[Crealums] Portugal Development Opportunity

[nspencer@MIT.EDU]

If Aubrey's firned in London wishes to meet up with me (in London) we can 
certainly offer advice, valuation, financing etc through our London and Lisbon 
offices.

Regards

Nick

Nicholas A Spencer
Associate
Knight Frank (Grubb & Ellis)
20 Hanover Square
London W1S 1HZ

Direct: +44 (0)207 861 1189
Mobile: +44 (0)7909 687 240

nick.spencer at knightfrank.com

___________________________________________________________

Quoting Aubrey Cannuscio <aubrey at winprop.com>:

> I have a friend based in London who is the CEO of an institutional
> investment company. I am happy  to forward information to him if Kay
> approves.
> 
> Aubrey Cannuscio
> Vice President
> Win Properties, Inc.
> 66 Field Point Road
> Greenwich, CT 06830
> 203-861-7788
> 
> -----Original Message-----
> From: crealums-bounces at MIT.EDU [mailto:crealums-bounces at MIT.EDU]On
> Behalf Of by way of Marion Cunningham <marionoc at mit.edu>
> Sent: Tuesday, September 23, 2003 5:12 PM
> To: mit_cre at mitvma.mit.edu; crealums at MIT.EDU
> Subject: [Crealums] Portugal Development Opportunity
> 
> 
> Marion,
> 
> How are you? Professor Geltner suggested that I contact you re: an
> opportunity
> I came across.  I've already emailed certain members of my class (cre2003)
> about this, but feel free to forward this email to other class years if you
> think it's appreciate.
> 
> My friend told me about a resort (golf + leisure ctr) opportunity in
> Algarve,
> Portugal. It's an area with great golf courses and there are many English
> and
> German retirees.  I thought perhaps you may know of CRE alums or other
> contacts who may be interested.
> 
> The zoning + urban development have been fully licensed and have the full
> support of local authorities.  The site is 259 ha, has good access, and was
> originally agricultural, now fully approved for tourism.
> 
> The sale price of the land is about 35 million euro.
> 
> The approved development includes:
> 
> 2 luxury hotels
> Villas for rent
> Single family housing plots
> Golf club + golf academy (five 9-hole courses + 9-hole academy course)
> Country club with swimming pools
> Tennis club
> Bowling green
> Outdoor recreation centre
> Equestrian centre
> Health clinic
> 
> The owner wants to sell the undeveloped land to a developer.
> 
> What do you think?  Who might be interested in a project of this scale
> (developing solely or in a partnership or in syndication)?
> 
> If you know of investors / acquisition officers of opportunity funds /
> resort
> + country club developers-operators / hotel chains / retirement
> + community developers or others I should talk to, let me know!  Much
> thanks!
> 
> Best wishes,
> Kay
> 
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