Grace Retail and Residences Unveils Exclusive Financing Partnership with CIBC FirstCaribbean
- Vivian Tyson, NewslineTCI Editor
- Jun 22
- 3 min read
Grace Retail and Residences, in partnership with Christie's Turks and Caicos International Real Estate and CIBC FirstCaribbean, officially launched an exclusive financing program on Wednesday aimed at making investment property ownership more accessible to residents and investors.
The launch event was held at the offices of Christie's Turks and Caicos International Real Estate at One Season Plaza in Grace Bay, Providenciales, where real estate professionals, prospective buyers and banking representatives gathered to learn about the development and the special financing arrangements being offered.
Walter Gardiner, who addressed attendees at the event, described the collaboration as a "dream team" partnership between Grace Retail and Residences, Christie's Turks and Caicos International Real Estate and CIBC FirstCaribbean.
Gardiner highlighted the advantages of the mixed-use development, which is located in the heart of Grace Bay and offers condominium ownership opportunities alongside retail spaces and upscale amenities, including a rooftop swimming pool, fitness centre and easy access to nearby shops and restaurants.
He explained that the project was specifically designed to maximize rental returns for owners, with a strong focus on studio units that have historically generated some of the highest rental yields while carrying lower maintenance costs.
"The development consists primarily of studios, which has historically proven to be the greatest income generator, and because of their size, they are less expensive to maintain," Gardiner said.
He noted that professional property management services are built into the development model, allowing owners to earn rental income without the challenges typically associated with managing short-term rental properties.
According to Gardiner, the development also features one of the lowest revenue-sharing arrangements with property management, enabling owners to retain a larger share of rental earnings.
A major highlight of the event was the announcement of an exclusive financing package developed through discussions between the project partners and CIBC FirstCaribbean.
Darian Watts, Head of Personal and Business Banking at CIBC FirstCaribbean, outlined the details of the financing offer.
"We're willing to finance up to 80 percent of the cost of each unit," Watts told attendees. "On top of that, we're waiving 50 percent of our commitment fee, and we're also financing valuation reports up to $1,500."
Watts said the bank recognized the project's potential and viewed it as an opportunity to support greater participation in the Turks and Caicos Islands' thriving real estate market.
"I mean, the development is right in the heart of Grace Bay, right in the heart of TCI. It's a wonderful opportunity, and we just could not pass the opportunity to be a part of this amazing project," he said.
He also promoted what he described as highly competitive fixed interest rates and pledged a streamlined approval process to help investors secure financing quickly.
The bank introduced a dedicated team of relationship managers who will work directly with clients throughout the application and approval process.
Gardiner welcomed the partnership as an important step toward expanding access to real estate investment opportunities for residents and long-term workers in the Turks and Caicos Islands.
"I'm hoping today that this is a springboard for other banks to follow suit and offer opportunities whereby the local population can take advantage of this development that's going on here," he said.
Representatives of Christie's Turks and Caicos International Real Estate also encouraged real estate agents, investors and prospective homeowners to take advantage of the financing package and explore the development through guided tours. They noted that condominium units remain available for purchase, while some retail spaces are still available for lease.
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