First Rock seeks more income generating properties to buy

 


 

First Rock Real Estate Investments Limited for the three months ended March 31, 2025 posted  Net Profit attributable to ordinary shareholders of US$ 539,023 which yielded an Earnings Per Share (EPS) of US$ 0.002.

The Group reported rental income of US$259,179. Realized and unrealized gain on investment properties increased to US$1.6 Million, representing a 336 per cent increase over the period ended March  31, 2024.

The Group also achieved a 70 per cent reduction in its overall Administrative and General expenses, which totaled US$733,727 for the three months.

 As at March 31, 2025, total assets of the Group stood at US$ 59.5 Million, representing a 4 per cent increase over the comparative period in 2024. This growth was partly driven by the acquisition of property in Coyol, San Jose, Costa Rica, earmarked for the construction of a new KFC restaurant and a distribution facility.

Shareholders’ Equity amounted to US$ 26.2 Million, while the Group’s liabilities stood at US$ 33.4 Million as at March 31, 2025, yielding a debt to equity ratio of 1.27.

Subsidiaries include First Rock USA LLC, a limited liability company incorporated in and under the laws of the State of Florida, USA and which holds real estate and investment assets.

First Rock Capital Latam, Sociedad Anónima, is a corporation incorporated in and under the laws of Costa Rica and holds real estate assets and investment assets.

 First Rock Capital LATAM One, S.R.L, is a corporation incorporated in and under the laws of Costa Rica and holds real estate assets and investment assets.

 First Rock Capital Cayman Limited, is a limited liability company incorporated in and under the laws of the Cayman Islands and holds real estate and investment assets.

FCH Jamaica Developers Limited, is a limited liability company incorporated in and under the laws of Jamaica to execute real estate developments.

 FCH Jamaica Assets Limited, is a limited liability company incorporated in and under the laws of Jamaica and holds real estate and investment assets.

Associate  companies include  Caribbean Health Systems Limited, a limited liability company incorporated in and under the laws of St. Lucia and operates medical health facilities.

Joint ventures include St. Thomas Luxury Limited, a limited liability company incorporated in and under the laws of Jamaica and holds real estate and investment assets.

. Ocean Eyes Limited, is a limited liability company incorporated in and under the laws of Jamaica and holds real estate and investment assets.

Management stated that the  Group “will continue to focus on acquiring premium, income-generating commercial assets across the Caribbean, while optimizing the portfolio by divesting non-income-generating properties, thereby concentrating efforts on assets that enhance the Group’s income base and long-term growth potential.

“In fact, there are other commercial tenanted properties that are aggressively being pursed in Latin America. With these efforts in place, the Group expects to see continued progress toward its REIT transformation, with a significant achievement expected by the third quarter of 2025.”

-Caribbean Money Daily

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