50% of Interbolsa’s portfolio is composed of Real Estate Investment Trusts, considered the group’s key assets.
Interbolsa’s CEO, Danilo Montero, told Elfinancierocr.com that “they have been considering this possibility since last year, but there is nothing concrete yet”. Rumor has it that Grupo Lafise is one of the interested in the operation.
Source: elfinancierocr.com
More on this topic
May 2008
Real-estate development funds are a novelty in Costa Rica's financial markets and they have been slow to take off.
Although the market regulator, Sugeval, has authorized 13 projects to far, only one is actually under construction.
Market specialists say that investors are wary of any new concept, but some complain that the system involves too much red tape.
May 2011
Four businesses have acquired part of the investment fund management company .
The sale of this subsidiary of Interbolsa is the latest in the list of changes and restructuring experienced by the Group since 2009, when it closed its money exchange office.
From that point on the company has undergone several changes, from the closure of the stock exchange office in April 2010 to the liquidation of its office in Panama, which operated under the company name IB International.
January 2009
The decrease in the minimum asset level in Real Estate Funds to $5m encourages the undertaking of smaller real estate development projects.
The measure adopted by the Superintendence of the Stock Market hopes to adapt the rules to the current financial and economic crisis to promote investment, especially in the construction sector.
July 2010
This fund would consolidate all the shares owned by the State of Panama in several companies.
The government of Panama has requested proposals on how to organize this fund to three investment banks: Merrill Lynch, J.P. Morgan and Macquarie Capital.
“Panama’s Finance Ministry reported that this proposal is being analyzed, and explained that the fund will be state-owned, as it would be made of assets owed by the State of Panama”, reported Prensa.com. “Authorities are also considering administering the fund through a holding company”.
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