Paulson & Co. Inc. (“Paulson”), a New York-based investment firm, has announced that on behalf of its Recovery Funds it has acquired a majority interest in The St. Regis Bahia Beach Resort, Puerto Rico and the Bahia Beach Resort & Golf Club.
The St. Regis Bahia Beach Resort, Puerto Rico is located in a master-planned community situated on 483 acres of pristine coconut palms 25 minutes away from San Juan’s LuisMunozMarinInternationalAirport. In addition to the AAA 5 Diamond 139 room St. Regis® hotel, the community features luxurious ocean front and ocean view villas and golf and ocean view condominiums, a magnificent 2-mile crescent of sandy beach and a challenging 18-hole golf course designed by Robert Trent Jones Jr.
Since the first homes were built in 2007 by BBP Partners (“BBP”) – a joint venture between two of Puerto Rico’s leading real estate developers, Interlink Group (“Interlink”) and Munoz Holdings (“MH”) – over $125 million worth of residences have been sold at the resort and the $150 million St. Regis Bahia Beach Resort opened in 2010. Paulson is acquiring a majority interest in BBP through a comprehensive recapitalization.
“The St. Regis Bahia Beach resort is already one of the premier leisure travel destinations in the Caribbean, and there is increasing demand from both those looking to purchase holiday homes in Puerto Rico and from those living in or moving to the island,” said John Paulson, founder and president of Paulson & Co.
“We look forward to working with Paulson to continue the successful development of BahiaBeach,” said Federico J. Sanchez-Ortiz, President and CEO of Interlink Group. “We have an exciting vision for the project and plan to develop another $500 million of residences and resort amenities over the next decade. The future bodes well for BahiaBeach and our property owners and club members.”
BahiaBeach, one of the Caribbean’s finest residential and vacation enclaves, is taking shape on 483 acres of pristine coconut palms and native maritime forest within 25 minutes driving distance of San Juan. The community boasts a AAA 5 Diamond 139-key St. Regis® hotel with a Remede Spa®; gourmet restaurant Fern, inspired by the cuisine of Jean-Georges; a magnificent two-mile crescent of sandy beach; a challenging 18-hole golf course designed by Robert Trent Jones Jr. managed by Troon Golf; a beachfront clubhouse; and over 60 acres of natural lakes with a very popular Boathouse and Nature Center. It is also designated as a Certified Gold Audobon International Signature Sanctuary.
Available for those vacationers seeking a more permanent Bahia Beach experience are a variety of residences including luxurious oceanfront and ocean view villas at The Residences at The St. Regis Bahia Beach Resort, Puerto Rico, and golf and ocean view condominium residences.
BahiaBeach is idyllically situated along the ocean in northeastern Puerto Rico, bounded by the majestic El Yunque National Rainforest and two scenic rivers, along Route 187 at Kilometer 4.2 in the town of Rio Grande. The community is just 25 minutes via newly opened Route 66 expressway from San Juan’s LuisMunozMarinInternationalAirport, which is served by a variety of major airlines with direct flights from close to 20 cities in North America. Puerto Rico is a commonwealth of the United States so no passport is required for US citizens.
Bahia Beach Puerto Rica http://bahiabeachpuertorico.com
Paulson & Co. www.paulsonco.com
Interlink Group www.interlinkpr.com
Munoz Holdings www.mbhpr.com