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GFG Securities Closes $48.5 Million Term Loan for a Premier Cancun Hotel

Cancun, Mexico - GFG Securities, LLC (“GFG” or “GFG Securities”) is pleased to announce that it has secured a USD $48.5 million, 15-year senior secured loan facility (the "Loan"). The Loan proceeds will be utilized to finance the acquisition of the 437-key ME Cancun resort in Cancun, Mexico, now owned by a Promotora Amenaceres del Caribe 1, S. de R.L. de C.V. (“Promotora”).

Constructed in 1990 as Meliá Turquesa, the hotel established itself as a four-diamond, award-winning resort property. After the effects of Hurricane Wilma, the hotel underwent a complete renovation in 2005 and re-opened in 2007 as a ME by Meliá under a European Plan operating model. After underperforming the market and enduring the economic downturn that began in 2008 and the flu epidemic in 2009, Meliá Hotels International looked to sell the asset, but desired to maintain the operating contract. In 2012, Promotora acquired the assets and reengaged Meliá to operate the hotel under an all-inclusive model.

In 2012, Promotora sought to finance the acquisition in a short timeframe by actively engaging GFG Securities. GFG was able to use its expertise to gain interest from many prominent lenders during a tight credit period in the short allotted time. After a process to get the most favorable terms for Promotora, GFG closed the US$48.5 million term loan with a prominent lender. GFG was able to negotiate better terms than initially given by the financial institution, giving Promotora the comfort to close the transaction. The proceeds provided Promotora the resources to finance their acquisition in the short time period to fulfill their acquisition obligations.

Daniel Araf, Promotora CEO, said, “GFG was crutial in making this acquisition successful. Their professionalism and experience allowed for us to achieve the financing goal in a short time frame.”

“GFG is pleased to use its expertise to raise financing during a tight credit market at competitive terms to allow Promotora to reach its goals in regards to financing the hotel acquisition in Cancun,” said Eduardo Gruener, Partner at GFG Securities.

About GFG Securities, LLC

GFG Securities, LLC (a member of Financial Industry Regulatory Authority “FINRA”), is a boutique financial firm that assists privately owned businesses with domestic and international investment banking services including equity and debt capital raising, mergers & acquisitions, and strategic advisory services. Headquartered in Miami, FL with a satellite office in San Diego, CA, the GFG Securities team has a proven track record, with ample contacts and relationships throughout the region, allowing them to effectively execute local and cross border transactions with the client intimacy of a boutique. The firm focuses on U.S., Canadian, and Latin American family-owned companies, with average transaction values ranging US$50 million to US$500 million. Visit for company information.

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