Joel Gamez of Crown Jewel Penthouses is preparing to offer investors looking for diversification and the opportunity to participate in the appreciation of the Mexican real estate boom without the management responsibility.
With a successful history of the company's residential long stay operation in Monterrey N.L., Mexico, Esisa is looking to introduce its proven concept to the Playas de Tijuana, Baja California marketplace in the fourth quarter of 2007 at the Crown Jewel Penthouse Development. The details are being finalized, but most of the particulars are in place to meet the scheduled launch date.
The development offers a substantial cost savings to the corporate world for traveling executives, as an alternative to the high cost of hotel stays, while still offering a high level of service amenities. It's similar to airlines negotiating with a hotel for a specific number of room nights per year for their flight crews. Gamez says Crown Jewel is 100 percent sold out for nearly two years at the long stay operation in Monterrey, N.L., Mexico.
A management company handles the operation of day-to-day responsibilities. An investor can purchase a penthouse from developer, which can then configure the 2,000-square-foot penthouse into units ranging in size from 500 to 2,000 square feet. The units are then furnished with all the amenities that you expect to find in a four or five star hotel. The management company handles all the responsibilities, including product marketing to the corporate world. The unit owner receives a revenue share and is able to participate in the equity buildup through appreciation and debt reduction with the potential for positive cash flow.
With Tijuana being the third largest city in Mexico and with a robust economy, the timing and marketplace is right for this service product. If you would like to learn more, contact Gaylin Leth at (619) 994-5384, e-mail gleth@MexicanaProperties.com or visit www.CrownJewel.com.mx.