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FIRSTROCK REAL ESTATE ACQUIRES REAL ESTATE IN GRAND CAYMAN

Business 12 Jan, 2023 Follow News

FIRSTROCK REAL ESTATE ACQUIRES REAL ESTATE IN GRAND CAYMAN

FirstRock Real Estate Investments Limited, a leading St. Lucian real estate investment company, has secured a multimillion-dollar acquisition in Grand Cayman. This transaction is a part of the Curio by Hilton chain of hotels, which will see Kailani, a luxury boutique hotel, constructed in the 7 Mile area of Grand Cayman. Leading this acquisition is Denroy Pusey, Assistant Vice President - Real Estate Business at the First Rock Group.

In an effort to diversify its portfolio, the Company acquired a stake in this property to cement its commitment to expanding its regional footprint. This project is being led by one of the largest development companies in Cayman, the NCB Group. It will boast over 60 keys ranging between 400 and 3400 square feet, complete with first class restaurants, spas and a gym.

According to Mr. Pusey, “When the NCB Group Cayman approached us with this prospect, we found it very attractive. Their brand is one that we are happy to be aligned with and while the Cayman Islands is a not an unfamiliar location for FirstRock Real Estate Investments, we see where this type of investment is viable and would add value to the portfolio.”

With over 10 years’ experience in construction, real estate investments, and project management in corporate Jamaica, Pusey maintains that the strategies employed to close this deal were very straightforward. “It was of utmost importance to us that the asset has and will retain its value in the years to come. Additionally, we had to ensure that the transaction will provide a good return on investment that will bring value to the company over an extended period of time.”

FirstRock Real Estate Investments Limited continues to attract great partnerships as it solidifies its presence in the international real estate market, injecting value into its expanding portfolio. Unlike a real estate investment trust, First Rock Real Estate Investments pursues its mandate of being a unique investor in everything real estate.


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