$280,000 Investment in Parrita
Private Lenders Investor Alert
“Investment in a property in Parrita”
Earn 13% interest per year
Invest $280,000.00
Earn $3,033.33 per month
That is $36,400.00 per year
It is a 36 – month term loan
That is $109,199.88 in profits
DETAILS OF INVESTMENT IN PARRITA:
Amount Requested: $280,000 USD
Term Desired: 3 years
Loan-to-Value Ratio: about 35-40%
Land Area: about 420.25 m2
Construction Area: about 401.75 m2
Property Location: Parrita
The little town of Parrita sits in the middle of a large African palm oil farm located in the Puntarenas province of Costa Rica. It is on the way to the famous beach, Manuel Antonio.
According to local legend, the town’s name comes from a woman named Rita, who lived in one of the original settlements in the area before the arrival of the Spanish. Rita supposedly owned a business and often received packages, and the phrase “Es pa Rita” (It’s for Rita) was heard so many times that the canton in which the city resides was named Parrita.
Parrita is surrounded by several rivers, including the Damas, Picaritos, Palo Seco, Jicote, Chires, and the Parrita.
The community’s economy is almost exclusively dedicated to producing African palm oil, an edible plant oil derived from the trees of the same name.
Property Description: This collateral property is located on the main street in the very center of Parrita, across from the main branch of Banco de Costa Rica (BCR).
This well-maintained commercial property has 7 commercial units, of which 6 are rented.
The rental units consist of:
- 1 PIPASA*
- 1 convenience store/market
- 1 doctors office
- 1 shoe store
- 1 hardware store
- 1 mobile phone store
* PIPASA is the anchor tenant. They are a well-known quality meats/poultry provider in Costa Rica and have rented their location for over 20 years.
PIPASA HAS AGREED TO PAY THE LOAN AMOUNT DIRECTLY TO THE LENDER.
Note: The funds provided in this loan will be invested back into the collateral property. The borrower will be constructing a new commercial property, the ONLY in the downtown area (an oil and lube store).
All of the following documents are available upon request (in addition to standard documents):
- Recent appraisal by Banco Popular
- Tax declarations for the borrower
- Financial statements for the borrower
- Lease agreements with commercial tenants, including PIPASA
- Proof of latest rent payments by commercial tenants
Banco de Costa Rica (BCR) has purchased 17,000 m2 of land behind this collateral property to build a regional office. The BCR regional office will increase customer traffic in the area and will most likely increase the land valuation of the surrounding properties.
Also, The borrower has plans to build an additional commercial property, a medical building that will house 12 offices. This building will be the only one in Parrita.
COLLATERAL PROPERTY
If you are interested in this Investment in Parrita, CLICK HERE
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Article by Glenn Tellier (Founder of CRIE and Grupo Gap)
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