Infinity Capital Partners joins with Proven REIT on new development
Caymanian private equity company, Infinity Capital Partners (ICP) is partnering with Proven REIT in a Joint Venture to develop close to an acre of land located directly on the canal at Omega Drive.
Proven REIT is the real estate investment and development arm of PIL, which focuses on both residential and commercial real estate in Jamaica and the wider Caribbean.
The development, located in Grand Harbour, will consist of 13 Townhomes featuring a mix of two- and three-bedroom units, ranging between 1,300 square feet and 1,600 square feet. The devlopment will have direct access to the North Sound, ideal for boat access to Rum Point, Starfish Point, and Kaibo, and of course proximity to the Grand Harbour Shopping Center.
ICP Principal David Stephens said, “This made perfect sense for us. Our market analysis revealed that Cayman needs more reasonably priced townhomes designed and built for couples and/or small families.”
This joint venture aligns with Proven Reit’s objective to expand within the region. The partnership with ICP marries insight and knowledge about the Caymanian real estate market with PREIT’s development expertise.
Proven REIT’s CEO Aisha Campbell says, “We are excited to work with ICP on this joint venture and to deliver a real estate solution for those looking for beauty and serenity.”
The team continues to plan and design the waterfront community and anticipates that the partnership will allow them to support the growth of Cayman’s live, work and play housing market.
The development is slated to go to market in November of 2020.