International edition
September 22, 2020

It iniciated conversations with Caribbean Property Group LLC

Royal Decameron Beach Resort Golf & Casino looks for a partner in Panama

(Panama).- Royal Decameron Beach Resort Golf & Casino, belonging to Decamerón group, is in conversations with Caribbean Property Group LLC (CPG), a company that administrates an investment fund for the sale of a bundle of shares of such complex.

We are talking with the company, but there is still nothing definitive, altough conversations are all right”, confirmed a source close to the negociation, which announced that a sales agreement could be signed in 30 days and that everything will be communicated in a press release.

According to extrajudicial sources, CPG intends to acquire part of the hotel assets in Playa Blanca for us$ 140 million. Decameron could go on operating the hotel.

This hotel group, that has a 20-year license in the Farallón area, has invested us$ 100 million in infraestructure in the last seven years. Nowadays, the resort has 820 rooms, a golf course, 200 country houses and a Fiesta casino.

CPG, with a venue in Puerto Rico, administrates Caribbean Real Estate Opportunity Fund, a us$ 500 million fund that has focused in the acquisition of real state properties in the Caribbean and Central America.

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