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Showing posts from August, 2017

Bondholders sell majority of units at Trump condo hotel in Panama

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Bondholders sell majority of units at Trump condo hotel in Panama
(Panama Business News ). Ithaca Capital Partners, which has a Miami office, acquired 202 of the 369 units for an undisclosed price Bondholders with delinquent debt on the 70-story Trump International Hotel, Panama, sold most of the units at the condo hotel, a high-rise landmark in Panama’s capital city.
Investment firm Ithaca Capital Partners paid an undisclosed price for 202 of the 369 units at the Panama City property, plus the condo hotel’s three restaurants and its 30,000-square-foot conference center.
Orestes Fintiklis, a Miami-based director of Ithaca, told TRD in a phone interview Friday that the transaction was “an arrangement” agreed upon by the bondholders, equity holder Newland International, and hotel operator Trump International.
“The bonds have been non-performing for about two years,” Fintiklis said. The Panama City hotel opened in 2011.
Canal Bank provided debt financing for the acquisition by Ithaca, which is…

Attenza DFA targets success at Tocumen following win of duty free contract.

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Attenza DFA targets success at Tocumen following win of duty free contract.
(Panama Business News). Motta Internacional’s retail fascia Attenza Duty Free will operate one of the duty free contracts at Panama Tocumen Airport.
Motta Internacional has vowed strong returns from its new Attenza Duty Free concession at Panama’s Tocumen International Airport after securing one of the three 10-year contracts in a competitive tender.
As reported earlier today, Duty Free Americas (DFA) snapped up two of the three 700sq m retail spaces at the airport in a deal worth $288m to the airport in concession fees over the lease period.
Reacting to the result, Motta Internacional CEO Erasmo Orillac said: “We placed what we considered a competitive bid based on the knowledge we have of the market; of course we would have loved to have won two concessions, but we will make the concession of our block a successful operation.”
Attenza Duty Free will pay a minimum monthly guarantee of $675,844 for the contract. Ba…

OrthAlign, Inc. Announces Distribution Partnership with Ortosistemas S.A. and First KneeAlign Cases for TKA in Panama

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OrthAlign, Inc. Announces Distribution Partnership with Ortosistemas S.A. and First KneeAlign Cases for TKA in Panama
(Panama Business News). OrthAlign, Inc., a privately held U.S.-based medical device and technology company providing orthopedic surgeons with advanced precision technologies, announced today a distribution partnership with Ortosistemas S.A. and the first set of KneeAlign® cases successfully completed for total knee arthroplasty (TKA) in the country of Panama.
These cases were completed by Panama City-based orthopaedic surgeon Edmundo Ford, MD of Centro de Especialidades Ortopedicas at Hospital San Fernando and continue to demonstrate the rapid adoption of OrthAlign’s handheld precision technologies, by surgeons throughout the world (the technology is now utilized in over 45 countries).
“KneeAlign is easy, simple, and reliable,” said Dr. Ford. “I’m happy to know that going forward, my total knees no longer are subject to human error. Our patients will be happy to know that…

Red Frog Beach Island Resort & Spa Debuts Affordable New Condominiums in Panama

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Red Frog Beach Island Resort & Spa Debuts Affordable New Condominiums in Panama
(Panama Business News). Red Frog Beach Island Resort & Spa, Panama’s award-winning island resort in Bocas del Toro, Panama, recently announced three new upscale condominium designs to their collection of luxury residences: The Capitana, The Boutique and the Solare. The three additions to the Red Frog Beach community offer sleek and refined layouts that all feature spectacular, unspoiled views of the turquoise blue Caribbean Sea. Home owners will have access to world-class beaches, adventure experiences, water sports, wildlife, and more.
Embracing a smaller architectural design that offers an island lifestyle at a fraction of the cost compared to other Caribbean vacation home options, these new floor plans range in size from 646 square feet to nearly 2,000. These upscale yet affordable condos will feature energy-efficient smart technology, an infinity-edge pool with stunning views and dramatic landsca…