Trump Ocean Club, located in the Punta Pacifica area of Panama City, has been sold for $23.7 million to a new owner, whose name has not been disclosed.

The Notice of a Relevant Fact issued by the Panamanian National Stock Exchange (Panabolsa) indicates that Newland International Properties Corp, the developer of the hotel complex, signed a sale contract consisting of the transfer of 202 hotel units and 12 units of hotel amenities, for a price of $23.7 million.

It is expected that the sale transaction will be completed and the units transferred to the new owner during July of this year. 

See press release issued by Panabolsa (In Spanish).