8th January 2015 – WP Carey acquires Club Med resort in Mauritius
The La Plantation d’Albion Club Med resort in the Indian Ocean island nation of Mauritius was acquired by WP Carey for one of its REITs. The 266-room resort hotel sold for approximately $72 million.
The facility is triple net-leased to Holiday Village Management Services, a subsidiary of Club Mediterranee, for an initial term of 15 years.
“This transaction offered the opportunity for CPA:18 – Global to acquire an internationally branded upscale beach resort in a leading tourism destination,” said Carey managing director Jason Fox.
Continuum Holdings Limited initiated, and was part of the brokering and advisory team for this transaction.