Markets

Unfinished Anguilla Resort Sells for $15M

By: Caribbean Journal Staff - June 13, 2011 - 10:58 pm

The still-unfinished 280-acre Temenos resort on Anguilla was purchased by an American home-goods executive for $15 million. Leandro Rizzuto, who owns the nearby CuisinArt Resort & Spa on the island, paid around 10 percent of the balance owed to the mortgage holders of the property. Temenos’ original developers, Flag Luxury Properties, ran out of funding in 2008 and halted construction. [Wall Street Journal]

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