Bancomer selects BPT for advisory services

Real Estate Weekly, August 11, 1993

Bancomer S.A., one of Mexico's largest full-service financial institutions, announced it has signed an agreement with BPT Properties, a Washington, D.C.-based international real estate development, construction management and advisory firm, to serve as real estate advisor for expansion of the bank's facilities throughout Mexico. BPT is a joint venture of San Francisco-based Bechtel Investments Realty, Inc., and the Park Tower Group of New York.

The long-range program calls for BPT to assist the bank in analyzing of new development and renovation plans needed to meet the institution's expected growth needs over the next several years. Initially, BPT will advise Bancomer in the potential expansion of branch banking facilities in Mexico, construction of regional headquarters office locations, the renovation of Bancomer's existing 1.4 million-square-foot national headquarters in Mexico City, with possible construction of an adjacent office tower. Terms of the agreement were undisclosed.

Among the other projects BPT is currently developing world-wide is the 918,000 square-foot Foley Square U.S. Courthouse in New York City. Upon completion in 1994, it will become the largest Federal courts building in the United States.