The state of Elite Bellarena


By: Hector Garcia

Real Estate Professional

Is this project going down like many others around the Puerto Vallarta and Nuevo Vallarta area? There are many examples of great-looking projects that end up in dust; Harbor 171 is the latest that comes to mind. Endorsed by many respected people that worked endlessly to prevent the inevitable. Sure enough one day it happened: Government shutdown for one reason or another. Is Elite Bellarena going that same path?

Elite Bellarena has made things interesting, to say the least. Recently there were as many as 10 huge billboards put up on highway 200 claiming Elite Bellarena a fraud. Let me be clear, I am a Coldwell Banker real estate agent working in this project. While I do not know all that goes on regarding Elite Bellarena. I know enough to be sure that all is good and that the negative chatter people say about Elite Bellarena is just that…Negative chatter. Anybody can put up a big billboard. That is what happened with Elite Bellarena: A private citizen paid to put up negative material about Elite Bellarena. All due respect to all parties involved, Coldwell Banker is a well-known and respected global Real Estate company. We took this claim seriously. As soon as this accusation of fraud was made public Nancy Valiente, the sales director at the site, took all steps necessary to ensure we were within the law. She went as far as to remove the listing from Flexmls, the main platform used by most agents in the area. Brock Squire, Coldwell Banker La Costa´s Broker and NMS Capital were on top of the issue. In only a matter of days the issue was all cleared up and all huge billboards known as “espectaculares” were removed.

Every development has to clear its path for success. No doubt Harbor 171 will clear its path to a finished project that will help the industry in Puerto Vallarta. Elite Bellarena will do the same in Nuevo Vallarta. My experience in working with Oasis Bay RE to sell a much-unwanted project called Bay View Pitillal in El Pitillal, tells me that Elite Bellarena is heading in the right direction. Bay View Pitillal was much worse because it did not have all supporting documents completed initially. It had an unknown developer working his first semi-big project. I knew that it would get finished and meet all expectations by visiting the site almost daily with prospects that would soon walk away for something much better and more expensive. As an agent, you just know when a project will get completed or not.

What is happening at this Elite Bellarena site? Why is this project moving at such a slow pace?  

Let us get to the bottom of this; NMS Capital has only itself to blame for its shortcomings thus far. Also known as Nemesis Capital, the developer, has done a poor job in funneling its resources. Gustavo Tomé is head of Elite Bellarena and Felipe Tomé is his brother. One simple google search tells me that Gustavo Tome is a good businessman and well respected in the business community. Another simple google search tells me that Felipe Tomé, the brother, has the bad history. People confuse the two brothers. People say it is one and the same Tomé. Understandably, nobody wants to place their money in the hands of such a troubling dynamic. I have sold and lost that same sale for these reasons.

The current state of Elite Bellarena  

Elite Bellarena is on another level, with all due respect, we are not Bay View Pitillal and we are not shut down by the government like Harbor 171. However, Elite Bellarena is not acting like the big brand it wants to be. My gut feeling remains optimistic: Elite Bellarena will deliver! My sources indicate that NMS Capital will be financed by a bank starting in February 2020. It looks like only after the backing of a bank will Elite Bellarena be Elite.  

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This Post Has 2 Comments

  1. Rob Booth

    Hola Hector
    My name is Rob, i purchased a condo in the Elite Bellarena in March 2017 and was told it would be complete by Sept 2018 ? Our experience dealing with NMS Capital has been terrible at best, their way of dealing with Questions is to just ignore you ?? We have been trying to negotiate a new contract for over a year to no avail and now its at the point where they have just gone silent and will not respond to us. We are very worried and very stressed out as we have been carrying 2 mortgages and are on the verge of going broke as we planned to be generating rental income by Oct 2018 to pay the mortgage. The last completion date they gave us was Jan 2022 ? We had a dream of owning a condo in Mexico to eventually retire in the winter to, well that dream has become a nightmare (Nemesis Nightmare). The only way the Elite will loose its bad reputation is to finish it. Gustavo Tome is not a honest business man and does not care about anyone but himself, if you dig a little deeper you will see for yourself. Also I believe his brother is building the Mortima which is North of the Elite and it’s almost finished and it started well after the Elite. I really hope you are right and he will get the money and finish the Elite but im not very optimistic based on whats happened so far.
    Rob Booth

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