Rosewood San Miguel de Allende Approved for $88 Million Line of Credit

Rosewood San Miguel de Allende, a community that encompasses a 67-room resort and the Artesana Rosewood Residences, is the recipient of an $88 million loan from Mexico’s largest bank, Banamex. It is the single largest loan in real estate in San Miguel de Allende, and in the history of the state of Guanajuato.

San Miguel de Allende, Mexico –(PR.com)– Rosewood San Miguel de Allende, a community that encompasses a 67-room resort and the Artesana Rosewood Residences, is the recipient of an $88 million loan from Mexico’s largest bank, Banamex. It is the single largest loan in real estate in San Miguel de Allende, and in the history of the state of Guanajuato.

“The sheer size of the Banamex loan is significant,” said Richard York, director of sales for Artesana Rosewood Residences. “But what’s more significant is that it was granted to us at a time when more than 180 real estate development projects in Mexico were being shut down. It is a great vote of confidence from Banamex that speaks volumes about the caliber of our project.”

Not only has the Rosewood development invested in San Miguel de Allende real estate, but it also has invested in the local community. It is the largest single venture in San Miguel since the post-World War II era and employees 300 to 900 construction workers daily. The Rosewood San Miguel de Allende resort also partnered with local Via Orgánica, an organization supported by the municipality, to grow organic vegetables and herbs onsite that will supply the hotel restaurants. Guests will have the opportunity to visit these plantations and learn about the organic process. Via Orgánica is an organization that works to minimize environmental pollution and elevate education on nutrition.

Artesana Rosewood Residences is nearing completion on the first phase of construction with 29 custom homes and the Rosewood San Miguel de Allende resort opening in early 2011.
About Artesana Rosewood Residences®

Artesana Rosewood Residences is a $250 million project in the heart of the historic downtown of San Miguel de Allende in Central Mexico. In addition to the residences, the Artesana Rosewood community also includes the 67-room, exclusive Rosewood San Miguel de Allende® resort where Artesana residents have access to a world-class spa and fitness center, 24-hour concierge services, an array of exquisite dining venues, and more. Artesana Rosewood Residences integrate the past and present of San Miguel de Allende into its design while still offering exclusive modern-day conveniences. Homes replicate the Spanish Colonial architecture found in San Miguel de Allende’s centro and the community reflects the timeless way of life in a town known for being an UNESCO World Heritage Site with centuries-old art and tradition. For more, visit http://www.artesanasanmiguel.com/.

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