Developer Pearl Development has purchased 11 units at the Coral Beach Club in Sint Maarten, Caribbean Journal has learned.
Pearl, which is the developer of the island’s Oyster Bay Beach Resort, acquired 11 of the 24 units at the property, which is a luxury resort consisting of villas and townhomes.
Terms of the deal were not disclosed.
“While enjoying the resort feel, Coral Beach Club provides the highest in quality residences — right on Dawn Beach and Oyster Pond,” said Pearl Development Executive VP and General Counsel Mike Dolente, who led the transaction. “The affiliation of the upscale resort will enhance the opportunities for our OBBR owners to trade-up to even more luxurious and more private vacation homes.”
The Coral Beach Club will continue to be operated with “little change in personnel or other operational considerations,” the company said in a statement.
Coral Beach Club will “complement the services and facilities at the Oyster Bay Beach Resort but will maintain a separate and distinct community and identity for its owners and guests.”
Of the 11 units, six are beachfront, while four face the marina and one is an apartment. The company also acquired the property’s office and reception center.
The six oceanfront residences feature panoramic views of Dawn Beach and the Oyster Pond Marina.
Pearl will be remodeling the reception building, with a new landscape and improved entryway, the company said.
“The townhouses on the marina offer an endless parade of beautiful sailing vessels and power boats, as well as breathtaking views of nighttime lights on Oyster Pond and the surrounding hillside communities, while the ocean-front units have a spectacular view of the lovely Dawn Beach and crashing ocean beyond,” Dolente said.
Pearl also intends to establish a vacation ownership program at the property “to sell ownership interests to those families who want to enjoy the most luxurious and comfortable vacation experience.”
— Caribbean Journal Staff