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camador
Junior Nomad
Posts: 38
Registered: 6-8-2009
Location: La Paz, BCS
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Mood: Enjoing the life !!
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Today we meet the new owners of Loreto Bay
Today is officially presented the buyer and new owner of TSD LORETO PARTNERS, TSD operates the real estate project LORETO BAY, this will conducted in
the state capital in a press conference headed by the state governor Narcizo Agundez Montaņo and the national director of FONATUR Mexico Miguel Gomez
Mont.
http://www.radarpolitico.com/2009/07/17/hoy-se-conocera-al-n...
Related notes:
http://www.radarpolitico.com/2009/06/08/a-partir-de-hoy-susp...
http://www.radarpolitico.com/2009/06/12/adeuda-loreto-bay-16...
Search for more related nots using the site search.
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cajhawk
Junior Nomad
Posts: 64
Registered: 11-16-2004
Location: Ramona, CA
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It seems to be a pretty well kept secret if this is true. No blogs or message boards are speculating on the new owners.
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backninedan
Senior Nomad
Posts: 865
Registered: 3-8-2003
Location: Loreto
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Loreto radio station said today that fonatur was taking over the golf course and the hotel until such time that a sale is made.
Who can tell what the real story is.
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CaboRon
Ultra Nomad
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Location: The Valley of the Moon
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Well, Did You Meet Them ?
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Don Alley
Super Nomad
Posts: 1997
Registered: 12-4-2003
Location: Loreto
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Latest issue:
http://www.radarpolitico.com/2009/07/17/iniciaran-operacione...
Looks like the state will re-open and run the hotel and golf course, beginning Monday. And there are unnamed investors "interested" in taking over the
company.
They also report that Volaris is interested in a TJ/Loreto/Cabo flight, and that the state is still trying to get the long rumored AeroMexico San
Diego flight off the ground.
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BajaNews
Super Moderator
Posts: 1439
Registered: 12-11-2005
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According to this Sudcaliforniano report today (in Spanish), the Inn and golf course are reopening on Monday:
http://www.oem.com.mx/elsudcaliforniano/notas/n1249621.htm
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camador
Junior Nomad
Posts: 38
Registered: 6-8-2009
Location: La Paz, BCS
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Mood: Enjoing the life !!
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What does FONATUR hide ? they didn't announce the new buyer .... Posible buyers of Loreto Bay are Luis Cano Hernandez (Paraiso del Mar) or Sanchez
Navarro family (La Paz entrepreneurs) ... just checked it at http://twitter.com/radarpolitico
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flyfishinPam
Super Nomad
Posts: 1727
Registered: 8-20-2003
Location: Loreto, BCS
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Please realize that these "news" outlets both linked in this thread print an awful lot of rumor and innuendo. There have been things reported on as
fact that never materialized, remember that CCC supposedly being built on the highway? Never happened. And the cruise ship dock that was supposed to
be started last year, so far no start, hopefully never. So please take these sources with a big grain of salt and realize that propagandist reporting
is quite common here. The only news source that seems to be a consistently good source is Zeta out of TJ and most of the reports in there would curl
any potential investors toenails.
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flyfishinPam
Super Nomad
Posts: 1727
Registered: 8-20-2003
Location: Loreto, BCS
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Mood: gone fishin'
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Here's a good one from that El sudcaliforniano article
"according to FONATUR 55% of the population of Loreto economy depends directly or indirectly on Loreto Bay"
remember these are the same people who presented this huge need for an Escalera Nautica complete with an overland pass from BOLA to Santa Rosallita.
Where do they get their stats from? anyone who blindly believes these people and bases their investments upon their date are fools.
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bajabeachbabe
Nomad
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Registered: 9-11-2006
Location: Loreto,
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And from the Beck Loreto website:
http://www.site.beckloreto.com/Homeowner_Updates.html
"False Report. There was a release today indicating that there was a buyer for Loreto Bay. Some of you contacted us about this, so it may be
circulating. This is not the case, according to Alvarez and Marsal. The root of this confusion is that FONATUR this week agreed to take over the
maintenance of the golf course and the hotel. This is old news, although good for the development. The details of this arrangement have not been
disclosed"
Beck is working directly with the firm hired by Citibank to find a buyer (Alverez and Marsal), so I would believe something they post. Beck is trying
to salvage the partially completed houses for the Agua Viva owners at Loreto Bay and get them finished. They are posting daily updates on their
website for the homeowners and much of the information is exposing the ugly truth about the situation for the homeowners, but it looks to be brutally
honest.
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flyfishinPam
Super Nomad
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Location: Loreto, BCS
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Mood: gone fishin'
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Wow Beck seems like they are on top of it and ready for the job. good luck to them
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wilderone
Ultra Nomad
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Why didn't Replay do what Beck is doing now?
"anyone who blindly believes these people and bases their investments upon their data are fools."
Ha! Butterfield and Grogan did!! and they are.
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flyfishinPam
Super Nomad
Posts: 1727
Registered: 8-20-2003
Location: Loreto, BCS
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Mood: gone fishin'
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well my guess is that Beck, according to their website, is a reputable business that has been operating in Mexico for over a decade and Replay well,
Replay was not that it was something else.
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flyfishinPam
Super Nomad
Posts: 1727
Registered: 8-20-2003
Location: Loreto, BCS
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Mood: gone fishin'
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| Quote: | Originally posted by wilderone
"anyone who blindly believes these people and bases their investments upon their data are fools."
Ha! Butterfield and Grogan did!! and they are. |
well those two it appears have laughed all the way to the bank at our (US taxpayers) expense (Citigroup takeover) and at the expense of those
homeowners.
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vandenberg
Elite Nomad
Posts: 5118
Registered: 6-21-2005
Location: Nopolo
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For what it is worth !!
Just came back from Nopolo beach and the hotel is still fenced off. And the golfcourse doesn't show any sign of reopening either.
So much for rumors.
It's also possible that the Monday of the reopening wasn't dated, so it could be any Monday. Something like "Manana"
[Edited on 7-20-2009 by vandenberg]
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JESSE
Ultra Nomad
Posts: 3370
Registered: 11-5-2002
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Isnīt it strange. The Mexican goverment, that same goverment that is well known for flaking out of projects, leaving them half built, or going full
ahead in one administration, only to have the next drop out. IN LORETO they are the complete opposite.
They can't say no, they keep pumping money into a losing development, they keep trying to make it something it never will, and magic!!!!!! regardless
of whos president, each administration keeps supporting this losing project. Only explanation to me, somebody or many invested a ton of money on land
around the place, or this is one of those bubbles you get to blow up and deflate (wich means you can pump and remove your money right when you want
it).
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Cypress
Elite Nomad
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Location: on the bayou
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Loreto Bay. How long are they gonna keep pounding sand down that rat hole?
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flyfishinPam
Super Nomad
Posts: 1727
Registered: 8-20-2003
Location: Loreto, BCS
Member Is Offline
Mood: gone fishin'
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| Quote: | Originally posted by JESSE
Isnīt it strange. The Mexican goverment, that same goverment that is well known for flaking out of projects, leaving them half built, or going full
ahead in one administration, only to have the next drop out. IN LORETO they are the complete opposite.
They can't say no, they keep pumping money into a losing development, they keep trying to make it something it never will, and magic!!!!!! regardless
of whos president, each administration keeps supporting this losing project. Only explanation to me, somebody or many invested a ton of money on land
around the place, or this is one of those bubbles you get to blow up and deflate (wich means you can pump and remove your money right when you want
it). |
I think you're on to something here. 
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Don Alley
Super Nomad
Posts: 1997
Registered: 12-4-2003
Location: Loreto
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| Quote: | Originally posted by JESSE
...Only explanation to me, somebody or many invested a ton of money on land around the place... |
I think Loreto Bay was buying Nopolo land peicemeal, and FONATUR still owns much of the surrounding land.
Ah, and I believe some of the property in the area is owned by a Dutch conglomerate.
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vandenberg
Elite Nomad
Posts: 5118
Registered: 6-21-2005
Location: Nopolo
Member Is Offline
Mood: mellow
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| Quote: | Originally posted by Don Alley
Ah, and I believe some of the property in the area is owned by a Dutch conglomerate. |
800 M2.....
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