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Randall Bell
June 17, 2022
Page 14

A DAMAGED CUBAN CHURCH SITS ON TOP-QUALITY TOURISM REAL ESTATE

Randall Bell
June 17, 2022
Page 14

Ramon Espinosa / AP Images

On May 6th, an explosion in Havana, Cuba killed approximately 45 people and damaged multiple buildings including a Calvary Baptist Church. The Cuban government controls gas utilities, and the military owns the hotel, where the explosion occurred. The Calvary Baptist Church is a historic religious building that sits at the center of Cuba’s tourism industry, on Old Havana real estate. The building is considered part of Cuba’s national heritage. This means that any modifications must be approved by the government, and the exterior façade must be maintained.

Tagged: real estate damage, complex valuation

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