02.06.2007
February 6, 2007 — InvestProperty Group has successfully completed its final closing for the purchase of its flagship property located at 1647 Montevideo, in Buenos Aires, Argentina. The stately 5-story mansion is located on a lovely tree-lined street in Recoleta the most desirable neighborhood in Buenos Aires. Originally built in 1912, the property is in the heart of the embassy and luxury hotel district. Gerhard Heusch, the property’s architect partner, has finalized plans for the development of the premium-luxury boutique hotel including an exclusive classic French restaurant designed and directed in conjunction with our partner and master chef Jean-Jacques Carquillat. This certainly may prove to be the best French restaurant in Buenos Aires. Scott L. Mathis, Founder and President said, " Since we initially contracted the property and locked in the purchase price, the price of real estate in Buenos Aires has been booming. Construction is scheduled to start on February 8, 2007 with the grand opening in the first quarter of 2008.”