Vidamar Resorts will consist of approximately 240 luxury condominiums, recreation facilities, and a private beach club in the coveted Diamante Riviera
SAN JUAN, PUERTO RICO, UNITED STATES, September 6, 2017 /EINPresswire.com/ — Vivaris Capital, LLC Acquires Vidamar Resorts Project
San Juan, Puerto Rico – 9/6/2017
Vivaris Capital, LLC ("Vivaris Capital," "Vivaris," the "Company," or the "Fund") today announced the acquisition of newly developed Vidamar Resorts Condominium project on the Diamante Riviera Coast in Southern Mexico. When completed, Vidamar Resorts will consist of approximately 240 luxury condominiums, recreation facilities, and a private beach club in the coveted Diamante Riviera luxury corridor. The first phase of this high-quality, trophy asset has been completed including 32 two-bedroom garden, mid-view, and penthouse units. The total investment in the project including the seven subsequent phases is expected to exceed $60 million. Vivaris Capital intends to create a residential destination in this tropical paradise that will attract visitors and owners on a global basis. Vidamar residents will enjoy living near the ocean while being located conveniently near a strong retail corridor in one of Diamante’s most affluent and fastest growing beach resort areas.”
“This transaction enhances our portfolio in one of our key target markets,” said J. Christopher Mizer, Managing Partner, Vivaris Capital, LLC. “This project provides us diversification within our real estate investments and provides future growth opportunities through the residential ownership club and management companies associated with the project.”
Steve Scholl, Partner, Vivaris Capital, LLC. added, “The acquisition of Vidamar demonstrates our progress executing on our objective to enhance our portfolio with high growth real estate assets. Further, Vidamar is an excellent fit for Vivaris with its exceptional geographic location allowing us to gain additional economies of scale within resort areas with beach access.”
“This is a cornerstone investment with a plan to expand 210 more units thus solidifying our commitment in the community, people, and city while creating dozens of new jobs. We are poised to bring some innovative, highly-selective services that will enrich the community and its residents”, stated Mark Hamade, Partner, Vivaris Capital, LLC.
Vidamar was designed by renowned Mexican architect Miguel Angel Cisneros, who has designed numerous award-winning projects in Mexico City and other resort properties over the past 30 years.
About Vivaris Capital
Vivaris Capital, LLC is headquartered in San Juan, Puerto Rico. Vivaris is an alternative asset investment company that allows investors to participate in private equity with more control of risk than traditional models. Vivaris specializes in investments in well-established domestic and international middle-market companies, as well as late-stage technology firms and real estate investments. Investments in private companies are traditionally made at an inflection point where additional capital, strategic expertise, and revitalized management incentives are capable of spurring significant economic expansion. These investments are operationally tested and revenue-proven. Vivaris' real estate investments are targeted at structures that are under-utilized or non-optimized residential and commercial real estate developments where proper renovations and marketing can drive value appreciation.
This press release contains "forward-looking statements" within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934. Although forward-looking statements in this release reflect the good faith judgment of management, forward-looking statements are inherently subject to known and unknown risks and uncertainties that may cause actual results to be materially different from those discussed in these forward-looking statements, including but not limited to our ability to maintain our website and associated computer systems, our ability to generate sufficient market acceptance for our products and services, our ability to generate sufficient operating cash flow, and general economic conditions. Readers are urged to carefully review and consider the various disclosures made by us in our reports filed with the Securities and Exchange Commission from time to time which attempt to advise interested parties of the risks and factors that may affect our business, financial condition, results of operation, and cash flows. If one or more of these risks or uncertainties materialize, or if the underlying assumptions prove incorrect, our actual results may vary materially from those expected or projected. Readers are urged not to place undue reliance on these forward-looking statements, which speak only as of the date of this release. We assume no obligation to update any forward-looking statements in order to reflect any event or circumstance that may arise after the date of this release.
Vivaris Capital, LLC
53 Calle Palmeras
San Juan, PR 00901
Vivaris Capital, LLC.
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Source: EIN Presswire