Sheldon Good & Company, a Racebrook Portfolio Company and America’s leading real estate auctioneer, will conduct the international auction offering of the Estrella del Mar Golf and Beach Resort in Mazatlan, Mexico.
The property offers various income-generating components including golf courses, a Wyndham resort hotel, over 2,100 completed and to-be-built premium residential units comprised of condominiums and luxury home sites and over 431 acres of future development land. The sale gives investors or developers in the global hospitality industry to establish or expand their presence within the Mexican market. Bids for the property are due on Jan. 31, 2013.
The master planned development is comprised of two distinct sections. The southern portion of the property, Phase I, has vast infrastructure in place and is currently operational with an experienced management team. The northern side, Phase II, incorporates hundreds of acres that provide a wide array of future development possibilities, including three additional beachfront condominium complexes, a second 9-hole golf course, a tennis club, equestrian facilities and numerous shops and restaurants. Buyers will have the opportunity to bid on Phase I, Phase II, or the property in its entirety.
The southern half of the property, Phase I, features three luxury condominium complexes that offer one-, two- and three-bedroom oceanfront units along with large infinity pools, whirlpool spas and underground parking; an 18-hole beachfront Robert Trent Jones Jr. championship golf course and 8,000 square foot clubhouse that annually plays host to the Mexican PGA Championship and the Sinaloa Governor’s Golf Tournament; and a recently-constructed Wyndham Las Villas Hotel & Spa providing 48 new and 20 original guest suites, beach access, dramatic views and amenities like tennis courts, swimming pool and a full luxurious spa. In addition, Phase I features single-family residential lots. The southern area also features a sea turtle habitat, where guests can work together with the resident biologist in a hands-on experience to help preserve this wildlife species, a state-of-the-art water purification facility whose standards are well above the standards in many U.S. municipalities, waste treatment plant and other resort amenities.
The northern half of the property, Phase II, has a preliminary plan for the future development of three beachfront condominium buildings and a 300-unit townhouse complex; 9-hole signature golf course; tennis club; equestrian facilities; multi-purpose fitness equestrian trail and shops and restaurants. The northern section could draw infrastructure already in place from the southern section, which includes roads, lakes, landscaping, drainage, water treatment and distribution, sewage, electrical and communications systems.
“Simply put, The Estrella del Mar Golf and Beach Resort is the finest master planned hotel and residential resort development available along the western coast of Mexico. The property offers an investor or developer with the best of both worlds: a resort hotel and golf operation complimented by condo and home site sales, as well as significant oceanfront acreage for future development possibilities,” said John J. Cuticelli Jr., CEO of Sheldon Good & Company. “With the right leadership and vision, the new ownership will effectively be able to unlock the full potential of the property and realize tremendous upside.”
The deadline for delivering sealed bids to Sheldon Good & Company is Jan. 31, 2013 at 5 p.m. Bids are to be delivered to Sheldon Good & Company, 488 Madison Ave., Suite 201, New York, NY 10022, USA.