Hacienda Pinilla Announces Auction to Secure New Owners, Fund Foundation
September 20, 2012 - Costa Rica
Agroganadera Pinilla, S.A., the owner of Hacienda Pinilla Beach Resort and Residential Community, Guanacaste, Costa Rica, announced today that it will offer qualified investors and developers a unique opportunity to participate in an auction of the Hacienda Pinilla to accelerate the realization of the vision for the project. Additionally, net proceeds from the newly invested capital will be used to permanently fund the operations and charitable work of Guanacaste Ventures U.S., Inc., and its counterpart foundation in Costa Rica, Fundación Progreso Guanacaste, each established by Mr. H.G. ("Pat") Pattillo, majority shareholder of Agroganadera Pinilla, S.A., to continue the work of the foundations focused on education, healthcare and affordable housing for the people of Guanacaste.
"For over 40 years, I have been blessed and enriched by the opportunity to be part of the Guanacaste community and feel as strongly now as ever about the importance of investing in its future. As I advance in my years, it is important for me to make certain that the work of the foundations continue after I am no longer able to personally ensure that funds are available for continuation of the foundations' operations. It is our intention to secure a new investor for the project as soon as practical so that we can build on the work of the foundations, which has included the improvement or repair of over 45 schools in Guanacaste, local medical assistance, construction of affordable housing, and scholarships for Guanacaste young people to attend universities in the U.S. It is also important that we continue to build value in the project for the benefit of those that call Hacienda Pinilla home" said Mr. Pattillo, an entrepreneur and philanthropist from Decatur, Georgia.
United Country Real Estate, a premier global real estate brokerage and auction company specializing in marketing distinctive, investment grade real estate assets, has been engaged to assist Agroganadera Pinilla, S.A. to market the project to qualified investors internationally in cooperation with David Pinsel, Managing Director of Colliers International North Texas, and Patrick Duffy, President of Colliers International Houston. The property will be offered to the highest bidder subject to seller confirmation of the offer.
"The newly-renovated international airport - only a 45-minute drive from the project, with increased daily flights and passenger traffic - puts Guanacaste is on the 'short list' for global tourists and retirees. Hacienda Pinilla is the premier established resort in the area and combines all the amenities and convenience expected of a world class destination resort community and the best of what the Costa Rican lifestyle has to offer," said Mr. Dan Duffy, Chief Executive Officer, United Country Real Estate. "There is a reason why the developers of the recently opened J.W. Marriott chose to build on this property. They were secure in the fact that the extensive in-place infrastructure, comprehensive permitting and extensive amenities which include a Mike Young designed 7,300 yard masterpiece 18 hole golf course, beach club and spa, fine dining, equestrian facilities, Certified Audubon International Sanctuary and world class white sand beaches would drive interest in their property...and they were right" added Mr. Duffy.
"Due to the scale of what is being offered to the market, approximately 4,450 acre master-planned and permitted communities and the unique opportunity for investors and developers to invest in a one of a kind project with exceptional infrastructure and "turnkey" operations, Hacienda Pinilla will be offered both in carefully articulated development parcels and in its entirety," said Mike Jones, President, United Country Auction Services. "We are already receiving exceptionally strong interest in the project. With multiple beach and ocean front, golf course and mountain hotel and residential development tracts, equestrian 'ranchette' communities, retail and mixed-use sites there is really something for every developer serious about being part of a truly unique development opportunity in an exceptional part of the world."
United Country Real Estate is the principal broker and auctioneer representing the seller for this offering in cooperation with Colliers International. Interested parties are welcome to visit www.HaciendaPinillaAuction.com or call 1-800-444-5044 or 1-816-420-6253 to learn more about the investment opportunities at Hacienda Pinilla.
About Guanacaste Ventures U.S., Inc., Fundación Progreso Guanacaste and Hacienda Pinilla
Guanacaste Ventures U.S., Inc., is a private non-profit organization dedicated to improving education, health and housing in North and South America. In cooperation with its sister foundation in Costa Rica, Fundación Progreso Guanacaste, Guanacaste Ventures U.S., Inc., has provided scholarships to Costa Rican students from the region of Guanacaste for use in attending U.S. colleges and universities. The foundations were established in 2000 by Mr. H.G. ("Pat") Pattillo, the majority shareholder of Agroganadera Pinilla, S.A. The original idea was to use profits garnered from the Hacienda Pinilla Beach Resort and Residential Community to improve the lives and offer educational opportunities of the citizens of the Guanacaste region of Costa Rica. The foundations have used these funds to build numerous schools, houses and healthcare facilities, as well as provide scholarships, every year since its inception.
About United Country
United Country Real Estate is the largest fully integrated network of conventional and auction real estate professionals in the United States and Central America. The company has been an innovator in real estate marketing since 1925. United Country supports nearly 550 offices across the U.S., Costa Rica, Panama and resort areas of Mexico, with a unique, comprehensive marketing program that includes one of the largest portfolios of property marketing websites (more than 3,000 separate sites and traffic of approximately 3 million visitors per month), multiple United Country real estate catalogs with national distribution , an extensive buyer database and national advertising of local properties that reaches more than 90 million homes per week. United Country has recently been recognized by Franchise Business Review, AllBusiness.com, The Land Report, Entrepreneur and The Wall Street Journal as one of the top U.S. real estate companies.
About Colliers International
Colliers International is the third-largest commercial real estate services company in the world, with over 12,300 professionals operating out of more than 522 offices in 62 countries. A subsidiary of FirstService Corporation (NASDAQ: FSRV; TSX: FSV and FSV.PR.U), it focuses on accelerating success for its clients by seamlessly providing a full range of services to real estate users, owners and investors worldwide, including global corporate solutions, brokerage, property and asset management, hotel investment sales and consulting, valuation, consulting and appraisal services, mortgage banking and research. Commercial Property Executive and Multi-Housing News magazines ranked Colliers International the top U.S. real estate company. The latest annual survey by the Lipsey Company ranked Colliers International as the second-most recognized commercial real estate firm in the world.
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