Delphos is assisting a Miami-based developer in securing and structuring debt financing for the construction and development of a sustainable luxury resort in the province of Bocas del Toro, Panama. The 118-key will be commercialized under an award-winning boutique hotel brand. Phase I of the project which includes the hotel and related infrastructure with the total cost of approximately $98 million, will be financed with a combination of sponsor equity, senior debt from IDB Invest and CIFI, and subordinated debt from CIFI. Phase II of the project includes up to 77 residences (including over water bungalows), a beach club, marina, among other tourism infrastructure. The project is expected to attract new visitors to the Bocas del Toro area resulting in a number of developmental benefits to the local economy, including job creation and private sector development.