$775 Million NIA Resort Community Will Be the First All-Inclusive Project in the History of Marriott’s Ritz-Carlton
The Carlton Group. Ltd., announced today that the real estate investment banking firm has been named the exclusive advisor to Artha Capital for the procurement of $300 million of equity for the $775 million development of NIA, a planned resort community by Marriott International Inc. on Mexico’s Riviera Nayarit. Artha Capital, a leading Mexico City-based real estate development and investment management company, is seeking an equity partner for the development of four all-inclusive hotels within the Riviera Nayarit as part of the planned resort community for Marriott, the world’s largest hotel company.
“NIA presents investors an exciting opportunity to partner with an institutional sponsorship group with significant market experience for an innovative development backed by one of the world’s most iconic brands,” said Michael Campbell, CEO of The Carlton Group. “We expect robust interest from a wide range of capital sources for this project and look forward to structuring a transaction that meets the objectives of all stakeholders.”
Marriott’s decision to enter the All-inclusive market was driven by growing customer demand for what was once considered a niche market. The project represents Marriott´s launch of the worldwide All-Inclusive Program, with its two top brands, Ritz-Carlton and Westin.
Carlos Gutiérrez, Founding Partner commented, “This project is emblematic for Artha Capital as it demonstrates our ability to create highly attractive investment opportunities. Likewise, it is a sign of the strength and commitment of our team, our partners and collaborators to continue creating value for investors and offering unique experiences to our clients.”
The multi-branded 1,440 key project is slated to rise on 220 tropical acres along the Pacific Coast over two development phases. The first phase will consist of a Ritz-Carlton with 240 rooms and up to 98 branded residences, along with a Westin with 400 rooms, to open along the Riviera Nayarit in 2023. The second phase will feature a Marriott with 500 rooms and an Autograph Collection hotel with 300 rooms anticipated to open in 2025.
“Riviera Nayarit has emerged as one of Mexico's favorite and fastest growing tourist markets for its natural attractiveness, great accessibility and development of air and road infrastructure”, said German Ahumada, Founding Partner of Artha.
The assignment follows several successful luxury hotel transactions recently spearhead by Campbell and The Carlton Group. This includes the procurement of $1.4 Billion of capital to support the development of The Edition Hotel in New York’s Time Square and the $1.25 Billion construction loan for development of another mixed-use Condominium and 6-Star Hotel in Manhattan.
About The Carlton Group
Founded in 1991, The Carlton Group is an international real estate investment banking firm that specializes in arranging equity partnerships and executing large, complex, often multi-tranche equity and debt transactions for large development and trophy assets. The firm has offices throughout the United States and Europe and has consummated well in excess of $140 billion of closed transactions for its high-profile roster of clients. The Carlton Group also executes an aggressive international advisory platform which is currently executing well over three billion dollars of equity, debt and investment sale advisory business throughout Europe. Carlton’s expertise includes arranging promotable equity, typically raising 90-95% of the equity to facilitate client transactions. For more information, visit www.CarltonGroup.com.
About Artha Capital
Founded in 2010, Artha Capital is a private equity firm, dedicated to the management and development of real assets with more than USD $1.6 billion in assets under management. Artha is committed to generate attractive long-term returns for its investors and operates through a diversified investment platform that offers a wide range of alternative products in the Real Estate and Energy sectors, meeting the investment needs and risk profiles of institutional and private investors.
With more than 30 projects in operation and development, and presence in more than 18 states of Mexico and in the United States, Artha Capital has promoted the creation of value for its investors through its investment platforms.
For more information, visit www.artha.com.mx
