In the last twelve months, the total amount of assets managed by property funds increased by $68 million, to $966 million.
More purchases of new property by managers and revaluations of existing ones partly explain the increase in assets managed by real estate funds in the country, which as of June 13, had a total portfolio of $966 million.
A real estate investment fund owned by Banco de Costa Rica has bought 60% of the facilities of Global Business Park in Heredia.
Elfinancierocr.com reports that "The acquisition will add 21 new tenants to the Fund, including domestic and foreign companies primarily within the medical industry. It will also increase by 50% the assets managed by the real estate investment trust."
In Costa Rica, 55% of the total in investment funds is in extreme liquidity instruments.
The fear caused by the financial crisis has prompted investors to abandon growth and income investment funds which typically offer better returns and put their money in highly liquid, low return funds, where the money can be withdrawn in less than 24 hours.
Costa Rica Commercial has launched operations, as the first specialized Costa Rica real estate broker, exclusively specialized in Costa Rica commercial real estate rentals and investment property sales.