This operation marks a turning point in the way the real estate sector is financed in the region. Not only do we accompany the growth of a key player such as Mobiliare Real Estate Solutions, but we demonstrate that at Grupo Cibest we have the ability to structure innovative, robust financial solutions tailored to our most demanding clients. This model, in addition to being pioneering, is replicable and scalable, and opens the way for a new generation of operations that promote regional development with a more integrated and strategic vision," he stated. Mauricio Rosillo, Vice President of Business at Grupo Cibest.
Mobiliare Real Estate Solutions, founded in 2020, is one of the most relevant private real estate funds in Latin America. With a presence in 9 countries in the region (Peru, Guatemala, El Salvador, Costa Rica, Mexico, Colombia, Ecuador, Honduras and Nicaragua), it manages a portfolio of stabilized assets that total more than 1.5 million square meters of gross leasable area, including nearshore service buildings, production plants, distribution centers and Big Box Retail.
Mobiliare Real Estate Solutions specializes in providing large-scale real estate solutions and has established itself as a one-stop solution for multinationals and multilatinas, thanks to its regional expansion model based on trust, security and excellence in execution. Its built-to-suit approach ensures projects tailored to the specific needs of each client within its AAA portfolio.
In line with its commitment to responsible development, more than 58 properties in its portfolio have obtained international environmental certifications, such as EDGE, LEED® and Fitwel®, to date. The EDGE and LEED® standards promote sustainable construction practices and energy efficiency, contributing to the reduction of the environmental impact of buildings. For its part, Fitwel® offers design and operation guidelines aimed at the well-being of those who occupy the properties.
As a result of these efforts, the International Finance Corporation (IFC), the private arm of the World Bank Group, recognized Mobiliare as EDGE Champion in March 2025 for its track record and commitment to ensuring that all future projects have this sustainable certification.
"This financing not only represents a key injection of resources to continue growing in countries in the region such as Guatemala, El Salvador and Costa Rica, but also a vote of confidence in our business model and our regional vision. The structure designed by Grupo Cibest allows us to operate with greater agility and aligned with our commitment to sustainable development, long-term growth and regional integration, accompanied by local and regional banks that have trusted our business project from the beginning," said Guillermo Montano, CEO and founder of Mobiliare Real Estate Solutions.
This operation required a detailed structuring, in which assets from multiple countries and companies were united in a single financial model. Thanks to this, it was possible to reflect the real functioning of the fund as an integrated business group, which facilitated both the analysis of the credit and its implementation. Given the participation of debtors, creditors, assets and guarantees in different jurisdictions, it was necessary to integrate regulatory frameworks to align the interests of all parties and reduce legal risks, which will be a reference for future operations.
In addition, conditions were included that allow new development projects to be incorporated in the future under the same scheme, resulting in a flexible model that unites the best of corporate financing with the specific needs of the real estate sector. Thus, Bancolombia achieved an efficient, scalable and ready solution to accompany Mobiliare in its growth in the region.