Proven Properties has partnered with Caribbean Consultants Limited (CCL) one of Barbados' leading commercial real estate developers.
The real estate agency says the strategic joint venture agreement is a significant move to expand its regional presence.
The partnership includes the acquisition of 50 per cent of the shares in the company that owns One Barbados Place, a commercial office building in the bustling commercial hub of Warrens, St. Michael, with the other 50 per cent being owned by CCL.
The joint venture entails a total investment of Bds$13 million or US$6.5 million, financed through Bds$9.1 million in debt from Republic Bank Barbados.
Proven Properties says the partnership allows it to diversify its portfolio while adding value and generating the target returns for its investors.
All feeds
