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Luxury Hotel Cap Juluca to Be SoldFebruary 27, 2012
Anguilla's, if not one of the world's, most luxurious hotels is up for sale. The greater part of the real estate comprising the Cap Juluca resort will be sold at a public auction May 2, 2012.
The auction will take place as part of a restructuring process toward debt obligations owed to the original developer. "The opportunity to buy a world-renowned property of this quality and distinction is very rare," said David Kaufman, principal of real-estate auctioneer DK Realty Partners. "I fully expect Cap Juluca to draw strong interest from qualified investors around the world."
Due to a default on payments under terms of a settlement agreement between the current owner of the asset and Charles Hickox, the original developer of the property, the real estate assets are being sold at a public auction pursuant to Anguilla law. The settlement agreement was entered into in October 2010. The auction will have no effect on the operations of the hotel; a smooth transition is planned.