Aug
30

CBRE Brokers $25M Sale of Luxury Resort in Panama

By
The buyer acquired the majority stake in the five-star property, which is part of the Trump Ocean Club International Hotel and Tower Panama.

CBRE has completed the sale of the majority interest in Trump Ocean Club Hotel, a 369-unit luxury resort in Panama City’s Punta Pacifica neighborhood. Newland International Properties Corp. sold the stake consisting of 202 hotel units to Ithaca Capital Investments in a $24.5 million deal.

Located at the tip of the Punta Pacifica Peninsula, the property opened in 2011. The stake acquired by Ithaca Capital Investments includes most of the existing suites and all the hotel amenity components, as well as 30,000 square feet of restaurants and bars, five oceanfront pools, parking rights and 21,000 square feet of meeting rooms and ballrooms. The asset is part of the Trump Ocean Club International Hotel and Tower Panama, a 70-story high-rise designed in the shape of a sail, the tallest and largest building in the region…

CBRE Brokers $25M Sale of Luxury Resort in Panama

Share

Leave a Reply

You must be logged in to post a comment.