Strategic Pays $53M for Resort Site

PUNTA MITA, MEXICO-Strategic Hotels & Resorts is aiming to build a mixed-use resort development here after acquiring 57 acres of property on a spear-shaped peninsula hugging the Pacific Ocean coastline. Chicago-based Strategic paid $53 million for the tract to DINE, the Mexican firm that is developing the 1,500-acre Punta Mita vacation enclave.

“Punta Mita is now completely sold out for new, large-scale development opportunities,” reports Andres Rossetto, a DINE managing director who oversees the complex. Rossetto notes that Strategic’s latest deal represents its third purchase of a Punta Mita development site, a trend he says “underscores their enthusiasm for this exceptional resort and residential community.”

Featuring nine miles of shoreline, Punta Mita is surrounded on three sides by coves and white-sand beaches. DINE has spent more than $150 million to date developing the site’s infrastructure. The firm estimates that the property will have a total real estate value of $2 billion at full build out. Presently home to a Four Seasons resort, Punta Mita also has numerous private residences already built or under construction as well as the Jack Nicklaus Signature Golf Course, regularly ranked among the best resort golf courses in the world.