CPM served as Lender’s Representative in the rehabilitation of the Condado Vanderbilt Hotel and La Concha Resort in San Juan, Puerto Rico. The project scope included two phases: 

i) the rehabilitation of both hotels together with the construction of a three-story retail structure in the La Concha Cabanas Area and ii) the second phase included the construction of three condo-hotel towers and parking facilities.

Additional Highlights: 

• Both hotels represent iconic properties in San Juan, Puerto Rico. 
• CPM monitored the construction progress as well as the allocation, usage, and forecasting of funds. 
• CPM confirmed construction loan draws versus actual accomplished work and provided commissioning support.
• CPM kept an open and constant communication and reporting with Government Development Bank of Puerto Rico, which was the lender for the projects.