Fresh from closing a major real estate deal in Costa Rica, real estate development and private equity outfit First Rock Capital Holdings has acquired commercial property in Cross Roads, St Andrew.

According to the company, the 13,303-square-foot property will represent investment for lease income.

In the meantime, the Jamaica Observer has learnt that First Rock is expected to close two major real estate deals in Guyana in the coming days.

Details of the real estate acquisitions are being kept secret until the deal is signed, which could be as early as next week. What is known is that First Rock co-founder Ryan Reid left Jamaica yesterday for Guyana to conclude negotiations with the owners of the two properties in question.

More than a week ago the Observer‘s Caribbean Business Report had detailed First Rock’s bullish real estate acquisitions. The Jamaican-based real estate development and private equity company, through its Costa Rican subsidiary, First Rock Capital LATAM SA, had, more than a week ago, closed the Costa Rican deal in which it will be partnering with local engineering company, Grupo Inmobiliario del Parque (GIP).

The value of the transaction was not disclosed. The partners will be executing the project in the Costa Rican capital of San José.

The project being executed by First Rock and Grupo Inmobiliario del Parque is dubbed ‘Torres Los Yoses’, a multi-storey residential development located in Los Yoses, San José. This development will see over 160 one-bedroom units being developed.

That transaction represents First Rock’s third in the last 18 months, as it continues to increase its asset allocation in Costa Rica.