Strategic Completes Financing for Condos in Punta Cana, DR
NEW YORK, NY, December 13, 2006. Strategic Capital Solutions, LLC ("SCS") today announced the closing of a $22.5 million acquisition and construction loan to an affiliate of JNS Capital Partners, Inc. ("JNS"), a Florida based real estate development company. The financing will provide for the development and construction of a new 186 unit luxury vacation golf condominium complex called "Anabey", located in the exclusive Punta Cana area of the Dominican Republic. The project follows two successful fully sold developments in the same area.
"This is the second transaction that SCS has closed in the Dominican Republic and reflects our commitment toward financing commercial real estate projects in the region", says Edward O. Mehrfar, Managing Member of Strategic Capital Solutions. Anabey will consist of spacious residences spread over 28 buildings. Residents will have direct access to the White Sands Golf and Beach Resort surrounded by 18 holes of golf designed by the six-time champion Jose Gancedo. Each unit will be fully furnished, including flat-panel televisions, internet and cable access. Anabey will feature a resort-style swimming pool, 3 tennis courts, fitness centers and a nearby Casino.
Van Negris, Chairman of JNS said, "We are pleased to have partnered with Strategic Capital Solutions for the financing of our Anabey project. Because of their in-depth understanding and experience in financing complex global transactions, the SCS team was able to rapidly bring the financing to completion. SCS not only provided the financing, but also materially contributed to the shaping and enhancement of the project itself. We look forward to financing other projects with SCS both in the Dominican Republic and elsewhere," Negris added.
SCS believes that the Caribbean and Latin American markets currently offer tremendous opportunities for investors. "We are aggressively seeking hospitality and residential development opportunities internationally," said Daniel Leski, a senior member of the SCS business development team, "and expect to close another luxury condo transaction in Mexico very shortly."
Closing international commercial real estate transactions can certainly be challenging, but SCS thrives on them. "Cross-border transactions require much more attention than conventional financings, but we have built our reputation on closing deals others won't even consider," said Mehrfar.
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