Miguel Angel Lemus recently returned to Puerto Vallarta after an absence from the local real estate scene of more than five years. And he’s returned in a big way, with two major real estate marketing projects (Villa Magna and the Peninsula) and others on the drawing board. Prior to this he was in Cancun handling the marketing for a number of major real estate developments. And although he is also involved with projects in Guadalajara and Mexico City, Puerto Vallarta is where his heart is. It was here, nearly 20 years ago, that he began his real estate career and helped coin the terms “mega-development” and “master broker.”
It all began with the Guadalajara-based company Grupo Situr in the mid ‘80s, when they decided to take their small tourism portfolio and expand nationwide. They started in Marina Vallarta, their first mega-development, and Miguel Angel was right there selling large land parcels to major developers, as well as the homes, condos and marina slips that Grupo Situr was offering. Grupo Situr grew quickly, perhaps now with hindsight too quickly. And Miguel Angel led the charge for Situr sales as they opened up Marina Vallarta-style developments in Ixtapa, Mazatlan, Costalegre, Baja and Cancun. At their peak, no Mexican developer came close to them, with their stock trading on Wall Street and Miguel Angel wining and dining pension fund managers and other international investors anxious to get involved with Mexico’s burgeoning real estate tourism market.
The party ended in the mid to late ‘90s for Grupo Situr and also for Miguel, who decided to take some time off before reappearing in Cancun to help market developments in Mexico’s largest and fastest growing tourism sector.
Today, Miguel Angel heads up Lemmus, a national real estate marketing company with projects situated throughout the country. His gregarious personality and his ability to bring people together to make the deal happen make him Mexico’s version of Donald Trump. He’s softened somewhat from his fast-paced, three cellular phones going at once days, but he’s still the guy who knows how to put the deal together. And there are plenty of deals to be made in Vallarta’s booming real estate market.