$59M properties in Cabo Rojo, Aguadilla on auction block

Written by  //  May 15, 2015  //  General Biz News  //  No comments

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The portfolio includes a 507-acre master planned destination resort property overlooking Boqueron Bay in Cabo Rojo.

The portfolio includes a 507-acre master planned destination resort property overlooking Boqueron Bay in Cabo Rojo.

Los Angeles-based Premiere Estates Auction Company announced Thursday a multi-property auction that includes sprawling beachfront sites in Aguadilla and Cabo Rojo, with a combined listing price of $59 million.

The portfolio includes a 507-acre master planned destination resort property overlooking Boqueron Bay in Cabo Rojo with a listing price of $50 million, that has been pre-approved for a 600-room resort hotel, 18-hole golf course, a 200-slip marina, retail village, 1,150 residential villas and 222 home sites.

An adjoining 167-acre oceanfront parcel under option can be acquired affording over a mile of beachfront on Boqueron Bay, the company said.

The other property on the block is Discovery Bay in Aguadilla, a 210-acre master planned resort and marina property located on Aguadilla Bay. The listing price for the property is $9 million.

It recently received the required Environmental Impact Statement approving a 500-slip marina for vessels up to 180 feet and up to 500 dry-stack marina, up to 330 hotel rooms and/or shared ownership units with casino, spa and meeting facilities, 737 residential touristic first and second home units, and 99,500 GSF commercial waterfront marina village and beach club, the auction company said.

“Premiere Estates is a solutions based company, seeking to offer unique solutions to our worldwide clientele. Allowing a specific global region to showcase its finest properties on sale allows potential buyers and investors the opportunity for a singular location to shop for the best properties for their individual endeavors,” said Tuvia Sablosky, director of sales.

The auction also includes five other properties throughout the Caribbean, worth a combined $141 million, including:

  • Selva Nueva, Costa Rica: A 3,200+ acre incredible beachfront property (including more than 2 percent of the world’s biodiversity) on the west coast of Costa Rica;
  • Cooper Jack Marina, Turks and Caicos: A 50-acre Ocean front, mixed-use development opportunity on the south side of Providenciales;
  • Corozal, Belize: Over 8,493 acres listed at $21 million nestled on the beautiful and vibrant coast of Belize;
  • Bolton Bank, Belize: A 4,000+ acre waterfront mixed-use resort hotel, residential, and commercial land development located in Belize City;
  • Southwest Ranches, Florida, USA: A 48-acre equestrian estate located in Southwest Ranches, Florida that was originally listed for $32 million.

Premiere Estates Auction Company is conducting a global marketing campaign and buyer hunt to locate the most qualified buyers and investors.

The auction will take place via sealed bid on June 18, when potential buyers will be invited to participate.

“Buyers should take advantage of the value proposition presented at auction. The Sellers of these offerings are motivated to sell, and will accept market value for these investment development opportunities. If a development in the Caribbean Basin has been on your radar, this is the time to run — not walk — to our auction,” said Ed Kaminsky, president of Premiere Estates Auction Company.

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