Grand Lucayan Resort Complex for Sale in Sealed Bid Auction

Assets Can Be Sold in Whole or in Parts; No Reserve Price

FREEPORT, Bahamas, March 15, 2016 /PRNewswire/ -- HVS Capital Corp. today announced that the Grand Lucayan Resort complex is being sold in a Sealed Bid Auction. The 409-acre resort is the largest on Grand Bahama Island and the third largest in The Bahamas. The owner, a subsidiary of Hong Kong-based Cheung Kong Property Holdings Limited, has engaged HVS Capital Corp. to act as advisor in the sale. The seller's preference is to sell the Grand Lucayan Resort complex as a single transaction. However, bids for individual assets will be considered. There is no reserve price. Additionally, seller-provided purchase-money financing may be available to appropriate bidders. The deadline for submitting bids is June 10, 2016.

About PR Newswire PR Newswire is the premier global provider of news release distribution and multimedia platforms that enable marketers, public relations officers and investor relations professionals to engage with their key audiences: businesses and consumers, the media, and investors.