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Nyesa Sells 82 Hectares of Land in Costa Rica for €3.6M

Suelos La Costa Resort Costa Rica Fuente Nyesa 1
Land for Nyesa’s La Costa Resort project in Costa Rica.

Nyesa is disinvesting in Costa Rica, after closing the sale of 82 hectares of land for USD 4 million (€3.6 million). Local businessman Humberto Vargas Corrales has acquired the land, after he purchased another 140 hectares from Nyesa in 2018. The plots are located in the province of Puntarenas and formed part of a project known until now as ‘Resort La Roca’, as reported by the firm to Spain’s National Securities Market Commission (CNMV).

Of the USD 4 million paid for the transaction, USD 2 million (€1.8 million) has been paid directly to the seller; USD 1 million (€900,000) has been withheld by the buyer to pay off a mortgage lien that was held over the plots; and another USD 1 million will be paid to the seller after one year. The buyer “has guaranteed this deferred price with the delivery of a guaranteed promissory note ”.

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