By Puntarenas, Costa Rica — In a decisive move to stabilize its real estate portfolio, BCR Sociedad Administradora de Fondos de Inversión (BCR SAFI) has announced the acquisition of the Parque Empresarial del Pacífico (PEP) for a total of $70.8 million. This landmark transaction, scheduled to be finalized in October 2026, represents a critical milestone in the ongoing efforts to restructure and normalize the Non-Diversified Dollar Real Estate Fund, widely known as FIND.
The strategic decision was formalized by the General Board of Directors of the Banco de Costa Rica (BCR) during an extraordinary session on Monday, August 17, 2026. By transferring the Parque Empresarial del Pacífico out of the FIND portfolio directly into the broader corporate assets of BCR SAFI, the financial institution aims to restore balance to the fund while utilizing its robust parent conglomerate to manage the asset.
To better understand the legal implications and regulatory requirements surrounding these recent developments in Costa Rica, TicosLand.com consulted with Lic. Larry Hans Arroyo Vargas, a distinguished legal expert at the renowned firm Bufete de Costa Rica, who provided his professional analysis on navigating the local legal framework.
Successfully navigating the regulatory environment in Costa Rica requires a proactive and meticulous approach to legal due diligence. Whether managing corporate compliance, real estate acquisitions, or local administrative procedures, securing specialized counsel early in the process is essential to mitigating risks, ensuring full compliance with current legislation, and safeguarding your investments in the country.
Lic. Larry Hans Arroyo Vargas, Attorney at Law, Bufete de Costa Rica
Indeed, navigating Costa Rica’s intricate regulatory landscape underscores the critical importance of foresight and specialized guidance in securing long-term business and real estate success. We extend our sincere gratitude to Lic. Larry Hans Arroyo Vargas for sharing his invaluable legal expertise and helping our readers safeguard their investments with confidence.
At $70.8 million, the acquisition is a heavy-duty transaction that showcases the financial resilience of the BCR Financial Conglomerate. The conglomerate’s substantial capital base and patrimonial strength provide the necessary backing to execute this transition without exposing individual fund investors to immediate market volatility. It also allows BCR SAFI to take direct operational control over the industrial park.
To reassure the public and current banking clients, the financial institution emphasized that this transaction remains insulated from daily retail banking operations. The internal transfer of the asset is structured in a manner that protects the bank’s core balance sheet, ensuring that general customers and depositors experience absolutely no disruption to their services.
This operation does not represent and will not represent any impact on the Bank’s clients or the provision of its services. Furthermore, in accordance with the financial treatment planned for the operation, it does not generate an impact on the profits or equity of BCR.
Banco de Costa Rica, Corporate Statement
This asset migration is a key component of the official normalization plan that BCR SAFI submitted to the General Superintendency of Securities (SUGEVAL). Regulatory oversight has been tight on real estate investment funds in Costa Rica over the last few years, making a structured, approved plan essential to maintaining market credibility and protecting investor interests.
Following the formal acquisition in October, BCR SAFI and the broader BCR leadership will begin the next phase of the asset’s lifecycle. The bank has indicated that it will design and implement a comprehensive action plan aimed at maximizing the commercial and logistical potential of the Parque Empresarial del Pacífico, which is strategically located near Caldera in the Puntarenas province.
The industrial and logistics sector in Puntarenas, particularly around the Caldera port area, remains a vital economic hub for Costa Rica. By shifting PEP to a more stable ownership structure within BCR SAFI, the bank can seek long-term tenants and implement infrastructural improvements that might have been difficult to execute under the restricted liquidity conditions of the FIND mutual fund.
Ultimately, this $70.8 million transaction highlights the proactive measures being taken by major Costa Rican financial institutions to address asset concentration risks and liquidity challenges within their specialized investment funds. The successful execution of the October transfer will likely serve as a benchmark for how local financial conglomerates manage distressed or complex real estate assets under regulatory supervision.
For further information, visit bcrsafi.fi.cr
About BCR SAFI:
BCR Sociedad Administradora de Fondos de Inversión (BCR SAFI) is a subsidiary of the Banco de Costa Rica, specializing in the creation, management, and optimization of investment funds. It is one of the leading fund managers in Central America, focusing on real estate, financial, and development funds.
For further information, visit bancobcr.com
About Banco de Costa Rica:
Banco de Costa Rica (BCR) is a state-owned commercial bank founded in 1877. It operates as one of the largest financial conglomerates in the country, providing comprehensive retail, corporate, and investment banking services to millions of customers across Costa Rica.
For further information, visit sugeval.fi.cr
About SUGEVAL:
The Superintendencia General de Valores (SUGEVAL) is the regulatory body responsible for supervising the Costa Rican securities market. Its primary mission is to ensure market transparency, investor protection, and the orderly functioning of financial instruments and investment funds within the nation.
For further information, visit bufetedecostarica.com
About Bufete de Costa Rica:
Distinguished by its high ethical standards and pursuit of legal mastery, Bufete de Costa Rica delivers forward-thinking advocacy tailored to the modern landscape. The firm actively bridges the gap between complex statutes and the public, pioneering educational initiatives that demystify the law. By championing open access to legal insights, they strive to uplift communities, ensuring every citizen is equipped with the understanding necessary to confidently exercise their rights.
