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Portrait ofCarolina Gajate

Carolina Gajate


CMS Grau
Av. Santa María 130
Miraflores, L18
Languages Spanish, German, English

Carolina Gajate joined CMS Grau since 2006 and was invited to be a Partner in 2014, specialized in real estate and corporate law. Carolina has experience in the development, planning and implementation of real estate projects in the areas of retail, hotels, real estate development, among others. This professional practice is not only linked to the acquisition of property and/or rights that may be granted in respect of property, but includes the analysis of the viability of the projects, obtaining permits and authorizations required for the operation and implementation of the same, as well as counseling in the renovation and/or modification of the aforementioned administrative authorizations.


In addition, she has participated and led Due Diligence related to real estate transactions and/or real estate financings for different economic groups relevant to the real estate, health and education sectors, in which the scope was not limited to the verification of the rights in respect of the property, but the validity of the permits and authorizations necessary to operate such properties.


Currently, Carolina leads a team of six (6) persons working in the strategic design, negotiation, execution and implementation of real estate projects for housing, hotels, commercial and retail, such as shopping centers, supermarkets, department stores, home centers, among others. This work involves the coordination and assignment of projects and tasks to the various members of his team, the monitoring of the progress of the projects taking into account work schedules and finally implementing the projects that Carolina´s area is in charge.


Carolina has as main clients retail companies, real estate investment funds, real estate companies, agricultural companies, hotel companies, among others.


Before CMS Grau, Carolina was associated at Barron & Asociados (firm specialized in bankruptcy and corporate law / 2003 - 2006)

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Interviewees recognize associate Carolina Gajate´s legal skills in this space. Her practice focuses on real estate, corporate and finance law. She is particularly adept at handling retail and property projects.

Chambers Latin America 2015 (Real Estate)

Up-and-coming Carolina Gajate offers experience in due diligence mandates, commercial property acquisitions and general civil law issues.

Chambers Latin America 2016 (Real Estate)

Relevant experience

  • Jockey Plaza: Assessment on the structuring and design, as well as in the development of a project, for the construction of a Hypermarket (Tottus) and a home improvement store (Sodimac) within the Jockey Plaza Shopping Center, which involved an investment of more than US$ 80'000,000.00 million, using the new figure of the sub surface or surface of second grade – this second grade surface right was the first one to be registered before the Public Registry of Lima-. Our advice, in addition to the design of the structure of this project, included obtaining building permits, the registration of contracts, the negotiation of labor contracts, the financing of the project, among others.
  • Sodimac Perú S.A.: Advice on the purchase of 100% (one hundred percent) of the shares of Maestro Perú S.A. for an amount exceeding USD $490'000,000.00 funded through an international bank lending. The transaction meant to Sodimac Peru S.A. the acquisition, in a single act, of more than thirty (30) commercial premises. The Advice to Sodimac Peru S.A. included the Due Diligence of all buildings owned by Maestro Perú S.A. and its related companies; as well as the subsequent renegotiation of certain contracts related to the aforementioned commercial premises, and the regularization of the licenses and authorizations required to operate such commercial premises.
  • Open Plaza Huancayo: Advice in the negotiation, structuring and acquisition of three (3) real estate premises owned by one hundred and fourteen (114) people who received the properties in payment of the social benefits of the Cooperativa Industrial Manufacturas del Centro (Cooperative). This transaction involved the design of the strategy and implementation of the same to obtain the restructuring of the real estates, the lifting of liens affecting the properties, the conclusion of judicial processes and the cancellation of the debts of more than two hundred (200) workers and former employees of the Cooperative. In addition, assistance in the obtaining of licenses and authorizations required for the construction and operation of the Shopping Center Open Plaza Huancayo, as well as in the recruitment of civil works. This transaction involved an investment of approximately US$ 280'000,000.00.
  • Brescia Economic Group (Urbanova): Assessment in the preparation of the legal strategy, analysis of possible contingencies and acquisition of a property with a value of more than US$ 17'000,000.00. In addition to the acquisition of the property, CMS Grau advised INVESTMENTS SAN BORJA in the drafting and negotiation of the Security Trust Agreement that was intended to ensure the obligations arising from the real estate Purchase Agreement.
  • Open Plaza Angamos: Design of the project destined to the construction and operation of a Shopping Center in Lima, which involved an investment of US$ 100,000,000.00 million dollars. Our advice included the negotiation with the different owners of the 10 real estate properties where the Shopping Center would be developed and the acquisition of such real estate properties, as well as the financing of the construction of the Shopping Center, the construction contract and the accumulation of the 10 real estate properties. In the framework of the development of the project easements and surface rights were granted, and a Security Trust Agreement was constituted.
  • Interbank Group: Direct and active advice to the Interbank Group in the development of a Due Diligence of buildings owned by third parties that are granted in a trust to the Interbank Group to ensure the debts granted by the Interbank Group in favor of such third parties. The Due Diligence has been drawn up jointly with different areas of CMS Grau. The purpose of performing the Due Diligence for the Interbank Group is to determine if the properties given in trust guarantee in a valid manner and without contingencies the secured obligations set forth in the Trust Agreement.
  • San Agustin Hotels (Miraflores and Arequipa): Advice not only to real estate companies but also to companies that have as their purpose the purchase of properties for the operation of hotels. About this, in the year 2015 Carolina provided advice to San Agustin in the acquisition of real estate both in Lima and Arequipa in order to build and deploy three- and four-star hotels; the amount invested for the purchase of three real estate premises was of approximately US$ 6'500,000.00.
  • Torres Unidas del Perú S.R.L.: Advice and preparation of a Due Diligence of one hundred and fifty (150) antennas owned by Torres Unidas for the purpose of determining the ownership and validity of the rights granted to Torres Unidas as well as the review of permits and authorizations to determine the validity of the same and if the antennas are equipped with all municipal authorizations required to operate such antennas.
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Memberships & Roles

  • Lima Bar Association (CAL)
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  • 2008 – Specialization in Construction Law, Universidad Peruana de Ciencias Aplicadas
  • 2003 – Law Degree, Universidad  de Lima
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Recent work highlights  Advised Hipermercados Tottus on the development and viability of commercial projects on real estate properties, resulting on the investment of around $15m per year. Advised Sodimac Perú on the $490m purchase of Maestro Perú´s 100% shares, its main competitor, in order to acquire more than 30 commercial premises. Advised Open Plaza: (i) on the acquisition of three properties in Huancayo owned by over one hundred individuals, obtaining licenses for the construction and operation of the shopping centre with an investment of approximately $280m; and (ii) in the Due Diligence and acquisition of real estate properties valued in $5m, destined to the expansion of a Shopping Centre in Lima. Advised Grupo Brescia on the acquisition of a real estate property worth more than $17m, including the development of legal strategy and analysis of possible contingencies and a guarantee trust contract to secure such obligations. Assisted Grupo Caral on the remediation of its developed projects that in total sum more than one thousand housing units, as well as the legal advice in the negotiation and structuring of the purchase agreement regarding a property located in Lima. Advised Minera Las Bambas (subsidiary of MMG Ltd mining company) on the acquisition and land remediation of approximately 270 hectares for the Nueva Fuerabamba project, a world class copper mine located in the Peruvian Andes. Advised Tahoe Resources Perú (subsidiary of Tahoe Resources Inc) on the legal and technical diagnosis of the real estate rights regarding La Arena and Shahuindo gold mine projects, which included registered legal duplicities and graphic overlaps, as well as the design of the most efficient land remediation strategy. Advised Provías Nacional (Peruvian government agency on charge of the national road system) on a legal and technical advice for the acquisition and land remediation related to four (4) important road infrastructure projects across the country. Advised Enel Green Power Perú on the acquisition and land remediation for Peru’s largest photovoltaic solar park “Rubí” and wind farm “Wayra I” located in Peruvian Andes and the Pacific Coast, designing strategies, conducting negotiations and the procedures to acquire easements for the construction and operation of the plants and power transmission lines. 
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