Knighthead Funding has presented a $61 million refinance for Dorado Beach, a Ritz-Carlton Reserve in Dorado, Puerto Rico, Commercial Observer has figured out.
The mortgage was presented to a sponsorship group that includes D.E. Shaw Group, Sculptor Authentic Estate, PRISA Team and CPG True Estate, per CPG’s web page.
Dustin Stolly and Jordan Roeschlaub, vice chairmen and co-heads of Newmark’s credit card debt & structured finance workforce, and Adam Etra, vice chairman and co-head of Newmark’s lodging group, negotiated the transaction, alongside with Nick Scribani, Chris Kramer, Donald Pavlov and Adrie Bailey.
The Newmark team did not return requests for comment. Knighthead officers verified the financial loan but declined to remark further.
The luxurious, beachfront vacation resort — situated at 100 Dorado Seaside Push and around 25 miles from San Juan — opened in 2012. It comprises 500 rooms, extra than 750 residences and sits on 1,400 acres with 2.5 miles of private beach locations. Knighthead’s loan refinances the lodge part only.
Resort facilities contain the award-profitable Spa Botánico, four food & beverage outlets, and rapid entry to the seashore and ocean. Some rooms also function an en-suite plunge pool. Resort company have comprehensive access to the Dorado Seaside Resort and Club, just one of the most historic social golf equipment in the Caribbean. Its features involve a few golfing classes, a non-public drinking water park, 11 miles of nature trails, an 8,000-square-foot conditioning centre and a tennis complicated.
At first a RockResort, Dorado Beach resort was obtained by CPG in an off-market transaction in December 2007. Its history spans back to 1905, and it initial opened its doorways to the public in 1958 as the first eco-vacation resort in the Caribbean, made by Laurance Rockefeller. Early superstar clientele included Joe DiMaggio, Elizabeth Taylor, Ava Gardner and John F. Kennedy.