Unfinished Temenos Anguilla Resort Purchased by Equity Group
Hotel & Resort | December 16, 2010
Anguilla’s 275-acre Temenos Anguilla resort, which went into receivership earlier this year, has acquired a new financial backer, according to local press reports. Bloomberg, Cypress Equities Inc., a private equity firm tied to former Dallas Cowboys star Roger Staubach, plans to take over the unfinished resort after developers including Robert Sillerman of CKX Inc. defaulted on loans.
Cypress signed a binding agreement to acquire Temenos Anguilla by purchasing its debt, according to a BloombergNews.com report. The unfinished luxury resort was slated to include a 32-room hotel with 78 villas, plus beachfront views of St. Martin and Anguilla’s only golf course. The original developers completed the Greg Norman-designed golf course and clubhouse and most of 59 residential units before defaulting in 2008; a planned 32-unit condominium-hotel and spa, 45 villas and estate homes, and 14 acres of additional land remain unfinished.
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