Paulson & Company, a seller of golf properties earlier this year, has become a buyer again.
The New York-based hedge fund operator has acquired a majority interest in the Bahia Beach resort community on Puerto Rico’s northeastern coast. Bahia Beach, which occupies 483 acres in the town of Rio Grande, features houses, a St. Regis hotel and an 18-hole, Robert Trent Jones, Jr.-designed golf course. Paulson’s investment will enable Bahia Beach to continue developing residential real estate and adding amenities.
This spring, a bankrupt entity controlled by Paulson sold the Doral resort in Miami, Florida to Donald Trump and three properties in La Quinta, California, among them PGA West and La Quinta Resort, to an investment group controlled by Singapore’s government.