CBRE has announced the recent sale of the CostaBaja Golf Club and community in La Paz, Mexico for an undisclosed price.
CostaBaja is a world-class, 543-acre beachfront resort community that overlooks the beautiful Bay of La Paz and Sea of Cortez. Located 10 minutes north of Downtown La Paz, CostaBaja is an environmentally-responsible, fee simple development that offers luxury amenities including the area’s first five-star hotel and beach club, upscale spa, highly rated Gary Player Signature golf course and clubhouse, full-service marina and retail village, plus one mile of beachfront.
The transaction included a highly-rated championship golf course designed by Gary Player and striking clubhouse, oceanfront beach club and retail marina village, as well as the developer’s remaining inventory of unsold condominiums, townhomes, finished lots and developable land. Approximately 184 residential units have been built to date, representing less than 10 percent of the approved density. High-quality infrastructure is in place, along with all the necessary permits and licenses to continue development in the future.
CBRE represented the seller in the sale and its senior international team consisted of Tim Gifford, managing Director – Capital Advisors in Latin America; Christian Lega, Director of Tourism and Land Development; and Jeff Woolson, Managing Director of CBRE’s Golf & Resort Group. Mr. Woolson commented that, “CostaBaja is a first-class resort community that will benefit in the future from its proximity to Cabo San Lucas and the spectacular Sea of Cortez.”
About CBRE Group, Inc.
CBRE Group, Inc. (NYSE:CBG), a Fortune 500 and S&P 500 company headquartered in Los Angeles, is the world’s largest commercial real estate services and investment firm (based on 2017 revenue). The company has more than 80,000 employees (excluding affiliates), and serves real estate investors and occupiers through approximately 450 offices (excluding affiliates) worldwide. CBRE offers a broad range of integrated services, including facilities, transaction and project management; property management; investment management; appraisal and valuation; property leasing; strategic consulting; property sales; mortgage services and development services. Please visit our website at www.cbre.com.
