PAEZ Development Group (“PDG”) was formed on March 1, 2001 by Mrs. Martha E. Garza de Paez and Mr. Pablo Paez Garza. PDG’s leading role in the real estate development sector is a result of Martha’s twenty years of experience in the interior design business and Pablo’s extensive construction and engineering knowledge and expertise.
PDG’s completed its first real estate development project in South Padre Island, Texas, beginning construction in 2001 and completing it in 2003. This project, named “Las Dunas”, was primarily targeted to the high-end Mexican market. One hundred percent (100%) of the investment capital was funded by Mr. Adrian Paez Sr., former CEO of Seguros Comercial America (the largest insurance company in Latin America).
In 2005, PAEZ Development Group added a third shareholder, Adrian Paez G. Adrian comes to PDG’s with many years of experience in the private banking and corporate finance industry. The success of “Las Dunas”, a residential condominium complex built in 2003, established the foundation for continuing development in the US real estate market, especially in South Padre Island, TX. Subsequent condominium projects in this area include: “Las Villas”, “Las Verandas”, “Las Marinas”, “Los Corales”, “Las Costas”, “Las Velas”, “Las Joyas” and “Las Carolinas”.
PDG’s has also established its reputation abroad through “Los Robles” and “Los Rincones” developments, both located in San Pedro, Garza Garcia in Mexico. Both projects created an ideal platform to combine PDG’s vision with high net worth individuals seeking investments in luxury real estate.
Additionally, PDG’s has delivered the construction of “Aurum”, a 300,000+ square foot office tower, located in Monterrey Nuevo Leon, designed in conjunction with renowned Swiss architect Alexander Lenoir. The “Aurum” project reinforced PDG’s expertise in vertical buildings and commercial real estate. In order to further expand its operations, PDG’s, collaborated with advisors Mr. William Wright (a California based Investment Advisor) and Mr. Cosme Furlong Madero (former VP of Human Resources at Cemex), and created an organizational structure that led to the creation of “Artesanias”. “Artesanias” is a 135 unit residential project located in Nuevo Vallarta, Mexico with a focus on the U.S. retiree market.
Finally PDG’s, utilizing relationships with previous investors, created a new Private Equity division with the primary objective of attracting capital for the development of future properties. Thus far, this arm has assisted in the development of residential projects in Texas such as “Amara” in San Antonio, “Las Joyas” in Port Isabel Texas, “Las Velas” in South Padre Island, “Balcones” in Monterrey Mexico as well as the “Andenes” retail concept now under development and construction of more than 500,000+ Sq.ft, net leasable area in 3 different strategic locations in Monterrey, Mexico.