The sale of the British Colonial Hilton Hotel property in Downtown Nassau was confirmed at an official signing ceremony in the hotel on October 27.
The property is being purchased by China Construction America Inc. (CCA) from its present owners based in Canada and Switzerland. CCA was represented in the transaction by Cross & Mosko Real Estate & Development Co. Ltd., the Bahamian real estate brokerage company based in Nassau.
The transaction negotiations included some complex elements and took over a year from initial discussions to signing. This included establishing a plan for development of the presently undeveloped land to the west of the hotel. The acquisition and further development of the hotel is the initial step in major plans by CCA to make vast improvements in the infrastructure of the downtown area extending eastwards as far as Potter's Cay. These will be of great benefit to local residents as well as to Bahamas tourism. The plans include a harbor front boardwalk, marinas, high end hotels, condominiums, shops, restaurants, bars and pleasant green space.
Daniel Liu, senior vice president of CCA, was the leader of this project for the purchasers. Kevin Cross, of Cross & Mosko, said, "We were very fortunate to have the opportunity to work with Daniel Liu on this acquisition and we look forward to assisting CCA in the redevelopment project, which is much needed for some depressed locations of the downtown area.
CCA is a subsidiary of China State Construction Engineering Corporation (CSCEC), which is the largest construction company in the world with 2013 sales of $116 billion. It ranks #52 of Fortune 500 Companies. However, this is the first hotel acquisition in Caribbean countries by CSCEC. It is part of CCA's long term investment strategy in the Bahamas.
Cross and Mosko Real Estate and Development Company Limited was founded in 2011 and focuses on high value real estate sales (including private islands), appraisals and development projects, with offices at Lyford Cay House.

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