ALOJICA COMPLETES ACQUISITION OF THE ROYAL ISLANDER CANCUN
MEXICO CITY, Dec. 21, 2023 /PRNewswire/ -- Black Creek Mexico ("BCM") is pleased to announce that affiliates of Alojica, a BCM sponsored investment platform, have completed the acquisition of the Royal Islander Cancun. Leveraging its prime beachfront location, Alojica plans to completely transform the property over the coming years as a leading all-inclusive resort in the Mexican Caribbean.
"We are thrilled to be making this investment in the largest resort market in the Caribbean and the #1 international destination for U.S. travelers in the world", said Oriol Gimenez, Managing Partner of Grupo Alojica. "This investment further underscores Alojica's strategy to pursue institutional-quality, value-add hotel investment opportunities in Mexico's primary resort markets, which are supported by rapidly growing consumer demand and world class tourism offerings as North America's natural warm weather destination".
The Royal Islander is located in the heart of Cancun's Hotel Zone and just minutes from Cancun's International Airport. The property features 369 guestrooms and suites with captivating views of the Mexican Caribbean and proximity to Cancun's primary tourism attractions including a wide variety of culinary and entertainment offerings.
About Black Creek Mexico
Black Creek Mexico is a leading private real estate investment management firm specializing in Mexican markets. Since 1996, BCM affiliated investment platforms have developed, acquired and operated more than 175 of industrial, retail, residential, multifamily and hospitality properties in Mexico, representing in excess of $3 billion of aggregate transaction value. The firm seeks to generate attractive risk-adjusted returns for its investment partners through investments in scalable, secular strategies. With offices in Denver, Colorado and Mexico City, BCM operates through a vertically integrated business model, combining direct local execution capabilities with an institutional investment management platform.
About Alojica
Alojica is a real estate investment management company focused exclusively on lodging real estate opportunities in Mexico. Sponsored by Black Creek Mexico, Alojica embraces a holistic institutional approach to hotels and hotel-anchored resort real estate that seeks to drive long-term asset value through strategic lodging expertise and asset management. A sponsor of real estate investment funds, partnerships and other investment vehicles, the firm is actively seeking institutional investment opportunities in lodging properties throughout Mexico's primary resort markets.
SOURCE Alojica
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