Time Equities acquired the Altamer Resort in Shoal Bay West, Anguilla.
The boutique resort, designed by architect Myron Goldfinger, comprises three beachfront villas, a conference center, a beachfront restaurant space, 42 acres of undeveloped land and the rights to develop a marina adjacent to the property.
Led by developer Francis Greenburger, Time Equities plans to renovate, refurbish and reposition the existing villas, which total nearly 40,000 square feet, and continue to operate the resort as a boutique villa resort. Altamer will continue to be managed by the existing Anguilla-based team, led by Carl Irish, and will remain available for rent as individual villas or altogether for both private and corporate stays and events.
In addition, Time Equities plans to convert the former restaurant space into an additional four-bedroom villa, renovate and upgrade the conference center and launch a new website for the resort. The New York-based firm will also begin searching for a joint venture partner to develop and operate a marina adjacent to the site.
Designed by architect Myron Goldfinger in 1997, Altamer’s three beachfront villas – Russian Amethyst, Brazilian Emerald and African Sapphire – each showcase a distinct geometric style characteristic of Goldfinger’s work.