FirstRock Real Estate Investment Limited and its subsidiary, FCH Jamaica Developers Limited, have repaid all obligations to Sagicor Bank Jamaica after the success of Mayberry Investment Limited as arranger of a secured corporate note.

This repayment, which became effective on September 15, has resulted in the formal exit from receivership in relation to its real estate project at Bamboo Avenue. 

“Mayberry is proud to have partnered with FirstRock in structuring this transaction, which represents an important step in repositioning a significant real estate development in Jamaica,” said Patrick Bataille, CEO. “Our team remains committed to supporting transformative projects that create value for our clients, investors, and the wider economy.”

Mayberry congratulated FirstRock on the successful completion of this phase and expressed a desire to work closely with FirstRock and the successful completion of the Bamboo Avenue project, which is poised to be a landmark development in Kingston.