Pérez Alati, Grondona, Benites & Arntsen has acted as deal counsel in the structuring of a trust securities programme "Briken" worth US$50,000,000 on which CFA Compañía Financiera Americana S.A. acted as Trustee and Issuer, ARG Capital S.A. acted as Organizer and Briken S.A. acted as agent of technology platform services (the “Agent of Technology Platform Services”) of the deal (the “Programme”).
The National Securities Commission approved the creation of the Programme on June 10th 2021.
The Series of Trust under the Program will finance real estate investments among which are the following: (i) the construction of real estate and units intended for housing, offices, commercial premises, garages and other uses, on land belonging to the assets of each trust or to third parties, for lease, sale, leasing, usufruct or any other form of commercialization or economic purpose; (ii) the purchase and sale of real estate and real property in general, whether or not both acts include forestation, urbanization, improvements, subdivision, agricultural work and other valuation and/or capitalization and/or development actions; (iii) the purchase of real estate for subsequent rental, leasing, sale or usufruct, whether or not such acts include valuation and/or capitalization actions such as recycling, improvements, restorations and other actions with the same purpose.
The Programme is the first one authorized by the CNV under Resolution No. 855/2020 of the CNV (Collective Investment Products for Real Estate Development). In turn, the Series of Trusts to be issued under the Program will have the advice of the Agent of Technology Platform Services who will be able to perform, among others, the following tasks: (i) provide management software to the Trustee, for the monitoring and control of the beneficiaries' investments; (ii) allow the interconnection of each Trust with its beneficiaries, and (iii) provide a digital representation of the Trust Securities.
Pérez Alati, Grondona, Benites & Arntsen.
Partner María Gabriela Grigioni, Counsel Facundo Fernandez Santos, Associate Nahuel Perez de Villarreal and paralegal Jerónimo Juan Argonz.