"The Portland PE team approached our transaction in a very transparent and collaborative manner. We chose them because we expect them to be partners and more than simply a source of growth capital."
Las Olas
Date of Investment:
December, 2008
Deal Value:
$35 million
Status:
unrealized
Website:
www.metrocountry.com Las Olas is an affordable luxury beachfront condominium development project in the Dominican Republic. It is one of several projects of Group Metro, a premier real estate developer in the country. As part of Group Metro’s multi-phased approach to development, ACF was presented with the opportunity to provide capital to assist in the completion of Las Olas. Portland Private Equity has negotiated a transaction which combines a secured debenture component with elements of profit sharing as well as options on subsequent development.
The Portland Private Equity Difference:
The investment closed in Q4 2010, and Portland Private Equity has already added value by:
- Working with management to upgrade reporting and related processes as part of its diligence
- Providing a stable capital source and financial partner to a long-term project
- Raising the profile of the project through its involvement