March 16 – 24, 2019

Chazen

Mexico*

Real Estate Study Tour

*NOTE: The Real Estate Study Tour is no longer going to Panama

Organizers

AprilChye

Federica Burelli

Chris Grube

JasonYun

ValentinaPardo

Why Mexico now?• The nominal GDP of Mexico is $1.177 trillion, making it the

14th richest country in the world– Mexico has trade agreements with 40 countries, including the United

States and many countries in the EU

• Mexico’s fledgling market for real-estate investment trusts has come a long way since Fibra Uno launched the first Mexican REIT (also the first Latin American REIT) in 2011

• Large foreign direct investment, coupled with population growth and the broadening of the service sector, is fueling a growing commercial real estate market in Mexico City

Mexico City

What else is special?• Mexico City is built on a lake called

Texcoco– The city is constantly sinking and

has sunk more than nine meters in some areas over the last 100 years

• Mexico City is the largest Spanish-speaking city in the world; it is the richest city in Latin America

• Mexico City is a street food paradise– With a pedigree dating back to

pre-Hispanic times – the Spaniards were reportedly amazed when they arrived to find ready-to-eat food they called antojitos (“little cravings”) for sale on the streets and in the markets

Company Visits (Tentative)

Panama Canal

Castillo de Chapultepec

Museo Soumaya

Teotihuacan

Museo de Antropologia Museo Soumaya

Zocalo

Casa AzulCastillo de Chapultepec

Panama Canal

Castillo de Chapultepec

Teotihuacan Zocalo

Casa AzulCastillo de Chapultepec

Panama Canal

Castillo de Chapultepec

Teotihuacan Zocalo

Castillo de Chapultepec

Tentative Trip #1: Holbox Island

• remote, car-less, laid-back island off of Yucatan Peninsula

• pristine beaches and azure waters

• delicious seafood• explore marine life• street art

Panama Canal

Castillo de Chapultepec

Teotihuacan Zocalo

Castillo de Chapultepec

Tentative Trip #2: Oaxaca

• colonial old town renowned for its food

• tour and taste mezcal at artisanal production facilities

• expedition to natural rock formations “Hierve el Agua”

Panama Canal

Castillo de Chapultepec

Teotihuacan Zocalo

Castillo de Chapultepec

Tentative Trip #3: Cabo San Lucas

• Resort city at the southern tip of the Baja California Peninsula

• Known for its beaches, scuba diving locations, balnearios, the sea arch El Arco de Cabo San Lucas, and marine life

Itinerary (Tentative)

Dates: March 16 – 24, 2019

Number of students: 36 student participants (including 5 student organizers)

Faculty Advisor: Leanne LachmanTentative

Idea #2: Oaxaca

Mexico City

Tentative Idea #1: HolboxIsland

Tentative Idea #3:

Cabo San Lucas

Itinerary (Tentative)Saturday 3/16 Sunday 3/17 Monday 3/18 Tuesday 3/19 Wednesday 3/20 Thursday 3/21 Friday 3/22 Saturday 3/23 Sunday 3/24

9:00 AM

9:30 AM

10:00 AM Travel Time

10:30 AM Travel Time Travel Time

11:00 AM

11:30 AM

12:00 PM

12:30 PM Travel Time

1:00 PM Travel Time Travel Time

1:30 PM

2:00 PM

2:30 PM

3:00 PM

3:30 PM

4:00 PM Travel Time

4:30 PM

5:00 PM

5:30 PM

6:00 PM

6:30 PM

7:00 PM

7:30 PM

8:00 PM

8:30 PM

9:00 PM

9:30 PM

10:00 PM

10:30 PM

11:00 PM

Company Visit Site Tour Meal Travel TimeSocial Activity

(Optional)Cultural Activity

Alumni/Sponsor

Drinks

San Jose del

Cabo

Travel Time

Flight back to

New York

Travel to Airport

Visit to

Teotihuacan

Pyramids &

Museum

Lunch

Dinner at Hotel

Last night Social

LBR - Tour of

Torre Bancomer

Travel Time

Bull Café & Bar

Hipodromo de las

Americas &

Royal Yak Casino

Travel Time

Gfa Grupo

Immobiliarion

Dinner

Travel TimeDinner

JLL Mexico -

Market Overview

Lunch

LBR - Tour of

Torre Bancomer

Travel Time /

Hotel Stop

Dinner at "El

Cardenal"

Prologis

Thor Urbana

Capital

Travel Time

Lunch

Lunch

Reichman

International

AIG Global Real

Estate

Banamex / Citi

Real Estate

Banking

Travel Time

Brekfast

Basilica de

Guadelupe &

Tlatelolco Tour

Diemetro

Architectos

Travel Time

SEDUVI (Dev. &

Housing)

Travel Time

Dinner at "El

Lago" Restaurant

Mama Rumba

Salsa Club

Iñaki Echeverria

Travel Time

Hines

Lunch at

"Fishers"

Restaurant

PREI

Dinner at Hotel

Hotel Bar

Potential

Hospitality

Company Visit

Welcome Dinner

Local Nightlife

International Flight

NYC - Cabo/Cancun (for

Holbox)/Oaxaca

Dinner at Hotel

Rooftop Bar

Travel Time

Lunch

Travel Time

Domestic Flight

Cabo/Cancun/Oax

aca - Mexico City

Travel Time

Travel Time

Check into Hotel

Whale Watching/Island

Hopping

Lunch

Travel Time

Mezcaleria Tour

Travel Time

Budget• Per person: $1,800 - $2,000• Includes the following:

– Ground Transportation within Mexico– Airfare within Mexico – Admissions and tour guides for cultural site visits included in the

itinerary– Most meals– 4-5* hotel accommodation (double occupancy)– Gratuity for tour guides & drivers

• Does not include the following:– Roundtrip airfare from NYC – Cabo/Holbox/Oaxaca and Mexico City –

NYC (approx. $350-600)– Personal purchases and optional activities– Travel vaccinations– Visas (as necessary)

Chazen Logistics• Only full-time MBA students can attend (no significant others)

– Students with holds on their accounts will not be able to participate – Students must attend the entire tour and all company visits are mandatory– Students must have valid travel medical insurance– Please do not attempt to shadow this trip– Sign up is through a Dutch auction bidding process: chazentours.gsb.columbia.edu

• Participants must be a member of the Real Estate Association by the start of the trip

• Study tour Bidding Dates:– Bidding Start: Thursday, November 8 – Tuesday, November 13, 4pm– Bidding Result: posted Wednesday, November 14– All successful bidders will receive an email to pay a $500 non-refundable deposit

within 48 hours– Unsuccessful bidders will be placed on a waitlist (based on bid amount-highest to

lowest. If a students secures a spot on the tour, he will be charged his/her waitlist bid amount

Questions?Please reach out to Jason Yun (JYUN19@gsb.columbia.edu)