Brookfield has completed a $1.93-billion refinancing of Atlantis Paradise Island, its luxury resort in the Bahamas. Bloomberg News reported that Citigroup led the financing.

Over the past five years, Brookfield has invested more than $260 million in capital improvements at the property and plans to invest $475 million more, including a full renovation of the Cove hotel. The company is also exploring development opportunities across 46 acres of land adjacent to the Atlantis complex and evaluating plans to redevelop the former Beach Tower. 

“This refinancing positions us to continue enhancing the guest experience, creating jobs, and ensuring that Atlantis remains a vital contributor to the Bahamian economy for years to come,” said Brian Kingston, executive chair of Brookfield’s real estate business. “We believe strongly in the future of luxury hospitality, and Atlantis exemplifies our strategy of owning and operating iconic, market-leading properties in premier global destinations.” 

Atlantis Paradise Island today features more than 3,800 keys across five distinct lodging options, 40-plus restaurants and bars, a marina, an 18-hole championship golf course, one of the world’s largest open-air marine habitats and a 141-acre water park.