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San Juan Development Group
Federico Stubbe Jr. leads San Juan Development Group, the family office developing Puerto Rico's luxury hospitality and residential real estate.
San Juan Development Group
San Juan Development Group operates as the family office and investment arm for the Stubbe family, with roots in Puerto Rico's real estate and hospitality sectors. Under the direction of Federico Stubbe Jr., the group has concentrated on master-planned development and opportunistic land acquisition within the San Juan metropolitan area. The family's known holdings span luxury hotel assets, high-end residential communities, and strategic undeveloped parcels positioned for long-term appreciation. One of their most recognized projects is the Dorado Beach, a Ritz-Carlton Reserve, developed on a historic Rockefeller-era estate, anchoring the family's presence in ultra-luxury Caribbean hospitality. The group's investment posture is deeply local and asset-heavy. San Juan Development Group typically retains long-term ownership and operational control of developed assets, contrasting with merchant-development models that seek rapid sell-down. Asset-class exposure centers on hospitality, residential, and mixed-use real estate. In the past decade, the group has participated in repositioning distressed golf and resort properties into managed luxury communities. Known co-investors and operators in their orbit include the Ritz-Carlton brand and St. Regis, both within the Marriott International umbrella, which have flagged their properties on the island. Team size and total deployment are not publicly disclosed. The group maintains its primary base in San Juan, Puerto Rico. In recent years, the family's activities have involved navigating post-Hurricane Maria reconstruction dynamics and Puerto Rico's Act 60 tax incentive program, which has attracted external capital and elevated competition for prime real estate. Philanthropic structures associated with the Stubbe family, including the Stubbe Family Foundation, focus on education and community resilience on the island, though formal separation from the development entity is not detailed in public records. Structurally, San Juan Development Group functions more as an integrated owner-operator than a traditional single-family office allocating to third-party funds. The firm's decision-making sits with the Stubbe family principal, allowing deal execution without external LP timelines. This patient-capital posture, combined with multigenerational land holdings in a supply-constrained island market, creates a structural barrier to replication by offshore institutional developers entering Puerto Rico.
General information
Firm type
Single Family Office
Year founded
—
AUM
Undisclosed
Location
Region
North America
Country
United States
City
San Juan
Corporate office
San Juan, Puerto Rico, United States
Principals
Federico Stubbe Jr.
Principal
Sector focus
Frequently asked questions
What is San Juan Development Group's primary investment focus?
The firm focuses on large-scale luxury real estate development and hospitality in Puerto Rico. Its primary activity is the acquisition, development, and long-term operation of luxury hotel and residential properties within the San Juan metropolitan corridor, notably including the Dorado Beach, a Ritz-Carlton Reserve.
Who makes investment decisions at the firm?
Federico Stubbe Jr. is the principal directing the group's investment strategy. The family operates with a concentrated, single-decision-maker model, allowing quick execution on complex real estate transactions without external partner approval layers.
Does the firm invest outside Puerto Rico?
The firm's known investments are almost exclusively concentrated in Puerto Rico, specifically in the San Juan metropolitan area and the northern coastal corridor. The development strategy relies on deep local land-banking knowledge and long-standing operational relationships on the island.
Does San Juan Development Group operate as a traditional family office allocating to funds?
No, the firm operates as a direct, integrated owner-operator focused on property development and management. It does not publicly behave as an allocator to external private equity, hedge fund, or venture capital funds, distinguishing it from standard multi-asset family offices.
What is the group's relationship with Marriott International?
San Juan Development Group has developed properties flagged under Marriott's luxury brands, including the Ritz-Carlton Reserve at Dorado Beach and previously the St. Regis Bahia Beach. The family acts as the real estate owner and developer, with Marriott operating the hotel assets under long-term management agreements.
Is there a philanthropic entity associated with the family?
Yes, the Stubbe Family Foundation exists as a charitable vehicle focusing on education, community development, and disaster resilience in Puerto Rico. The foundation's governance structure and degree of separation from the development business are not detailed in public disclosures.
How does Puerto Rico's Act 60 tax regime affect the firm's operations?
While San Juan Development Group was established long before Act 60, the incentive program has increased demand for luxury property on the island. This has likely benefited the value of the group's existing holdings, though the group itself does not market services to incoming beneficiaries of the tax decree.
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