As the Caribbean crawls slowly out of the Great Recession, some parts of this region are doing very well. One of the areas we see a lot of activity is in small to mid-sized developments in The Bahamas. For developers who have been sitting on the sidelines, waiting for the right time to get their projects going, now seems to be that time.
One area that can be difficult to finance is resort development. There are a lot of great opportunities, but not nearly enough funding to pay for them all. We have seen a big uptick in requests for commercial financing in The Bahamas. Small to mid sized resorts are all the rage throughout the Caribbean, and the Bahamas is no exception.
With it’s proximity to the US, The Bahamas is the premiere location for US residents looking for vacation and second homes. These vacation villas do very well in the high end vacation market, and demand has never been higher as buyers shift away from condos to fully managed villas.
Buying and financing these villas in The Bahamas is not difficult; financing the resort and infrastructure on the other hand is a different story. At Carib Capital we do have lenders willing to work with the right clients on the right project.
There are a number of locations in The Bahamas where we can finance commercial properties. Depending on the property, stage of development, dollars needed etc, can all play a role in determining our ability to assist you. Obviously properties in Nassau are easier to finance than speculative developments on small outer islands.
An existing commercial (revenue generating property), is going to be easier to finance than a yet to be started resort. There is obviously much greater risk in a project that is not built or has a track record of revenue. We have recently worked on micro resorts in Abaco, Eleuthera and Bimini, so financing is not impossible on these smaller islands, it just has to be the right deal.
Talk to us today about your commercial financial needs in The Bahamas!