lee chin yacht for sale

Michael Lee-Chin’s $300 million superyacht is a floating five star resort. One of the first black billionaires on the Forbes list, he once cleaned engine rooms on a cruise ship and now his 378 feet yacht has an IMAX cinema, a duplex owner’s suite, and two helipads.

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Lee-Chin selling yacht

Michael Lee-Chin is selling his Ahpo superyacht for US$355 million ($55.03 billion) as the Jamaican-Canadian billionaire continues to offload more of his assets.

The 377.6-foot superyacht was delivered in December 2021 after being built by German shipbuilder Lürssen. According to luxurylaunches.com , the asset has been listed for a US$55-million premium to the US$300-million purchase price. The yacht has a capacity for 16 passengers and has a crew of 36 people.

The sale of Lee-Chin’s yacht is one in a string of disposals to have taken place since the COVID-19 pandemic in March 2020. Lee-Chin, through AIC (Barbados) Limited, sold CVM Television Limited in September 2022 to Verticast Media Group at an undisclosed price. This was preceded by the sale of Reggae Beach, St Mary, to MJR Real Estate Holdings Limited which is managed by Barita Investments Limited. That 250-acre property was reportedly valued at US$50 million ($7.75 billion).

First Rock Real Estate Investments Limited disclosed to the Jamaica Stock Exchange last July that it was part of a consortium seeking to acquire both the property and operating entity Medical Associates Hospital and Medical Centre. Portland Holdings Limited lists Medical Associates as being an acquisition/investment in July 2006. It’s unknown if Lee-Chin has sold any other assets.

Lee-Chin has expressed interest in promoting nuclear technology following a memorandum of understanding with the Canadian Nuclear Laboratories in November 2022. This is based on the applications in medicine and energy production.

However, Lee-Chin’s asset sales also coincide with the lack of cashflow from his most prized Jamaican jewel, NCB Financial Group Limited (NCBFG), which has only paid a $0.50 dividend or $648.07 million since March 2020. While it has continued to grow its asset base to a historic $2.11 trillion or US$13.69 billion, its stock price has not fared as well since then. The stock which peaked at $249 on July 22, 2019 has since hit a new 52-week low of $72.01. That’s the lowest NCBFG has traded for since July 2017.

This has put pressure on different AIC and Portland entities that borrow against the NCBFG stock. An example can be with the Portland (Barbados) Limited US$5-million fixed rate secured notes issued in August 2021. The security attached to the notes was pledged ordinary shares of NCBFG — that is 1.50 times the outstanding principal. The term sheet referenced the issuer agreeing to place in reserve additional NCBFG shares, with the market value equating to 0.25 times.

This was at a time when NCBFG’s share price was trading around $133.15 and closed at $78.45 on Tuesday, a 41 per cent drop.

With no dividends paid by NCBFG since May 2021 there was no dividend income going to the interest reserve account held with the trustee. Tranche A of the secured notes had a tenure of three years, and five years for tranche B, with the interest rates on both notes fixed between 6.25 to 6.75 per cent.

This means that some related entities are likely to have been impacted by the absence of dividends, which used to be paid quarterly before the pandemic. NCBFG is currently strengthening its capital base to prepare for regulatory changes facing its core Jamaican bank and Trinidadian insurance arm.

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AHPO Yacht -The Amazing New $300 Million Superyacht

The AHPO yacht is a spectacular new superyacht built by Lurssen and delivered in 2021.

The popular Italian designer Nuvolari Lenard styles the exterior and interior of this beauty.

Accommodating up to 16 guests in 8 cabins the superyacht includes a variety of facilities including a dancefloor, movie theatre, beach club, gym and spa.

The 115.1 meter superyacht now ranks amongst the top 50 largest yachts in the world , just behind the Navtilvs.

AHPO Yacht Interior

The superyachts interior was envisioned and designed by Nuvolari Lenard.

AHPO Yacht Exterior

The exterior was also meticulously designed by Nuvolari Lenard.

Like most other yachts her size, she’s built with a strong steel and aluminum superstructure and hull with a sleek aerodynamic design.

The bottom of the hull features a unique gold trimming and the black highlights along the windows and back of the yacht offer a stunning contrast.

AHPO Yacht Accommodation

AHPO consists of 8 luxurious cabins that can house up to 16 guests comfortably.

The yacht can hold up to an incredible 36 staff members that are there at all times to fulfill guests needs and offer an unforgettable charter experience for guests.

Guests will never get bored onboard the AHPO superyacht with a plethora of toys and activities to choose from.

Guests have access to endless entertainment such as a dancefloor to party in style, and large cinema and a fun, vibrant beach club.

If guests want to have more of a relaxing time they can relax in the spa and beauty salon, as well as seek peace and quiet in the sauna.

Of course there’s also a gym so guests can keep fit and a swimming pool to keep cool on hot days.

AHPO has a variety of water toys on board, including a sailboat, Jet Skis and a WaveRunner.

If that’s not enough for you, AHPO also has waterskis, kayaks, windsurfing, a seabob and of course fishing gear.

AHPO Yacht Specifications

Featuring MTU engines, AHPO cruises along at a speed of 14 knots with a maximum speed of 20 knots.

She’s very stable when anchored with a full-displacement hull and at-anchor stabilizers, to offer guests a comfortable time aboard.

AHPO Yacht Price

AHPO sold for $300,000,000 USD in 2021 and has an annual running cost of $30 million.

She can be charted for a weekly cost of $2,720,000 plus expenses, when available.

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Jamaican\Canadian Billionaire Michael Lee-Chin Mega Yacht Sold for US$362 Million 

After announcing months ago that his luxurious yacht was up for sale, Michael Lee-Chin finally got an offer he did not let pass. Based on numerous reports, the AHPO mega yacht was sold for US$362 million, which equates to a US$62 million profit for the billionaire.

The buyer of the super yacht is Pro Hockey billionaire turned businessman Patrick Dovigi. Moran Yacht & Ship represented both the seller and the buyer on the sale of AHPO, which was arranged by both sides of the deal. US$355 million was the asking price for the Lürssen superyacht measuring 378 feet.

In addition to the vessel’s massive structure, it features many breathtaking amenities, including a gigantic IMAX cinema, a duplex owner’s suite, a Turkish Hammam, two helipads, and a winter garden.

The vessel can accommodate a large group of nearly twenty people with over 20 crew members. Aside from the eight staterooms on the yacht, it also has a large gym fully equipped for full-body exercises. The stunning superyacht was renamed Lady Jorgia following the completion of the brokerage deal. 

RELATED: Lee Chin’s Ahpo Superyacht Selling for US$355 Million

According to reports, Michael Lee-Chin purchased the  A hpo mega yacht in December 2021.

Months ago, it was revealed that the Jamaican\Canadian billionaire was looking to auction off some of his prized possessions.

RELATED: Lee Chin now valued at US$1.5 Billion by Forbes

RELATED: Michael Lee-Chin Shares Message Encouraging Risk-Taking to Achieve Success – See Post

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Michael Lee-Chin, one of the world’s Black billionaires, sells megayacht for $362 million

Lee-Chin has also put his luxurious mansion, Coconut Walk Private Estate, up for sale for $35 million.

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Michael Lee-Chin, a Jamaican-Canadian billionaire and philanthropist , has reportedly sold his megayacht, AHPO, to professional hockey player turned billionaire businessman Patrick Dovigi for a whopping $362 million.

The sale of the 378-feet Lurssen superyacht, built as a replacement for the Quattroelle, has brought the Jamaican-Canadian businessman a gross profit of $62 million from the latest transaction, excluding the costs that were incurred during the time that he owned the yacht.

Michael Lee-Chin has been on a selling spree since March 2020

Lee-Chin purchased the six-deck luxury vessel for $300 million in 2021 but has been on a selling spree since March 2020. In September 2022, he sold CVM Television Limited to Verticast Media Group for an unspecified amount.

He also sold his 250-acre Reggae Beach property in St. Mary to MJR Real Estate Holdings Limited for around $50 million.

The Jamaican-Canadian billionaire has also put his luxurious mansion, Coconut Walk Private Estate, up for sale for $35 million . The estate boasts a stunning beachfront location and sits on almost 75,000 square feet of prime real estate.

Lee-Chin purchased the estate for $12.5 million in 2018, and if sold at the present asking price, he will pocket a profit of almost $22.5 million.

Michael Lee-Chin’s net worth has decreased by $600 million since 2020

Despite the pandemic’s adverse effects on the global economy, Lee-Chin still ranks among the wealthiest black billionaires worldwide.

According to Forbes , with a fortune of $1.4 billion, he holds the 2,054th position on the list of the world’s wealthiest individuals.

The Jamaican-Canadian billionaire accumulated his $1.4 billion fortune through investments in financial companies such as National Commercial Bank Jamaica and AIC Limited.

The sale of the AHPO superyacht to Dovigi demonstrates Lee-Chin’s business acumen in the luxury scene as he continues to dispose of some of his assets.

Given the uncertainties surrounding the global economy, his decision to sell off his assets could be a strategic move. However, his net worth has decreased by $600 million since 2020, going from $2 billion to $1.4 billion.

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