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TD Merchant Banking Engineers Finance Request for $20M Resort Purchase at Bahia de Los Suenos Mexico
TD Merchant Banking teams up with Manana Estrella LLC to secure $20m in bridge funds for the aquisition of a resort development property at Bahia de los Suenos Baja California Sur Mexico.
Bahía de los Sueños is an existing high-end residential resort community located South of Punta Arenas on the eastern coast of Baja California Sur near the Island of Jacques Cousteau (Cerralvo) and 35 miles south of the State capital, La Paz. This unique property is comprised of approximately 4,000 acres (1,400 hectares) with approximately 6.5 miles of coastline and 1.2 miles of white, sandy beaches.
The resort is conveniently accessed through La Paz or Los Cabos international airports or via a private airstrip located 5 minutes away. The drive time from the La Paz airport to Bahía de los Sueños is 45 minutes and 2 hours from Los Cabos airport. Primary access to the property is provided from State Road 286, which connects, to Highway 1 to La Paz and to San Jose Del Cabo. The initial development of Bahía de los Sueños began approximately 6 years ago. At present, the property is fully entitled with complete federal, state and municipal approvals. The current master plan contemplates development of the site in three phases. The first phase consists of approximately 2,315 acres (937 hectares) with the following improvements:
- 100+ residential ocean front and view lots
- Several residential fairway sites with existing home
- Several sites for multi-residential enclaves
- A boutique (14 room) hotel (included in the current acquisition program and under review and negotiation)
- A world class signature Tom Doak - 6912 yard, par 72, golf course
- An ocean front restaurant titled “1535” celebrating the year the Spanish arrived to Baja – offering service 7 days a week
- Security guard houses
- Improved access roads and internal streets
- Boat launching and landing area
-Later phases include the development a World Class Marina,Shopping Center and a 2nd 5 Star Boutique Hotel
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