Headrick and Pellerano lead luxury hotel deal
Latin Lawyer (2009)
Dominican law firms Pellerano & Herrera and Headrick Rizik Alvarez & Fernández have helped bring a US luxury hotel operator to the island to run a newly-built resort there. Rock Resorts retained Pellerano, alongside US counsel Sonnenschein Nath & Rosenthal LLP, in the agreement with Dominican real estate developer Bisonó Enterprises, which used Headrick Rizik and Greenberg Traurig LLP in the US.
The deal, closed on 20 July, will see Rock Resorts operate Balcones Del Atlántico, anew beachfront resort in the village of Las Terrenas on the north-eastern Samaná peninsula.
“If not the first, this is certainly one of the largest real estate projects in the country to be associated with an international hotel chain, specifically related to the sale and operation of apartment units,” says Headrick Rizik partner Mary Fernández.
She adds, “This resort is going to set new standards for Dominican tourism.” Under the deal, Rock Resorts will also provide advisory and marketing services to assist in the sale of residences. The resort will open this winter with 86 apartments, eventually to be expanded to 350, along with restaurants, bars, swimming pools and a fitness centre. Colorado-based Rock Resorts is controlled by Vail Resorts, which also operates mountain ski destinations and develops real estate.View PDF