New York based investment firm Colliers International is teaming up with Aldesa (Costa Rica) and Landvest (Canada) seeking out $70 million in capital for an impressive luxury resort development in Guanacaste, Costa Rica. Home to the Andaz Papagayo and Four Season at Peninsula Papagayo, among other luxury resort communities, Guanacaste is one of the hottest locations for real estate development abroad.
According to recent reports, the firms are trying to raise $70 million for the Monte del Barco Hotel and Private Residences, which also includes a championship golf course designed by legendary Jack Nicklaus, as well as a 250 home gated complex on a sprawling 902 acres of lush Guanacaste landscapes.
The oceanfront mega-development, situated on the sparkling Gulf of Papagayo in Culebra Bay, will offer an array of leisure activities, a plethora of dining experiences, as well as an 8,400 square foot elite spa.
According to an exclusive report by the Commercial Observer, Colliers Executive Director Jeffrey Donnelly and Director Ulrike Ahrens are seeking $20 million in preferred equity to support a $50 million construction loan that has yet to close. The brokers are also looking to arrange a $50 million senior loan for infrastructure work on roads and homes in the gated community.
“We also have a better, more convenient, more strategic location than the Four Seasons or the Andaz,” Mr. Donnelly said in the report by the Observer. “That, coupled with the very strong, institutional sponsorship makes this offering a winner. We are delighted to be handling this exciting resort and residential financing.”
Included in the project are plans for the 5-star Monte del Barco Hotel. To be built 60 meters above sea level along a coastal ridge, this impressive boutique hotel will offer spectacular views of the surrounding tropical jungle and Pacific Ocean. The 51 beachfront villas and suites are reported to be among the largest in the Guanacaste region, offering luxe accommodations set to rival the existing resorts in the Papagayo Area.
The Spa at Monte del Barco will feature 12 treatment rooms offering peaceful and holistic rejuvenation in the most pristine and natural setting. In addition to signature spa treatments, the resort will also feature a fitness center, tennis courts, outdoor swimming pools, and even a wildlife observation center – all enhancing the development’s offerings to create the ultimate guest and owner experience.