Luxury real estate brokerage the Corcoran Group has expanded its Caribbean footprint with a new affiliate in the Cayman Islands, the company announced on Tuesday.

The firm previously known as Prime Locations Cayman will now operate under the Corcoran brand as Corcoran Cayman Islands and will be owned and led by Paul Young. Corcoran Group currently has Caribbean affiliates in St. Barth, Puerto Rico and the Bahamas.

“Our presence in the Caribbean is extremely important as we continue to grow our global footprint and this arrival into the Cayman Islands is no exception,” Pamela Liebman, president and CEO of the Corcoran Group, said in a statement. “The importance that Paul and his team have placed on teamwork and a tight-knit working environment are invaluable and perfectly in-line with our values at Corcoran. I’m pleased to welcome Corcoran Cayman Islands to our robust network and I’m confident that they will help us attract more U.S.-based buyers to the region.”

The Cayman Islands, with their attractive weather and popularity among Americans, made an ideal location for the brokerage’s continued expansion efforts. The British territory in the western Caribbean made up of three distinct islands is said to be the birthplace of recreational diving in the region, and is known for beautiful beaches, various scuba recreational activities and world-class deep sea fishing.

Young, who started his real estate career in the 1980s, founded Prime Locations Cayman in 2016 on Grand Cayman. Originally from Canada, he has lived in a number of waterfront markets, including in California, Bermuda and now Cayman. In addition, Young is the sole shareholder and a member of the Cayman Islands Real Estate Brokers Association (CIREBA) since 2002.

Young has worked with a number of notable developers in the area, including Dart and Ritz Carlton.

Paul Young | Credit: Prime Locations Cayman

“We are a company that operates on three important principles: product knowledge, communication and follow-through,” Young said in a statement. “These cornerstones ultimately translate into a very positive, trusting experience for our clients. The Cayman luxury property market, as well as our high quality of life and infrastructure, position us as one of the premier destinations for Caribbean real estate. We look forward to introducing clients to the many compelling opportunities now available through the wider Corcoran network.”

Corcoran Cayman Islands is the 20th affiliate to be added to the Corcoran Affiliate Network.

Email Lillian Dickerson