RE/MAX offices now in 27 countries on six continents The RE/MAX real estate franchise is opening an office this month on Margarita Island in Venezuela.
Juan and Ivonne Barrichina are converting their independent office into RE/MAX Isla Margarita and expect to open another office in February in Caracas, Venezuela's capital. RE/MAX now has offices in 27 countries, including South Africa.
Margarita Island's population is 250,000, and rises to more than 1 million people during the height of tourism season. The properties there range from small condominium units for $50,000 to mansions exceeding $1 million.
Korean fund to be co-managed by Scudder Kemper Investments Scudder Kemper Investments Inc., New York, has won mandate from the Korea Development Bank to co-manage a corporate restructuring fund to provide financing to Korea's small- and medium-sized businesses.
The fund has assets of $1.3 billion, and Scudder Kemper Investments will invest $250 million in equity and fixed-income securities.
The Corporate Restructuring Fund, a closed-end fund that may be offered publicly to Korean investors, could be listed on both Korean and overseas stock exchanges in the future.
Nelson Bakewell-Oncor International opens in London Oncor International has expanded with the addition of Nelson Bakewell-Oncor International in London.
The new firm offers office, industrial, retail, investment sales, property management, consulting, appraisal and corporate advisory services throughout the United Kingdom.
Nelson Bakewell Chairman Phillip Nelson said it is beneficial for the firm to have effective links with comparable organizations on an international basis because of the development in real estate markets on a global basis.
Partnership to allow growth of office tenants in Mexico TriNet Corporate Realty Trust Inc., San Francisco, and G. Accion S.A. de C.V. in Mexico have formed an international strategic partnership in which TriNet will invest $2 million in securities issued by G. Accion.
The investments will include office and industrial real estate in Mexico leased long-term to well-recognized multinational and U.S. corporations.
While the United States will remain TriNet's core market, the partnership allows the company to compete for domestic business and increase its tenants across the border.
Brazil is home to large commercial office development Brazil Realty is building Faria Lima Financial Center, the largest commercial office building in Sao Paulo, Brazil, on a $35 million site of 7,080 square meters.
Citibank is an equity partner with a 10% stake in the $85 million project, which is located in Sao Paulo's financial district. It is the company's first equity investment in Brazil.
Construction of the project will begin during 1999's first quarter and will take 24 to 30 months to complete. The center will feature 21 office floors on two sections, four basements and 850 parking spaces.
Brazil Realty is constructing the JK Financial Center and Sao Paulo Plaza, two other office buildings in the city, which will be completed March 2000.
Atlanta company develops first Mexico project Atlanta-based Industrial Developments International completed construction on a 205,203 sq. ft. distribution facility in Mexico.
The facility, which is the company's first project in Mexico, can be used as a single- or multi-tenant building with a minimum lease of 40,000 sq. ft.
The building is in Juarez and is near the International Airport and the United States border.