Koll Gets Mexican Bank Loan to Help Build Baja Resorts
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NEWPORT BEACH — Koll International, a unit of the big developer Koll Co., said it got a $55-million loan from a Mexican bank to help finance two resorts that the company is building at the tip of Mexico’s Baja Peninsula.
Koll will use the loan from Bancomext, the foreign trade bank of Mexico, to construct roads and utilities on its property near Cabo San Lucas.
Koll said it expects to invest more than $1 billion in the two upscale resorts, Palmilla and Cabo del Sol.
The Newport Beach-based company earlier announced that golfer Jack Nicklaus will design two courses at the resorts.
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