SAN JUAN -- The Ritz-Carlton San Juan Hotel, Spa & Casino in
the Isla Verde section here is under new ownership, following
endorsement in U.S. Bankruptcy Court in Florida for RECP San Juan
Investors LLC to become the resort's owner.
RECP is a subsidiary of Donaldson, Lufkin & Jenrette Real
Estate Capital Partners and a subsidiary of Credit Suisse First
Boston.
Mark Stevenson, general manager of the 416-room Ritz-Carlton,
said renovations and design changes, which had been scaled back by
former owner Green Isle, will now move forward.
Terms of the new ownership's purchase were not immediately
available; PricewaterhouseCoopers appraised the property at $87
million.