THE OFFERING

Central American Forest Management, Inc. and AFM Real Estate (collectively, “CAFM”), on behalf of The Rohatyn Group (“TRG”), are pleased to present the Nicoya Legacy Forests (the “Portfolio” or “Properties”), a rare institutional-scale land investment opportunity totaling approximately 4,228.1 gross hectares.  The properties are held in two separate ownership structures and are in one of Central America’s most active and globally recognized regions for tourism, conservation, and land development. 

Collectively, the Portfolio includes a diverse mix of income-producing teak plantations, transitional agricultural lands, and properties with alternative land-use potential. These assets offer potential value drivers spanning productive forestry, natural capital, conservation, agriculture, hospitality, wellness, lifestyle, and long-term asset appreciation.

CORE TIMBER & NATURAL CAPITAL

A significant portion of the Portfolio consists of professionally managed teak plantations and associated working forest landscapes that have benefited from more than a decade of institutional ownership and forest management. 
 
The timberland portion of the Portfolio provides investors with exposure to a productive teak resource supported by established silvicultural practices, experienced local management, and Costa Rica’s stable forestry framework. These lands offer the potential for future timber revenues, biological growth, and long-term value appreciation.
 
Beyond timber production, the forestland portion may appeal to investors pursuing natural capital strategies, including carbon sequestration, ecosystem service initiatives, biodiversity conservation, and sustainable land stewardship. The combination of productive plantations, natural forest areas, watershed resources, and environmental protections creates multiple pathways for long-term value creation.

DEVELOPMENT, LIFESTYLE & COASTAL-INFLUENCED

In addition to its managed timberland assets, the Portfolio includes several properties with ocean-view characteristics and other attributes that may support alternative investment opportunities over time. 

Certain properties benefit from proximity to established tourism destinations, transportation infrastructure, population centers, and broader economic growth across the Nicoya Peninsula and Guanacaste regions. These attributes may support a range of future uses, including conservation-oriented communities, wellness and lifestyle developments, eco-tourism, hospitality projects, regenerative agriculture, and strategic land banking. 

Importantly, these opportunities exist alongside the Portfolio's productive forestry and conservation values, creating a diversified land investment platform capable of serving multiple ownership objectives and investment strategies.

THE AREA

The properties are located in northwestern Costa Rica, primarily within the Nicoya Peninsula, spanning both Guanacaste and Puntarenas provinces. The region is one of Costa Rica’s most active land and tourism markets, supported by international access, established coastal destinations, and continued demand from domestic and international buyers. 

The Portfolio’s location within Costa Rica’s internationally recognized Blue Zone further enhances its appeal to buyers seeking investments aligned with wellness, sustainability, and quality-of-life trends. 

STEWARDSHIP & LEGACY

The Nicoya Legacy Forests portfolio represents more than a collection of timberland and rural land assets—it reflects over a decade of disciplined stewardship under institutional ownership and professional forest management. 

Since the first acquisitions in 2011, ownership has emphasized sustainable land management practices designed to balance economic productivity, environmental conservation, and long-term landscape resilience. Management activities have focused on responsible teak production, protection of natural forest areas, watershed conservation, soil protection, and compliance with Costa Rica’s globally recognized environmental framework. 

The Nicoya Legacy Forests Portfolio demonstrates how productive forestry, ecological stewardship, and rural economic activity can coexist within a single landscape.

BID SALE PROCESS

The portfolio is available for sale through sealed bids, with bids due by December 17, 2026.

The offering includes the underlying land and the timber interests that comprise Nicoya Legacy Forests, which are currently held in two separate ownership structures. The Seller’s objective is to complete the disposition of those land and timber interests across both ownership structures. However, qualified purchasers may submit bids for the entire Portfolio, either ownership structure, any individual property, or any combination of properties as described in the offering.  No subdivisions of individual properties will be allowed.   Bids should be submitted separately for each ownership structure and should clearly identify the property or properties included in each offer. 

The Seller reserves the right to accept or reject any bid and to select the transaction structure or combination of transactions that best meets its overall disposition objectives.

PROPERTY TOURS

Qualified prospective buyers will have the opportunity to participate in a guided field tour of the Portfolio with CAFM management and local forestry staff. Tours will provide first hand exposure to the properties, key features, management history, and forestry operations. Tour availability will be coordinated as part of the sale process, with additional details regarding timing and logistics provided to qualified participants.

DATA ROOM

An electronic data room containing information for interested parties to evaluate the properties is anticipated to open on or about September 29, 2026. All prospective buyers with an executed Confidentiality Agreement (CA) will be granted access to the data room once it becomes available. Please return executed CAs to [email protected]