Resort Development On the Way

Punta Brava is the site of the acquisition.

BAJA CALIFORNIA—GlobeSt.com has learned from sources unrelated to, but familiar with, the deal that First Capital Real Estate Investments plans to acquire the Punta Brava Golf & Surf Club project here from Punta Brava Partners LLC for approximately $5.5 million and invest roughly $35 million to develop the property further. The transaction is expected to close by December 31.

The planned development will include a Tiger Woods-designed golf course, multiple dining venues, a private hotel with approximately 20 villas, estate lots, a spa and recreational activities. Baja California is a Mexican state on the Baja California Peninsula, bordering California. The landscape spans mountains and beaches on the Pacific Ocean and Gulf of California. Towns near the US border include Tijuana and the town of Rosarito, with its wide, sandy Pacific beaches.