Joe Sitt

Thor Urbana Capital, a joint venture between Thor Equities and Mexican developer GFa Grupo Inmobiliario, will invest $500 million into redeveloping real estate across Mexico, according to a company release. The first project will be a full-block development along Playa del Carmen’s Quinta Avenida, Spanish for Fifth Avenue, with high-end retail presence.

“Mexico has all of the favorable conditions to lead to a significant real estate boom largely unseen in developing markets to date,” said Thor Urbana Chairman Joseph Sitt. [more]