Tourism Project Up for Auction

In an event exclusively for qualified investors, the Hacienda Pinilla resort complex in Costa Rica, which measures 1,800 acres and has hotels, a golf course and residential communities, will be auctioned.

Monday, September 17, 2012

The U.S. company United Country Real Estate, in partnership with Colliers International, will perform the live auction on Nov. 15 in Dallas, Texas. The event will be for qualified investors who have been invited to participate.

Dan Duffy, president of United Country, did not give details of the price, which will be determined at auction.

"However, some calculations can be made.
According to Danny Quiros, intelligence manager at Colliers International Costa Rica, the price per square meter in the Santa Cruz ranges between $90 and $110.

This means that the transaction could exceed $1.8 billion, if you take as a basis a cost of $100 per square meter. This, does not include the value of what has already been built", reports Elfinancierocr.com.



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Hacienda Pinilla Cancels Auction and Announces Reinvestment

May 2013

The company Agroganadera Pinilla SA has decided to keep control of the company and waive the auction for the sale of the 1,800 hectares of Hacienda Pinilla in Guanacaste, Costa Rica.

In order to do this, the board of the company named Bree McClure Pattillo as successor to his grandfather HG (Pat) Pattillo, founder of the project.

Mega Resort Auction Postponed

November 2012

Scheduled for Nov. 15, the auction of the 1,800 hectares making up the Hacienda Pinilla has been postponed until May 15, 2013.

Country Auction Services, the agent in charge of the auction, said "the marketing webpage created for the project, www.HaciendaPinillaAuction.com, has been seen by nearly 10,000 visitors from 102 countries.

Costa Rica vacation homes hit by crisis

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The U.S. mortgage crisis has hit Costa Rica's once booming vacation home market, with sales plummeting as Americans who dream of buying a tropical getaway struggle to find financing.

U.S. retirees and vacationers often pay for beach homes along Costa Rica's jungle-fringed beaches by taking out mortgages on their homes in the United States, but trouble in the banking sector has made that more difficult, realtors say.


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