Pledged as collateral for the mortgages are the Atlantis in the Bahamas, apartial interest in Kerzner’s One & Only resort in Los Cabos, Mexico, and 76 acres of undeveloped land near Atlantis. Every time you visit, you are urged to invest in a home of your own there. Analysts anticipate that Kerzner can’t refinance the loans for the full $2.6 billion because the collateral’s value now is less than that amount.
We all hope these beautiful properties can succeed and will not fall into the same mortgage problems that are facing people all over the world. Can Paradise be saved?