CBRE Hotels Arranges Sale of Renaissance Aruba and Curacao

Portfolio Sale is One of the Largest Hotel Transactions in the Caribbean in 2017

MIAMI – October 23, 2017 – CBRE Hotels arranged the sale of the Renaissance Aruba Resort & Casino and the Renaissance Curacao Resort & Casino. The hotels, along with related retail operations, were acquired by an affiliate of Wind Creek Hospitality. 

CBRE Hotels’ Christian Charre, Paul Weimer, Andy Wimsatt, Bradley Burwell and Mark Owens represented the seller, DLJ Real Estate Capital Partners, LLC, in the transaction. 

“This was a large and complex transaction since both properties included several operating components in addition to hospitality. This required us to find a non-traditional buyer who was comfortable with gaming, retail, timeshare and hospitality, and able to close in two foreign jurisdictions,” said Paul Weimer, senior vice president, CBRE Hotels.   

The Aruba property is comprised of 556 hotel rooms, two casinos and approximately 150,000 square feet of premium retail outlets located in the Renaissance Mall and Seaport Marketplace.  Situated in the heart of the island’s capital, Oranjestad, the Renaissance also includes Renaissance Island, providing guests with the only private island experience in Aruba.  

The Renaissance Curacao is comprised of 237 rooms, a 23,000-square-foot casino, multiple food and beverage outlets, the island’s highest-rated shopping experience, and the 109,000-square-foot Rif Fort Mall. Long considered the island’s premier destination, the Renaissance complex is situated on a historically significant UNESCO heritage site.  

CBRE Hotels is a specialized advisory group within CBRE providing advisory, asset management, capital markets, investment sales, research and valuation services to companies in the hotel sector. CBRE Hotels is comprised of more than 385 dedicated hospitality professionals located in 60 offices across the globe.

About CBRE Group, Inc.
CBRE Group, Inc. (NYSE:CBG), a Fortune 500 and S&P 500 company headquartered in Los Angeles, is the world’s largest commercial real estate services and investment firm (based on 2016 revenue). The company has more than 75,000 employees (excluding affiliates), and serves real estate investors and occupiers through approximately 450 offices (excluding affiliates) worldwide. CBRE offers a broad range of integrated services, including facilities, transaction and project management; property management; investment management; appraisal and valuation; property leasing; strategic consulting; property sales; mortgage services and development services. Please visit our website at​.