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JTL Capital buys Mexican resort

December 30, 2003

Dallas-based JTL Capital LLC has closed on its purchase of the Las Ventanas al Paraiso resort in Los Cabos, Mexico.

JTL, an investment group, bought the upscale property from a private partnership based in Mexico City. Dallas-based Rosewood Hotels & Resorts, the property's manager, will continue to manage the resort as part of a contract agreement with JTL.

Terms of the acquisition weren't disclosed. Tim Barton of JMJ Development represented the buyer and seller in the transaction. Rosewood opened Las Ventanas in July 1997. As part of the acquisition, JTL will invest additional capital in the resort to expand its spa and fitness center, guest library, espresso bar and retail area. JTL also plans to upgrade maintenance and employee facilities.

Rosewood's holdings include the Mansion on Turtle Creek and Hotel Crescent Court in Dallas.

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