The manager of a new property group in Jacó, known as Lost Beach, said he is promising to better manage the properties that had been handled by DayStar owner Patrick Hundley.
He said that after an investigation into Hundley and DayStar accounting procedures, he believes that the company is virtually bankrupt and has a history of shoddy money management.
Byker and his partner, Denny Cherette, released an accompanying press statement recently to announce their efforts to reconcile the homeowners’ accounts. According to Byker, Lost Beach is designed to offer a fresh structure to these properties and will offer rentals, resale, management, and maintenance services.
“Two Grand Rapids area real estate developers have established Lost Beach companies to restore the credibility and long term value of the beachfront resort properties currently managed by DayStar in Jacó,” the statement reads. “The new companies are entirely independent of DayStar and its incarcerated owner, Patrick Hundley.”
Hundley is also originally from the Grand Rapids area. So, too, is Dag Hascall, the owner of Croc’s Casino Resort in Jacó, which is scheduled to be open by the end of the year.
Hundley’s lawyer said last week that the DayStar owner is in the process of coming up with $1.5 million for bail to be released from prison in Pérez Zeledón, where he has been since Feb. 17.
Byker said he owns 25 condominium units under DayStar, which he continues to rent out and lease. Byker added that he is appointing Lisle Head to manage Lost Beach operations in Jacó.