from yesterday's GlobeSt (12/20):
Strategic Pays $53M for Resort Site
By Joe Clements
"PUNTA MITA, MEXICO-Strategic Hotels & Resorts is aiming to build a mixed-use resort development here after acquiring 57 acres of property on a spear-shaped peninsula hugging the Pacific Ocean coastline. Chicago-based Strategic paid $53 million for the tract to DINE, the Mexican firm that is developing the 1,500-acre Punta Mita vacation enclave. " ...
"Featuring nine miles of shoreline, Punta Mita is surrounded on three sides by coves and white-sand beaches. DINE has spent more than $150 million to date developing the site’s infrastructure. The firm estimates that the property will have a total real estate value of $2 billion at full build out. Presently home to a Four Seasons resort, Punta Mita also has numerous private residences already built or under construction as well as the Jack Nicklaus Signature Golf Course, regularly ranked among the best resort golf courses in the world.
The Punta Mita master plan calls for development of a second Jack Nicklaus course, more residential properties and additional resort developments, including the St. Regis Resort & Residences slated to open by mid-2008." ...
for the complete story see:
http://www.globest.com/news/1060_1060/latinamerica/166945-1.html
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