← News Wed Nov 19, 2014 - 11:06 am - 0 comments

Pan-Jam And Partner Buying Oceana Hotel

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The Urban Development Corporation (UDC) has inked a deal for the sale of the Oceana Hotel to a Canadian/Jamaican consortium for $385 million.

The transaction is expected to close in 60 days.

Oceana is being sold to the Downing Street Group for “primary use as a hotel”, but the new owners will also be renting space to retail and commercial clients.

The partners in the consortium are Downing Street Partners Realty and Jamaica Property Company Limited, a member of Pan-Jamaican Investment Trust Limited.

Published in the Gleaner
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