Above: a villa at Christophe Harbour (CJ Photo)
By the Caribbean Journal staff
St Kitts’ Christophe Harbour development has been sold to one of its original developers, following the acquisition of parent company Kiawah Partners last week.
The St Kitts and Nevis Sugar Industry Diversification Foundation has partnered with Darby Family Investment Group to acquire the 2,500-acre development, which is located on the southeastern peninsula of St Kitts.
Darby Investment Partners is led by Buddy Darby, the outgoing CEO of Kiawah, which was purchased for more than $350 million by Charlotte-based South Street Partners at the beginning of the month, according to reports.
The SIDF, set up after St Kitts dissolved its sugar industry in 2006, was set up to help the government transition to a more diversified economy. It is one of the beneficiaries of St Kitts and Nevis’ Citizenship By Investment Programme.
“The execution of the sale option will ensure that Christophe Harbour continues progressing under its original leadership, and the forward momentum of real estate sales, marina construction, and Park Hyatt, St. Kitts hotel development will proceed without interruption,” SIDF and Darby said in a statement.
South Street said the transaction would allow the company to “dedicate itself fully to its core philosophy of continuing the residential real estate and private club management at Kiawah Island, along with our other high-end communities.”
“We congratulate Buddy Darby and the SIDF for forging this partnership that will positively impact the people of St. Kitts and Nevis and wish them success going forward,” said Patrick Melton, Managing Partner of South Street Partners.
Christophe Harbour is the site of a planned Park Hyatt resort project that just broke ground last week.