SEVEN MILE BEACH, Grand Cayman (March 17, 2017) – Pretty cool real estate and hospitality news broke here this morning, as news hitting the local press that Dart Realty (Cayman) Ltd. has agreed to acquire the former Hyatt property and Beach Suites.
The property is well-known for several reasons. In 2004, Hurricane Ivan decimated the Hyatt hotel, which has been closed since and now stands as a shell of its former glorious self. But a decade before Ivan, Tom Cruise and Co. filmed key scenes for “The Firm” on the exact stretch of beach that fronts the property. Several scenes were filmed at and round the hotel, too.
The seller, Embassy Investments Ltd., plans to close the Beach Suites in September. Dart Realty is working with Embassy Investments to offer its employees the opportunity to secure jobs at Kimpton Seafire resort that opens late this year on Seven Mile Beach. Employees also will have opportunities to apply for jobs at other Dart companies.
The acquisition by Dart Realty, a Wilbert client, also includes Britannia Golf Course, a public 9-hole course. The golf course is adjacent to Dart Realty’s Camana Bay mixed-use development.
Dart Realty CEO Mark VanDevelde tells Cayman Compass that Dart has not definitive redevelopment plans at this moment. “In the coming months, we will carefully study the site, explore the options and master plan its integration into Camana Bay,” he said.
The post Dart Realty Acquires Cayman Property Made Famous by Tom Cruise appeared first on Skyline Views.
