Oct 2, 2009 0
Carlton Savannah REIT Jamaica Close To Purchasing Property In Jamaica
Carlton Savannah REIT (CREIT) Jamaica is reportedly close to sealing a deal for the purchase of a property in Jamaica. According to Fayval Williams, CREIT’s executive director, they are in advanced negotiations for the purchase of a property in Jamaica, as the developer of its original investment plans to buy back the property. She did not state which specific property the company was currently negotiating for purchase. More about Jamaica property here.
The cash that will become available – J$510M (US$5.73M) at the purchase price equiv. to $7.41 per share – will most definitely have to be deployed quickly in order to ensure that investors continue to see increasing value in their investment. Consideration for acquiring new property will not be rushed. Cross-Caribbean transactions may require foreign exchange conversions. See Jamaica fx.
Carlton Savannah REIT, is a Real Estate Investment Trust for the Carlton Savannah Hotel. It was incorporated in Jamaica on April 21, 2008. The company is domiciled in Jamaica with its registered office at 7 Stanton Terrace, Kingston 6. It has one wholly-owned subsidiary, CSRSL (St. Lucia) Limited, incorporated in St. Lucia, the principal activity of which is the beneficial ownership of 7 Hotel Apartments in the Carlton Savannah Hotel in Trinidad.
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