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Riu Hotels & Resorts acquires ocean-front property in Costa Rica

October 31, 2006

Dallas-based JTL Capital, LLC announced today that it has sold its 821 acre Playa Matapalo beach site in Guanacaste, Costa Rica to Riu Hotels & Resorts.

JTL acquired the property in April of 2005 in partnership with Oakridge Investments, also of Dallas.  The intention was to develop the property into a resort-style community featuring hotel, residential and golf; however, the market kept improving in this region of Costa Rica, as many of the major hotel brands were scrambling to find sites to develop more hotels and condominiums. 

"The market has been ripening in Costa Rica for a few years now, and we were able to sneak up on this beautiful piece of property at the right time for what turned out to be a bargain price," said David A. Lane, managing partner of JTL Capital.

Riu Hotels & Resorts-a hotel chain jointly owned by tour operators TUI AG and the Riu family-is the second largest hotel company in Spain with 110 hotels in 18 countries.

Founded in 1999, JTL Capital, LLC is a closely held, private real estate investment and development concern based in Dallas, Texas.  JTL invests directly in buildings, land, leaseholds, mortgages and other real estate interests and employs a value-enhancement strategy to generate attractive risk-adjusted returns for the company and its investors. 

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