Comments on: Baccarat Hotel & Residences Temenos, Anguilla Announced

By: Sean

Sean — Wed, 08 Apr 2009 01:43:27 +0000

I am looking for others who have purchased in Temenos Anguilla. My employer has purchased a property there and has asked me to reach out to his future neighbors. We are looking to set up a communication chain via email so that we can discuss the project and keep one another posted as to its progress. Please email me at ricbroker25@aol.com if you would like to be included.

By: Sean

Sean — Wed, 08 Apr 2009 01:43:00 +0000

By: Bob

Bob — Tue, 24 Feb 2009 20:49:32 +0000

Great article Andrew and I believe you have only hit the tip of the iceberg. The outcome of this situation could be devastating to the island of Anguilla. This is why when a developer goes in and tries to control the entire product the risk is great because if their business model fails it generally leaves no wounded. St. Barts on the other hand has a platform where the individual investor has taken the risk and in the event fails does not take down the entire island. St. Regis in its effort to create a homogeneous product that has a consistent quality level has created a huge challenge for itself.

It would be interesting to fully understand their options as well as their short and long term plans to try and keep this project alive.

By: Bob

Bob — Tue, 24 Feb 2009 20:49:00 +0000

It would be interesting to fully understand their options as well as their short and long term plans to try and keep this project alive.

By: Chris

Chris — Tue, 17 Feb 2009 15:13:44 +0000

Good day to MikeONYC, I do not have any information on Temenos or Anguilla but I do work at Christophe Harbour in St. Kitts and would be happy to provide any updated information on our project if you are interested. Please email me at chris_stutts@christopheharbour.com or call 869.762.0030 for more information. Thanks, Chris

By: Chris

Chris — Tue, 17 Feb 2009 15:13:00 +0000

By: Lauren

Lauren — Wed, 14 Jan 2009 18:06:13 +0000

Has anyone heard anything more about this project? Either from other websites/blogs or Flag directly? I believe it would help if other buyers shared what little knowledge is available.

By: Lauren

Lauren — Wed, 14 Jan 2009 18:06:00 +0000

Has anyone heard anything more about this project? Either from other websites/blogs or Flag directly? I believe it would help if other buyers shared what little knowledge is available.

By: MikeONYC

MikeONYC — Sat, 03 Jan 2009 00:50:37 +0000

I was just at the site. Structures of the villas are pretty complete, but interiors are completely raw. Glass is in, so the weather ingress is limited. The “outdoor shower” areas in the baths upstairs are all filled with standing water, and the weather comes into the space there, so everything feels damp. Some really questionable-looking plumbing rough is in some of the villas. The hotel structure looks about 30% complete. The site is a total mess. Trash and piles of stuff everywhere. The scale of the place is really overwhelming with all the buildings up. The golf course looks like it’s being cut, though some of the grass looks frazzled -too much salt/too little expensive fertilizer?

Flag is buying back the debt? I thought CSFB provided a $180mm+/- construction loan… so Flag wants to buy it at a discount, then get financing to finish elsewhere? Interesting idea. But their cost over-runs by now must have eaten up all the discount they could hope to get and more. Couldn’t CSFB just foreclose and cut a deal with Flag to finish, then sell the whole project to someone new, leaving the equity out in the cold? Seems unlikely they would have approved construction draws to 100% with so much work to be done.

How much of the purchase price do buyers have up, and where is it? Spent? In escrow??

By: MikeONYC

MikeONYC — Sat, 03 Jan 2009 00:50:00 +0000

How much of the purchase price do buyers have up, and where is it? Spent? In escrow??