Norfolk, Va. – CBRE Hotels, acting as the exclusive advisor to Real Resorts, announced a joint-venture with Playa Hotels & Resorts BV involving four luxury, all-inclusive, beachfront resorts located in the popular tourist destinations of Cancun and Playa del Carmen, Mexico. The terms of the transaction were not disclosed.
The four resorts contain a total of 1,569 guestrooms as follows: the 288-room Royal Cancun, the 487-room Gran Caribe Cancun, the 507-room Royal Playa del Carmen and the 287-room Gran Porto Real Playa del Carmen.
The CBRE Hotels team that advised Real Resorts in this transaction consisted of Senior Vice President Andrew Wimsatt in Washington, DC; Senior Vice President Lewis Miller in Atlanta; and Executive Vice President Doug Henkel in Norfolk, Va.
Mr. Wimsatt noted, “This was a unique opportunity to bring together two leaders in the all-inclusive space to combine their respective expertise and create one of the strongest alliances in the industry. The Riviera Maya is receiving record numbers of visitors from around the world, and for our client to bring four, highly profitable hotel assets to the transaction created enormous velocity for the Playa Hotels & Resorts portfolio.”
CBRE Hotels is a specialized advisory group within CBRE providing brokerage, valuation and capital markets services to companies in the hotel sector. CBRE Hotels is comprised of over 150 dedicated hospitality professionals located in 37 offices across the globe. For more information, please visit our website at www.cbrehotels.com.
About CBRE – Hampton Roads
CBRE |Hampton Roads is an affiliate office of CBRE Inc. serving the Hampton Roads region. The firm assists real estate owners, investors and occupiers by offering strategic advice and execution for property leasing and sales; property, facilities and project management; corporate services; debt and equity financing; and valuation and appraisal. In 2012, the Hampton Roads offices completed over $775 million in sales and leasing transactions. For more information about the Norfolk or Newport News offices, visit our websites, www.cbre.com/norfolk or www.cbre.com/newportnews.
About CBRE – Mid-South Region
CBRE is the only global real estate services firm with offices in Norfolk, Newport News, Richmond, Charlottesville, and Fredericksburg, VA, and Raleigh and Greensboro, NC. These offices are collectively referred to as the Mid-South region. The CBRE Mid-South offices (excluding Northern Virginia and Charlotte, NC offices) completed $2.4 billion of sales and leasing transactions in 2012.
About CBRE Group, Inc.
CBRE Group, Inc. (NYSE:CBG), a Fortune 500 and S&P 500 company headquartered in Los Angeles, is the world’s largest commercial real estate services firm (in terms of 2011 revenue). The Company has approximately 34,000 employees (excluding affiliates), and serves real estate owners, investors and occupiers through more than 300 offices (excluding affiliates) worldwide. Please visit our website at www.cbre.com.