Real Estate
Reuben Brothers Bet on $2 Billion Puerto Rico Project
- British investors team up with Three Rules Capital for Esencia
- Project will include hotel rooms, residences and new school
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Reuben Brothers and Three Rules Capital filed a master plan for a more than $2 billion development in Puerto Rico with its own private airport and views of the Caribbean Sea.
The project, called Esencia, will include luxury hotel rooms and branded residences at a site on the island’s west coast, according to a statement Thursday. The development will be anchored by hotel operators including the Aman Group, Mandarin Oriental Hotel Group and Rosewood Hotels & Resorts. Meanwhile, the developers are working with JPMorgan Chase & Co. as the lead bank for financing.