Monthly Archives: February 2012

The True Capcana Story is Reaching the Media

You can only keep a secret from the media for so long.  Many of the founders are from the finest families in Santo Domingo.  The financial crisis at Capcana will have a significant impact on their investments.

Don’t be uninformed.  Click on thishttp://www.dominicancentral.com/newsarticle/cap_cana_dream_villas_left_to_rot/ link.

 

 

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Is the entire CapCana Development in a Free Fall?

Capcana’s Green Village financial collapse may only be a symptom of the large scale failure of the Capcana development.  During my visit there were only two restaurants and one swim suit shop open at the marina.  The marina is a ghost town.  There are numerous stores that remain boarded up, as a result of the start up businesses not making any money.  A quick look at the beach club easily demonstrates the lack of maintenance, repainting, replacement, and cleaning necessary to maintain it as a first class facility.  The second Jack Nicklaus golf course is going to seed, with no restart date in sight.  The plans for first class hotel facilities and casinos also have no start dates.  Construction on private residences has stopped leaving huge carcasses.  When I played golf at Punta Espada they only had 38 golfers on that day. 

When the Capcana owners say they have no money for completion of the Green Village project, the real question is:  Do they have any financial resources to complete anything in Capcana?  If you are a bond holder would you trust the current Capcana ownership to keep their word based on their previous performance and their lack of management abilities.

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Follow the Money! $134 Million Must Lead Somewhere

Lets check my math – 80 Bunglows at $800K plus 160 villas at $440K equals $134 million dollars.  YES, Capcana built two offices that they didn’t need.  Partially built 240 villas (without finishing many), instatlled underground utilities throughout the Green Village, but shouldn’t there be lots of money left?  I am told that the owners and the Founders remain very, very, very rich, and the owners received financing from the bond holders.

The only thing bright at Green Village is the sunshine

This ghost town jungle is not the paradise promised or envisioned

Did You Buy in Capcana’s Green Village and Get Screwed?

We did.  Then when we try to visit and ask for special “owner” rates to see the status of our property we are quoted rates that are readily available on the internet.