Superior Caribbean Beachfront Parcel Ready For Development – With a bona fide lender prepared to support a qualified buyer
The island of Barbuda is finally witnessing significant activity. At least two major projects are moving forward including the Barbuda Ocean Club being developed by the highly-regarded Discovery Land Company and John Paul DeJoria (founder of Paul Mitchell hair products), the new Paradise Found resort about to be initiated by actor Robert De Niro plus according to a new government press release a Chinese group is investing funds for the protection of vital environmental areas.
The subject property is a stunning 45-acre beachfront parcel which had been the site of the Lighthouse Bay Resort. After a 15-month wait observing regional trends and development viability the owners have launched a campaign to find the right party to develop this “shovel-ready” site. Total cost is approximately $62,500,000. for this project which includes both a hotel and real estate component. The buyer candidate must have development experience. A bona fide lender has been secured by the owners. The buyer will be required to produce $12,500,000 of cash equity and the lender is prepared to finance the balance of $50,000,000.
Beach parcels such as this are now a rarity in this part of the Caribbean and, of course, project financing is extremely difficult to secure.
For the right party this is a singularly opportune scenario. If you have an interest, the owners are available for a direct dialogue.
Contact: Julian M. Branker