{"id":1004188891,"date":"2017-08-30T07:45:42","date_gmt":"2017-08-30T15:45:42","guid":{"rendered":"https:\/\/www.commercialsearch.com\/news\/?p=1004188891"},"modified":"2022-12-08T21:00:02","modified_gmt":"2022-12-09T05:00:02","slug":"cbre-brokers-25m-sale-of-luxury-resort-in-panama","status":"publish","type":"post","link":"https:\/\/www.commercialsearch.com\/news\/cbre-brokers-25m-sale-of-luxury-resort-in-panama\/","title":{"rendered":"CBRE Brokers $25M Sale of Luxury Resort in Panama"},"content":{"rendered":"

By Timea Papp<\/p>\n

\"Trump<\/a>

Trump Ocean Club in Panama City<\/p><\/div>\n

CBRE has completed the sale of the majority interest in Trump Ocean Club Hotel, a 369-unit luxury resort in Panama City\u2019s 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.<\/p>\n

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<\/a> designed in the shape of a sail, the tallest and largest building in the region.<\/p>\n

Strong representation<\/h2>\n

The team of Senior Vice Presidents Christian Charre and Paul Weimer, along with Vice President Natalie Castillo of CBRE Hotels collaborated with Managing Director Ramon Roux and Corporate Services Director Hawaii Chan of CBRE Panama to represent the seller. Managing Director Finbarr O’Connor of BRG Corporate Finance also advised the seller\u00a0in the transaction.<\/p>\n

\u201cThe Trump Ocean Club is a trophy asset in a dynamic market, but was hampered by a general, short-term oversupply of new product in Panama City,\u201d<\/em> said Charre, in prepared remarks.<\/p>\n

\u201cAlthough this is a complex, mixed-use property in a challenging market, we sourced a buyer who understands and recognizes the tremendous potential of the property and was able to patiently work through a multitude of issues,\u201d<\/em> added Weimer.<\/p>\n

Image courtesy of\u00a0Trump Ocean Club Hotel<\/em><\/p>\n","protected":false},"excerpt":{"rendered":"

The buyer acquired the majority stake in the five-star property, which is part of the Trump Ocean Club International Hotel and Tower Panama.<\/p>\n","protected":false},"author":240,"featured_media":1004188892,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[21743,21751,16,21783,21742],"tags":[32789,34228],"class_list":["post-1004188891","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-deals","category-hotel","category-international","category-investment","category-latest","tag-cbre","tag-trump-hotels"],"acf":[],"yoast_head":"\nCBRE Brokers $25M Sale of Luxury Resort in Panama - Commercial Property Executive<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.commercialsearch.com\/news\/cbre-brokers-25m-sale-of-luxury-resort-in-panama\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"CBRE Brokers $25M Sale of Luxury Resort in Panama\" \/>\n<meta property=\"og:description\" content=\"The buyer acquired the majority stake in the five-star property, which is part of the Trump Ocean Club International Hotel and Tower Panama.\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.commercialsearch.com\/news\/cbre-brokers-25m-sale-of-luxury-resort-in-panama\/\" \/>\n<meta property=\"og:site_name\" content=\"Commercial Property Executive\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/CPExecutive\" \/>\n<meta property=\"article:published_time\" content=\"2017-08-30T15:45:42+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2022-12-09T05:00:02+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2017\/08\/Trump-Ocean-Club.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"1777\" \/>\n\t<meta property=\"og:image:height\" content=\"1333\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"Timea-Erika Papp\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:creator\" content=\"@cpexecutive\" \/>\n<meta name=\"twitter:site\" content=\"@cpexecutive\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"WebPage\",\"@id\":\"https:\/\/www.commercialsearch.com\/news\/cbre-brokers-25m-sale-of-luxury-resort-in-panama\/\",\"url\":\"https:\/\/www.commercialsearch.com\/news\/cbre-brokers-25m-sale-of-luxury-resort-in-panama\/\",\"name\":\"CBRE Brokers $25M Sale of Luxury Resort in Panama - 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