Two-Property Sale Marks Largest Hotel Transaction In Caribbean This Year

CBRE Hotels, in cooperation with locally-based Blue Point Consultants, has arranged the sale of The Westin Grand Cayman Seven Mile Beach Resort & Spa and The Sunshine Suites Resort, Grand Cayman. The 474-key resort complex was acquired by Invincible Investment Corp.

CBRE Hotels’ Christian Charre, Paul Weimer and Jennifer Jin represented the seller.

“With a strong mix of business and leisure demand and hotels continuing to post very strong operating results, Grand Cayman has consistently proven itself to be an excellent place to invest,” said Paul Weimer, Senior Vice President at CBRE Hotels.

Recently renovated and offering 343-keys, the Westin occupies a strategic location along Grand Cayman’s renowned Seven Mile Beach.

“With the Westin coming out of a game-changing renovation in 2018 and experiencing explosive growth, multiple institutional investors competed for this asset, showing how strong the appetite is for properties located on what we call a ‘Blue Chip island’,” added Christian Charre, Senior Vice President at CBRE Hotels.

The 131-key Sunshine Suites offers a very complimentary all-suite product in a relaxing setting directly across the street from the Westin. The two properties will continue to be operated collectively.

CBRE Hotels is a specialized advisory group within CBRE providing advisory, asset management, capital markets, investment sales, research and valuation services to companies in the hotel sector. CBRE Hotels is comprised of over 385 dedicated hospitality professionals located in 60 offices across the globe.

About CBRE Group, Inc.

CBRE Group, Inc. (NYSE:CBRE), a Fortune 500 and S&P 500 company headquartered in Los Angeles, is the world’s largest commercial real estate services and investment firm (based on 2017 revenue). The company has more than 80,000 employees (excluding affiliates), and serves real estate investors and occupiers through approximately 450 offices (excluding affiliates) worldwide. CBRE offers a broad range of integrated services, including facilities, transaction and project management; property management; investment management; appraisal and valuation; property leasing; strategic consulting; property sales; mortgage services and development services. Please visit our website at www.cbre.com.