First Rock shares Its Jamaican expertise with the region

BY BALFORD HENRY
Senior reporter
balfordh@jamaicaobserver.com

Friday, November 22, 2019

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First Rock Capital Holdings Limited is shifting gear for another fulfilling year of greater capital distribution through real estate and private equity prospects, with the aim of boosting income levels and driving tax efficiency.

First Rock's President and Co-founder Ryan Reid says that the company remains the most exclusive shareholder-centric establishment, as there is still a market for the union of real estate and investment opportunities.

He recalled that the company's investment strategy was affirmed with the $2.5 billion in capital raised from private investors recently. The windfall enabled them to close on a large commercial property in Half-Way-Tree, which represents a deployment of $400 million, with occupants.

First Rock has also acquired properties measuring a little over an acre in upper St Andrew, and other affluent environments. And, with a year of financial and investment successes under its belt, the company has also availed itself of capital in a luxury villa development on the north coast.

“The company is spreading its wings across the real estate sectors, and continues to positively emboss its imprint on the market,” Reid told the Caribbean Business Report.

He said that, with its expertise and achievement over a short period, there is no doubt that the hard work will unremittingly transcend to higher heights, especially with the well-equipped management team.

First Rock's latest move has seen its venture into the Costa Rican market, staking solid acquisitions with laudable and established developers, which adds to the recent purchases in Florida and Cayman; with several other overseas acquisitions to follow.

“The vision for First Rock is to build a brand and a company that constantly breaks ground through innovative real estate investments,” Reid noted.

“We aim to bring the Caribbean even closer together, by deploying similar styles across the region. Our business is registered in Jamaica and St Lucia with a Costa Rican outfit, as well. So, certainly, the aim is to expand and drive development in the region with Jamaican expertise,” he pointed out.

The 'Jamaican expertise' he attributes to the company's well experienced board and stakeholders, including construction maverick YP Seaton, Real Estate guru Pierre Shirley and in-house Legal and Compliance Officer Jordan Chin.

“What we have done at First Rock is ground-breaking and really presents our shareholders with the unique opportunity of holding real estate in the markets in which we are active. Unlike most other assets, real estate rarely ever devalues,” Reid stated.

“Certainly our expertise has made this amazing, because it's not just about purchasing property, we look at the stability of the market, the ease of doing business and opportunity for further development, among other key factors,” he said.

He said that the company is set to unveil major moves before year end, as the heavily youth-driven enterprise wants to expand the pinnacle experience across an illustrious career in real estate and investments.


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