U.S. Holding Company Buys Land in Nicaragua

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A U.S. holding company has purchased 134 acres on the Caribbean coast of Nicaragua as part of a larger plan to develop the country's infrastructure.

Accredited Business Consolidators, a holding company, paid $1.325 million, or $9,842 per acre, for the land on the Bay of Bluefields. The remote bay is only accessible by boat from the Escondido river or air. But it is on travel route to the Bluefields Port.

The company plans to sub-divide the property and develop a fuel dock, servicing station and storage facilities, vice president Andy William told World Property Channel.

"Nicaragua is building a highway to Bluefields that will connect it to the mainland," Mr. William said in an e-mail. "We believe this will significantly increase the value of property in the region.

As access improves, "other parts of the land will prospectively be used for housing and tourism related uses," Mr. William said. 

The purchase was financed by the seller with a 10-year loan, at a 6.75 percent annual interest rate, with no interest accruing until the third year.

Accredited invests in a wide variety of businesses, including lumber and exotic hardwoods in Nicaragua, corporate travel services, Internet domain names, short-term payday loans, and "vintage clothing in Costa Rica," according to its profile on Bloomberg.

Earlier this year the company announced a partnership with Made in Nicaragua to distribute Nicaraguan arts and handicrafts in Managua gift shops.

"We look for opportunities where we can obtain businesses and land at below market value," Mr. William said. "We believe that Nicaragua has many opportunities available and we are looking to expand there."