Basar International Group and BSD Equities takes to market the Diamond Palace Hotel and Casino
Diamond Palace and Casino in San Juan Puerto Rico goes to Market
Basar International Group and BSD Equities is offering investors and developers a unique opportunity to enter the San Juan market in Puerto Rico. The Diamond Palace Hotel and Casino is a rare investment opportunity in market that has a high barrier to entry .
The location is idea for investors and would be exceptional for a timeshare facility for travelers seeking an offshore carribean retreat .To create a greater return on investment, the owners have successfully worked with Puerto Rico laws to remove union labor which required a (6 month closing of the casino and parts of the hotel faciltiy.)
For developers the property sits on 24,000 square foot print that is idea for development of a 300-400 key first class flagged hotel and casino with global registration network " this approach would be the key strategy for a developer in a market that already has head count" says".Bilal Mansoor of Basar International Group.
The Diamond Palace Hotel consist of (two buildings totaling approximately 112,000 square feet, with a 151 room keys,they include 118 deluxe rooms and 33 ocean view suites,2 restaurants, pool and swim bar, 2 conference facilities, lobby, casino with 216 slot machines and 8 game tables .
The hotel and casino asset is appraised with proposed renovations at over $45,000,000 US dollars. The owners are seeking a $17.5M joint venture partner or an outright sale of the Diamond Palace Hotel and Casino.
Asking Price: $35,000,000 US Dollars
If interested please contact Bilal Mansoor 267-258-5220 or Charles Glatter 917 -612-7222 and we will foward NDA agreement and complete offering.