Hacienda Pinilla Appoints New President

May 19, 2013

ABC Real Estate Costa RicaWe are pleased to inform you that the Board of Agroganadera Pinilla, S.A., the owner of Hacienda Pinilla, has appointed Bree McClure Pattillo to succeed founder Mr. H.G. (“Pat”) Pattillo as the new President of the company. Ms. Pattillo brings nearly two decades of experience to the project, as well as a shared passion passed to her from her grandfather and a lifetime spent on the property and with the people that call Hacienda Pinilla home. For those of you who do not know Bree yet, a bit about her. Bree is a director and officer of Pattillo Construction Corporation and several real estate holding companies in the United States, and received an MBA degree from the Citadel. Ms. Pattillo’s initial and primary focus will be on improving resort operations, marketing exposure and property sales within the project with new and increased investments in local and global marketing, sales team management and training as well as staffing.

Last August, the owner of Hacienda Pinilla started a comprehensive review of succession planning options for the project, in order to continue Mr. Pattillo’s vision, and to ensure that the work of the charitable foundations in Guanacaste supported by Mr. Pattillo was continued over the long term. Discussions with interested investors continued through early May. After careful consideration of a number of opportunities to sell all or portions of the property, Agroganadera determined that retention of ownership control and an aggressive reinvestment in the project, along with improvements to resort operations, would result in the optimal outcomes for current ownership, property owners, partners, the foundations and staff. We are also far along in negotiations for sale of key development parcels within the project, and the selection of resort management and sales and marketing companies. We anticipate making further announcements shortly. We have the flexibility and resources to take a course of action that reflects our long-term commitment to the project. The goal of these efforts is singular… a full and uncompromising restoration of momentum to the property and realization of the comprehensive vision of Hacienda Pinilla. We are as excited now as ever about the future of Hacienda Pinilla, and we appreciate your continued support.

Sincerely,
Mauricio Estrada
General Manager, Hacienda Pinilla
Bree McClure Pattillo
President, Agroganadera Pinilla, S.A

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