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Koll, Sternlicht JV Developing Cabo Condos

CABO SAN LUCAS, MEXICO- A partnership of Koll Co. and Starwood Capital Group Global LLC expect to begin site work around Christmas for a 233-unit for-sale residential development on 22 acres of oceanfront on the southern tip of Mexico's Baja Peninsula.

By Brian K. Miller | Updated on November 28, 2005

CABO SAN LUCAS, MEXICO-The 22-acre oceanfront Hacienda Hotel property here has been acquired for redevelopment by a partnership of the Koll Co. of Newport Beach, CA and Greenwich, CT-based Starwood Capital Group Global LLC. The JV plans to develop 203 for-sale condominiums and 30 single family homes.

Site work for the gated community is expected to begin around the end of December. The project will be developed in four phases. Delivery of the first units is expected in late 2006 or early 2007.

Koll’s acquisition and development manager Bill Larkin tells GlobeSt.com that the bulk of the units will be in a series of low-rise buildings up to six stories. In addition, there will be 30 single family beachfront homes. The development will offer direct access to the Cabo San Lucas Marina and include a beach club with full restaurant, infinity pools, spa, workout facilities and lounge for the use of residents.

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