Distressed resort in Maldives on sale

Created on: 15 Aug 2017 Last updated: 15 Aug 2017
Project Location
Maldives
Primary Industry
Real Estate & Construction
Investment Amount
$17,000,000 USD for 80% of the equity

Project Description

DEAL PROFILE

• Unique opportunity to purchase a distressed resort in Maldives at below replacement cost and market cost.

• 105 room resort with 55 over water villas and 50 beach villas in Raa Atol, Maldives. Newly built in 2015.

• Equity investment of $17,000,000 USD for 80% of the equity.

• Purchasing for $357,000 / key which is well below replacement and market cost.

• Comparable transactions in Maldives are $600,000 - $1,200,000 / key.

• Owner is distressed in his core business and looking for a quick sale.

• ADR: $500 per night+.

• Management team identified and operations could restart immediately.

• 45 minutes by seaplane to Male International.

• Yield at Stabilization: 13%.

• IRRs: 30.4% (based on conservative underwriting). 

For inquiries, please contact:

Roger Chi

Partner Candareen Capital Co., Ltd. Roger@candareencapital.com +66 81 827 3538
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