ByAdam Greenfader, Chair of AG&T andAmanda Staerker, Luxury Development Specialist. Saint Barths Mansions. Photo Credit: Lovephotolove AG&Trecently brought together a group of leading capital experts to discuss the Caribbean capital markets outlook for 2024.
Continue reading
Vie L’Ven, a forthcoming resort and residential property from Altree Developments, is bringing a new level of luxury to the Dutch side of the Caribbean island of St. Maarten.
The project is slated to make its debut in 2028, and Robb Report got an exclusive first look at the renderings. The development—the name translates to “life to live”—will feature a hotel component alongside a collection of fully furnished homes ranging from $800,000 to over $2 million. Altogether, the Cay Bay project will comprise a total of 280 units with 190 hotel rooms, 60 of which will be suites, and 90 private residences.
“Vie L’Ven stands as a unique and unparalleled project in St. Maarten, distinguished by its singular luxury experience,” Zev Mandelbaum, CEO of Altree Developments, tells Robb Report. “With only one other five-star hotel catering to a similar clientele, Vie L’Ven’s presence fills a crucial gap, providing an exclusive destination that will undoubtedly be in high demand. The extensive amenities that will be offered at Vie L’Ven set it apart, establishing a standard of luxury unmatched anywhere else on the island.”
Drawing upon both French and Dutch cultures for inspiration, the oceanfront building will be designed by award-winning architectural firm HKS with interiors by Toronto’s Studio Munge. In addition, the developer tapped Sotheby’s International Realty to handle all the sales and marketing. The homes on offer will be available in several different layouts, ranging from one-, two-, and three-bedroom residences that measure from 600 to 6,000 square feet. Owners will also have the option of entering their home into the resort’s rental program for short- or long-term stays.
Naturally, residents will have access to all the hotel’s facilities, including its three swimming pools, signature restaurants, and 24/7 concierge services. The grounds will also sport a world-class fitness center and spa and can be reached via boat.
“St. Maarten is a captivating island that seamlessly melds the cultural influences of both the French and Dutch, cultivating a distinctive European ambiance in the heart of the Caribbean,” adds Mandelbaum. “Embraced by natural beauty and tranquility, the island beckons with a plethora of attractions, from exhilarating nightlife to the allure of mega yachts. For those seeking a perfect blend of excitement and relaxation, St. Maarten promises a tapestry of unique experiences.”
Hotel Investment Today Article
Continue reading
Bringing together developers and capital has always been central to AG&T’s mission. Through ULI Southeast Florida/Caribbean, Pitching Caribbean Capital was created as a Shark Tank-style forum where promising Caribbean developments are presented before experienced investors, lenders, and industry experts, fostering collaboration, constructive feedback, and new investment opportunities across the region.
More than a competition, the program was created to foster meaningful dialogue between developers and the capital markets. Participants received valuable feedback from experienced professionals in finance, development, construction, sustainability, and investment, helping refine both their projects and their investment strategies.
The 2023 forum featured two outstanding development opportunities:
Sandy Point, Turks & Caicos, presented by Brad Lamensdorf, highlighting the continued strength of luxury resort and residential investment in one of the Caribbean’s premier destinations.
Town Center at Palmas del Mar, Puerto Rico, presented by Andrew Carlson and Nathan Whigham, illustrating the evolution of one of Puerto Rico’s most successful master-planned communities.
An accomplished panel of industry experts evaluated each presentation, offering thoughtful perspectives on market positioning, project feasibility, capital structure, sustainability, and long-term execution. The discussions demonstrated the value of bringing together professionals with diverse backgrounds and decades of real estate experience.
The success of the event reflected something even more important than the projects themselves: the growing collaboration taking place across the Caribbean real estate community. Developers, investors, consultants, attorneys, engineers, and public-sector leaders are increasingly working together to share knowledge, strengthen relationships, and expand access to capital throughout the region.
We extend our sincere appreciation to Akerman LLP for hosting the event, our distinguished panelists for sharing their expertise, and the many volunteers and ULI leaders whose dedication made the program possible.
Ponce Paradise in Ponce, Puerto Rico, receives the AIA Potomac Valley 2023 award for Urban Design and Master Planning.
Continue reading
Large-scale luxury developments require vision, patience, significant capital, and the ability to evolve as markets, ownership, and consumer preferences change. Few projects illustrate this better than the transformation of the former Four Seasons Resort at Cayo Largo into what is now Moncayo Golf & Ocean Club—one of the most significant luxury hospitality and residential developments currently underway in Puerto Rico.
For AG&T, the project represents far more than a single transaction.
It reflects nearly two decades of working alongside world-class developers, investors, hospitality brands, and international capital to help position Puerto Rico among the Caribbean’s leading luxury destinations.
Long before Puerto Rico’s current hospitality renaissance, the Cayo Largo site was envisioned as one of the island’s premier luxury resort communities.
Located along Puerto Rico’s spectacular eastern coastline, the project was designed to capitalize on one of the Caribbean’s most extraordinary natural settings while introducing a new level of luxury hospitality to the island.
At the time, financing a project of this scale required innovative thinking.
More than $100 million was successfully raised through the EB-5 Immigrant Investor Program, attracting international investors—primarily from China and Brazil—and demonstrating that Puerto Rico could compete for global sources of development capital.
The project also highlighted Puerto Rico’s unique competitive advantages as a U.S. jurisdiction, combining the security of the American legal and financial system with attractive economic development incentives and a world-class tourism destination.
As often happens with large master-planned communities, the project continued to evolve.
Markets changed. Capital markets shifted. New investors entered. The vision expanded.
Today, the property has entered an exciting new chapter as Moncayo Golf & Ocean Club, a transformative luxury community that has attracted one of the world’s most respected developers of private residential clubs—Discovery Land Company—along with a distinguished group of investment partners. The community will be anchored by Auberge Resorts Collection, marking the luxury hospitality brand’s first resort in Puerto Rico and further elevating the island’s position within the global luxury travel market.
Spanning more than 1,100 acres, Moncayo will feature an Auberge luxury resort, championship golf, private club amenities, wellness facilities, luxury residences, and extensive open space designed to celebrate Puerto Rico’s remarkable coastline and natural beauty.
While the total investment has not been publicly disclosed, the scale of the development places it among the largest and most significant luxury hospitality investments currently underway in Puerto Rico. Once completed, Moncayo is expected to establish a new benchmark for luxury residential and resort living in the Caribbean.
Perhaps the most important aspect of Moncayo is what it represents.
It reflects confidence in:
Puerto Rico’s growing luxury tourism market.
The island’s improving infrastructure.
Strong air connectivity to the mainland United States.
Increasing demand for branded residences and private club communities.
The long-term attractiveness of Puerto Rico as a destination for both investment and lifestyle.
For the broader hospitality industry, Moncayo demonstrates that Puerto Rico is increasingly competing alongside the Caribbean’s premier luxury destinations.
Large resort communities rarely follow a straight path. They evolve through multiple ownership groups, changing market cycles, innovative financing structures, and new strategic partnerships.
The transformation from the original Four Seasons vision to today’s Moncayo Golf & Ocean Club illustrates the importance of patience, flexibility, and long-term commitment when developing world-class destinations.
It also reinforces an important lesson for investors.
Great projects are not defined by a single financing structure or ownership group.
They are defined by exceptional locations, thoughtful master planning, and the ability to attract world-class partners over time.
Nearly two decades later, it is gratifying to see the original vision continue to evolve.
The emergence of Moncayo Golf & Ocean Club represents far more than a new luxury resort.
As Puerto Rico enters a new era of luxury hospitality and branded residential development, Moncayo stands as a reminder that visionary projects, supported by patient capital and exceptional partners, have the power to redefine an entire destination.
Miami, Florida — June 15, 2023 — Banesco USA welcomed business leaders, investors, developers, financial professionals, and policymakers to its new headquarters in Doral for an evening of conversation centered on Puerto Rico’s long-term economic future. The event featured Adam Greenfader, Chairman of AG&T, discussing his book, Why Puerto Rico Now: A Masterplan for Resurgence, Resiliency, and Long-Term Economic Growth.
More than a traditional book presentation, the event explored Puerto Rico’s transformation following years of fiscal restructuring, natural disasters, and unprecedented federal investment. The conversation examined how resilience, private capital, innovation, and public-private collaboration are reshaping the island’s economy and creating new opportunities across real estate, hospitality, infrastructure, technology, and finance.
The discussion was particularly meaningful as it coincided with the fifth anniversary of Hurricanes Irma and Maria—two events that fundamentally changed Puerto Rico’s approach to development and resilience. Rather than focusing solely on rebuilding what had been lost, the book argues for creating a stronger, more diversified, and more sustainable economic model capable of serving future generations.
Drawing upon more than twenty-five years of experience advising and participating in over $2 billion in residential, hospitality, commercial, and mixed-use development projects throughout Puerto Rico and the Caribbean, Greenfader shared lessons learned from working alongside developers, investors, lenders, government agencies, and international organizations during one of the island’s most transformative periods.
Throughout his career, Greenfader has championed initiatives designed to strengthen Puerto Rico’s economic ties with the U.S. mainland. Through investment conferences, educational forums, publications, and collaborations with organizations such as the Puerto Rico Builders Association, the Urban Land Institute, Bisnow, and numerous public and private institutions, AG&T has worked to position Puerto Rico as one of the Caribbean’s leading destinations for investment and long-term economic development.
The evening’s featured discussion paired Adam Greenfader with Rodrick T. Miller, President and CEO of the Miami-Dade Beacon Council, for a wide-ranging conversation about Puerto Rico’s evolving role within the broader U.S. and Caribbean economies.
Topics included:
Puerto Rico’s economic transformation following fiscal restructuring
Investment opportunities across hospitality, real estate, infrastructure, and technology
The growing importance of resilience and sustainable development
Innovation in financial services and fintech
Strengthening commercial relationships between Puerto Rico, Miami, and the Caribbean
The role of private investment in accelerating long-term economic growth
The discussion reflected a growing recognition that Puerto Rico’s future will be shaped not only by public investment but also by collaboration among financial institutions, developers, entrepreneurs, and business leaders committed to the island’s long-term prosperity.
By hosting the event, Banesco USA reinforced its commitment to fostering meaningful dialogue around economic development, entrepreneurship, and regional investment. Bringing together leaders from finance, construction, law, real estate, and professional services, the evening created an opportunity to exchange ideas and strengthen relationships between South Florida and Puerto Rico’s business communities.
The conversation also reflected a broader objective shared by both Banesco USA and AG&T: creating forums where thoughtful discussion can lead to new partnerships, informed investment decisions, and sustainable economic growth throughout Puerto Rico and the Caribbean.
Adam Greenfader is Chairman of AG&T, a Miami-based real estate development and capital advisory firm specializing in hospitality, residential, mixed-use, and island developments throughout Puerto Rico, the Caribbean, and Latin America. Over the past three decades, AG&T has participated in more than 55 development projects with an aggregate value exceeding $2 billion.
A frequent speaker on Caribbean real estate, hospitality investment, resilience, and economic development, Greenfader has organized numerous industry conferences and investment forums designed to strengthen connections between Caribbean opportunities and global capital. He previously served as Chair of the Urban Land Institute Caribbean Council and has worked closely with the Puerto Rico Builders Association and other regional organizations to advance sustainable development and long-term economic growth.
Why Puerto Rico Now: A Masterplan for Resurgence, Resiliency, and Long-Term Economic Growth is available in paperback, e-book, and audiobook formats, with the audiobook narrated by the author.
For more information about the book “Why Puerto Rico Now,” please visit www.whypuertoriconow.com. The book and Audio Book is available at amazon in paperback as well as in audio format, narrated by the author himself.
Few destinations in the Caribbean have demonstrated resilience as profoundly as Sint Maarten.
Within the span of just a few years, the island endured two unprecedented crises. First came Hurricane Irma in September 2017, one of the most powerful Atlantic hurricanes ever recorded. Just as reconstruction efforts were beginning to gain momentum, the COVID-19 pandemic brought international travel to a near standstill, effectively shutting down the island’s tourism-driven economy for months.
For many destinations, either event alone would have required years of recovery.
Sint Maarten faced both.
Yet today, the island stands as one of the Caribbean’s most compelling examples of resilience, demonstrating how thoughtful rebuilding, public-private collaboration, and the enduring strength of the tourism industry can restore confidence and create new opportunities for long-term investment.
When Hurricane Irma made landfall in September 2017 as a Category 5 storm, it fundamentally changed the island.
Homes, hotels, businesses, public infrastructure, and the iconic Princess Juliana International Airport suffered extensive damage. Tourism—the backbone of the economy—came to an abrupt halt as hotels closed, flights were suspended, and cruise ships were diverted to other destinations.
The economic consequences were severe. Visitor arrivals declined dramatically, businesses struggled to reopen, and thousands of residents faced extraordinary personal and financial hardship.
Yet even amid the devastation, rebuilding began almost immediately.
Government agencies, international organizations, private investors, hotel owners, and local communities worked together to restore critical infrastructure while laying the foundation for a stronger and more resilient future.
By early 2020, signs of recovery were finally becoming visible.
Hotels were reopening.
Airlift was returning.
Tourism confidence was improving.
Then came COVID-19.
Unlike Hurricane Irma, which physically damaged buildings, the pandemic halted demand itself. International travel restrictions effectively paused the island’s primary economic engine almost overnight.
Hotels temporarily closed.
Cruise operations ceased.
Restaurants, retailers, transportation providers, and countless small businesses experienced unprecedented disruption.
For an island where tourism supports much of the economy, the impact extended far beyond hospitality.
It affected nearly every sector.
The response demonstrated the importance of collaboration between government, financial institutions, tourism organizations, developers, and the private sector.
Emergency financial assistance, wage support programs, business relief initiatives, and international cooperation helped stabilize the economy during one of the most challenging periods in its modern history.
Equally important was the determination of the island’s residents and business community.
Rather than simply waiting for tourism to return, many businesses invested in renovations, operational improvements, digital technologies, enhanced health protocols, and new visitor experiences that positioned Sint Maarten for the recovery ahead.
The recovery has exceeded many expectations.
Princess Juliana International Airport has steadily restored international connectivity, reinforcing Sint Maarten’s position as one of the Caribbean’s most important aviation gateways.
Cruise tourism has returned to record passenger volumes, once again making Philipsburg one of the busiest cruise destinations in the region.
Hotels have experienced strong occupancy levels, improving average daily rates, and increasing visitor confidence.
Perhaps most encouraging has been the continued evolution of the island’s hospitality sector.
Rather than simply replacing what existed before Hurricane Irma, a new generation of investment is introducing luxury hotels, branded residences, boutique resorts, wellness experiences, and mixed-use communities that are repositioning Sint Maarten within the upper tier of Caribbean hospitality.
The pandemic also accelerated several trends that continue to benefit the island.
Travelers are staying longer.
Remote work has blurred the distinction between business and leisure travel, creating a growing market of visitors who combine work with extended vacations.
Families increasingly seek destinations within relatively short flying distances from North America.
Seasonality has become less pronounced as year-round travel continues to strengthen.
These structural changes are helping create a more diversified and resilient tourism economy.
Perhaps the most important lesson from Sint Maarten’s experience is not simply that the island recovered.
It is how it recovered.
The rebuilding process has encouraged higher construction standards, renewed infrastructure investment, more resilient development practices, and a renewed focus on quality over quantity within the hospitality sector.
For investors, resilience has become more than an environmental objective.
It has become a financial strategy.
Modern hospitality assets are increasingly designed to withstand future climate events, reduce operational risk, improve insurability, and create stronger long-term value.
The result is an island that is not merely rebuilding—but repositioning itself for the future.
Throughout AG&T’s work in Sint Maarten, we have witnessed firsthand the determination, optimism, and entrepreneurial spirit that continue to define the island.
Projects now underway—including new luxury resorts, branded residences, expanded hospitality offerings, and infrastructure improvements—reflect growing confidence in Sint Maarten’s long-term prospects.
Every Caribbean destination faces challenges.
Few have demonstrated the capacity to adapt and recover as effectively as Sint Maarten.
Its story is no longer simply one of surviving hurricanes or pandemics.
It is a story of reinvention.
For investors, developers, hospitality brands, and visitors alike, that resilience may ultimately prove to be one of Sint Maarten’s greatest competitive advantages.
Founded in 1998 and headquartered in Miami, AG&T is a Caribbean real estate development and capital advisory firm specializing in hospitality, residential, and mixed-use developments. With a track record spanning more than 55 projects throughout Puerto Rico, Sint Maarten, Costa Rica, Panama, the Dominican Republic, Mexico, and other Caribbean markets, AG&T continues to advise developers, investors, and institutions on the opportunities shaping the region’s future.
ULI Southeast Florida/Caribbean – Financing Real Estate Development in The Caribbean: Cayman Islands Deep Dive Join us tomorrow at 9:30 am: https://seflorida.uli.
Continue reading
As climate-related events become more frequent and more costly, resilience has evolved from an environmental aspiration into a financial imperative.
For developers, investors, lenders, insurers, and public officials, the question is no longer whether to build resiliently—it is how quickly resilient design can become the new standard.
Few places illustrate this transformation better than Babcock Ranch in southwest Florida.
Often recognized as America’s first solar-powered town, Babcock Ranch is much more than a sustainability success story. It is a real-world demonstration that resilient planning, thoughtful engineering, and environmental stewardship can protect lives, preserve property values, and create stronger long-term investment returns.
The stakes could not be higher.
Nearly 80 percent of Florida’s 22 million residents live within 10 miles of the coastline, making the state one of the world’s most climate-exposed real estate markets. Hurricanes continue to increase both in frequency and financial impact. Hurricane Ian alone caused an estimated $84 billion in damages, making it one of the costliest natural disasters in U.S. history.
As existing infrastructure ages and population growth accelerates across coastal regions, communities can no longer afford to rebuild using yesterday’s standards.
They must design for tomorrow’s realities.
Expected to house more than 50,000 residents at full buildout, Babcock Ranch has attracted worldwide attention not simply because of its approximately 800-acre solar energy installation, but because of how it performed when tested under real-world conditions.
When Hurricane Ian struck southwest Florida in September 2022 with sustained winds exceeding 100 miles per hour, the community emerged largely intact. Homes experienced minimal damage, underground utilities remained operational, residents were able to shelter safely in place, and the town even provided refuge for neighboring communities affected by the storm.
That level of performance was no accident.
It resulted from decades of intentional planning.
Recently, I had the opportunity to visit Babcock Ranch alongside Amanda Staerker, one of the project’s early land planners. Walking the community reinforced an important lesson: resilience is not created by a single technology or building material. It is the product of thousands of interconnected planning decisions.
From the outset, the development incorporated Florida Green Building standards, underground utility infrastructure, native landscaping, extensive stormwater management, preserved wetlands, and a master plan that works with the natural environment rather than against it.
Perhaps most importantly, Babcock Ranch demonstrates that sustainability and economics are not competing objectives.
They reinforce one another.
Resilient communities experience less physical damage, shorter business interruptions, lower long-term maintenance costs, greater insurance confidence, stronger investor interest, and higher long-term asset values. For developers, resilience is increasingly becoming one of the strongest drivers of financial performance.
As Syd Kitson, CEO of Babcock Ranch, observed in a recent Urban Land Institute article:
“Storm safety was absolutely at the top of our list… How could we convince people they could shelter in place? We knew if we did it right from the beginning, we could prove they could.”
That philosophy offers valuable lessons well beyond Florida.
Across the Caribbean, coastal communities face many of the same challenges: stronger storms, rising insurance costs, aging infrastructure, and growing demand for sustainable development. The principles demonstrated at Babcock Ranch—working with natural systems, preserving ecological assets, investing in resilient infrastructure, and planning for long-term adaptation—are directly applicable throughout the region.
At AG&T, we believe the future of real estate development lies at the intersection of resilience, sustainability, hospitality, and sound economics.
Building resilient communities is no longer simply about reducing environmental impact.
It is about protecting investments, strengthening local economies, preserving communities, and creating places capable of thriving for generations.
Resilience is no longer a feature.
It is the foundation of responsible development.
