In a show of financial precision, private equity firms Beach Point Capital Management LP and Sparta Capital Management Ltd. on Wednesday secured a $190 million loan to bolster Cipriani’s luxury expansion. Sidley Austin LLP advised Beach Point, while Cipriani was guided by Paul Hastings LLP on the transaction.
The funds will fuel the construction of The Cipriani Resort, Residences and Casino Punta del Este in Uruguay—an oceanfront project with a price tag of $500 million.
Resort Rising from the Shores: Uruguay’s Crown Jewel
In its first development phase, the resort will feature 64 lavish suites, with another 120 slated for future phases. The facility will host Cipriani’s inaugural casino, complemented by an exclusive beach club and high-end boutique retail space, according to the statement.
“This financing will accelerate the global expansion of Cipriani’s footprint,” said CEO Giuseppe Cipriani. He praised Beach Point’s “sector expertise, ingenuity and collaborative approach,” as essential to completing the project on time for next year’s preview season.
