"It was an honor to be AIC Caribbean Fund's first investee company in the Dominican Republic. As investors, they understand the pragmatic realities of the infrastructure construction business through different business cycles and were very responsive to the needs of Moya. We look forward to partnering again with ACF in the near future."
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