Above: the Altamer resort in Anguilla

By the Caribbean Journal staff

The Altamer Resort in Anguilla has been acquired by New York City-based Time Equities, Inc, the company announced Wednesday.

The resort, which was designed by architect Myron Goldfinger, consists of three beachfront villas, along with a conference centre, a restaurant space and 42 acres of undeveloped land along with marina development rights.

“The Caribbean is booming again and provides an incredible opportunity for real estate development today—particularly in Anguilla which has seen a surge of economic prosperity and demand from the global jet-set community,” said Francis Greenburger, founder of Time Equities Inc. “The acquisition of Altamer furthers our commitment to expanding Time Equities’ international footprint.”

The property, located on the western end of Anguilla’s Shoal Bay, was designed in 1997.

Time Equities said it planned to renovate the existing villas and that the property would continue to be operated by a team led by Carl Irish.

TEI said it would also begin searching for a joint venture partner to develop and operate a marina.

Terms of the deal were not disclosed.