Nocturne Luxury Villas, Backed by Gladstone Investment Corporation, Announces Second in a Series of Investments in the Luxury Vacation Rental Sector with the Acquisition of St. Barth Properties

Rhea-AI Summary

Nocturne Luxury Villas has acquired St. Barth Properties, a leading villa rental manager in Saint Barthélemy, alongside its sister company, St. Barth Dream Vacations. This marks Nocturne's second investment in the luxury vacation rental sector, following its recent acquisition of Exceptional Stays. St. Barth Properties, established in 1989, offers over 250 luxury properties. CEO Scott Simmons expressed enthusiasm for the collaboration, highlighting the dedication to guest satisfaction. The acquisition aims to expand Nocturne's luxury rental platform, leveraging the strengths of both companies.

Positive

• Acquisition of St. Barth Properties enhances Nocturne's luxury vacation rental portfolio.
• Access to over 250 luxury properties in a premier market.
• Established brand with a strong reputation in luxury rentals.

Negative

• None.

MCLEAN, Va., July 27, 2021 /PRNewswire/ -- Nocturne Luxury Villas ("Nocturne" or the "Company"), together with Gladstone Investment Corporation (NASDAQ: GAIN) ("Gladstone Investment"), acquired St. Barth Properties, Inc., a leading villa rental manager on the island of Saint Barthélemy in the French West Indies, and its sister company, St. Barth Dream Vacations (DBA St. Barth Properties – St. Barth), based in Gustavia, SBH. This investment is the second in as many months by Nocturne who last month announced its acquisition of Exceptional Stays based in Telluride, CO.

St. Barth Properties was founded in 1989 by Peg Walsh, who is recognized by Condé Nast Traveler as the definitive expert for St. Barth, and represents more than 250 luxury properties for rent on the iconic, eponymous island known as the French Riviera of the Caribbean. A pioneer in the vacation rental industry, Ms. Walsh was joined in the business in 1992 by her son, Tom Smyth, who will become President of St. Barth Properties as well as a senior member of the Nocturne executive management team.

Scott Simmons, Nocturne Chief Executive Officer, commented: "I have known and admired Peg and Tom for many years. They've assembled a dynamic team and built a great business, fueled by a passion for the island they love and a dedication to five-star hospitality, as well as exceeding guest and homeowner expectations.  We're thrilled to now be working with them."

Tom Smyth, President of St. Barth Properties, added: "Peg and I are proud of our team and the business they've helped us create and we believe that Nocturne is the ideal new home for St. Barth Properties. We share their vision and look forward to being part of it."

Peter Roushdy, Executive Vice President and Managing Director of Gladstone Investment's investment adviser, observed: "There are no two better markets from which to launch the Nocturne luxury villa rental platform than St. Barth and Telluride and there are no two better companies in these markets than St. Barth Properties and Exceptional Stays."

Gladstone Investment partnered with Aureus Capital and members of the Company's executive management in the formation of Nocturne, a platform for acquiring and integrating luxury vacation rental management companies. Nocturne was founded by Scott Simmons, Marshall Calder and Carl Colletti, Nocturne's Chief Executive Officer, President and Chief Financial Officer, respectively.

For additional information, visit: www.nocturneluxuryvillas.com or contact the Company at: info@nocturneluxuryvillas.com

Media Contact:
Stephanie Loeber
Loeber Communications
E: Stephanie@loebercommunications.com 
P:  617.510.0577

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SOURCE Nocturne Luxury Villas

FAQ

What was the purpose of Nocturne acquiring St. Barth Properties?

The acquisition aims to expand Nocturne's luxury vacation rental platform.

When did Nocturne acquire St. Barth Properties?

The acquisition was announced on July 27, 2021.

How does the acquisition of St. Barth Properties impact Gladstone Investment Corporation (GAIN)?

The acquisition strengthens GAIN's investment portfolio in the luxury vacation rental sector.

What is the significance of the St. Barth Properties acquisition for Nocturne?

This acquisition enhances Nocturne's presence in the luxury rental market, providing access to a well-established brand.