Friday, September 22, 2017

Paulson & Co. Buys Harbour Lakes in Palmas del Mar



By on May 19, 2016

NEW YORK­­—Paulson & Co. Inc., a New York-based investment firm, has acquired Harbour Lakes in the Palmas del Mar resort community located in the municipality of Humacao, Puerto Rico, the firm announced Thursday. Terms of the transaction were not disclosed.

John A. Paulson, president of Paulson & Co., attends a U.S. Open match between Venus Williams and Francesca Schiavone at the Billie Jean King National Tennis Center in New York, U.S., on Tuesday, Sept. 7, 2010. Paulson, who became a billionaire by betting against U.S. mortgage markets, lost 11 percent this year in his New York-based firm's biggest hedge fund, according to a person briefed on the returns. Paulson & Co. oversees $31 billion. Photographer: Rick Maiman/Bloomberg via Getty Images

John A. Paulson, president of Paulson & Co. (Photographer: Rick Maiman/Bloomberg via Getty Images)

The 250-unit residential condo property is located 40 minutes from San Juan and boasts more than 46 acres within Palmas del Mar – a 2,700 acre gated resort community featuring beaches, championship golf courses and the largest tennis center in the Caribbean.

Palmas del Mar also offers academic facilities for children, a variety of restaurants, an equestrian center, a world class marina, a hotel and casino as well as various country clubs.

The acquisition consists of 149 spacious condominium units offered for sale, from 1,637 square feet (sq. ft.) to 2,045 sq. ft., 3 bedrooms, 2.5 bathrooms, private roof top terraces and assigned parking spaces.

Amenities at Harbour Lakes include a gated entrance, five pool areas, a clubhouse with gazebo, ample green space with landscaping, miles of running and walking paths and views of the Caribbean Sea, El Yunque National Rainforest and Vieques Island.

Residential unit buyers of Harbour Lakes also enjoy the benefits of the approved “Housing Incentives Act,” while new model units have designer upgrades and furnishings by Ileana Palacios and Nono Maldonado.

The resort community officially launched May 14. “Paulson looks forward to the future success of Harbour Lakes and Palmas del Mar as a premier resort destination in the Caribbean,” the statement read.

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