Gap Investments
At GAP Investments, our mission is to bring people together by creating fair, balanced, and secure opportunities between qualified borrowers and private investors seeking strong, real estate–backed returns.
With extensive experience in the Costa Rican lending market, GAP Investments has become a leading authority in private, high-yield real estate lending. Our team blends legal, financial, and market expertise to structure investments that maximize security and performance for our lenders. Since 2008, we’ve proudly helped investors achieve consistent returns while supporting responsible growth throughout Costa Rica.
Traditional bank lending in Costa Rica can be slow, restrictive, and expensive—often involving months of paperwork and double-digit interest rates. Private lending fills this gap efficiently. Most loans fall within 6-month to 3-year terms, providing investors with short- to mid-term opportunities backed by substantial collateral and vetted borrowers.
Our consultants and analysts work in the best interest of both investors and borrowers, ensuring every deal is thoroughly reviewed, well-structured, and compliant. As lending standards and regulations have evolved over the past decade, GAP Investments has positioned itself as a trusted conduit for investors seeking access to qualified, secure lending opportunities in Costa Rica.
Our lenders typically earn 12% to 16% annually, depending on the loan-to-value (LTV) ratio. Lower LTVs receive more favorable rates. For example, a property valued at $300,000 USD securing a $30,000 USD loan represents a 10% LTV and generally aligns with a 12% return. A 30% LTV may correspond to about 14%, while LTVs in the 40%–50% range offer returns closer to 16%. GAP lenders offer financing up to 50% LTV, balancing attractive returns with strong collateral protection.
Borrowers are responsible for closing costs similar to those charged in traditional banking. GAP Investments charges approximately 8% to cover consultant support, legal work, and notary fees required to register the mortgage. These costs are deducted from the borrower’s loan proceeds at closing.
To further safeguard investor returns, we recommend a one-year prepayment penalty (or an interest guarantee) that ensures a minimum of 12 months of interest. For example, if a borrower pays off the loan after 10 months, they would cover the remaining two months of interest in addition to the balloon payment.
Lawsen Tellier, Operations Manager
Lawsen Tellier, the Operations Manager at Grupo Gap, is a dynamic force in Costa Rica’s financial and real estate sectors. He embarked on his professional journey in his late teens, accompanying his father, the founder of Gap, to intricate loan site inspections.
With over a decade of experience, Lawsen has mastered the meticulous process at Gap Equity Loans, ensuring quality and security for private investors from initial vetting through accurate National Registry recordings. Simultaneously, Lawsen has been a pivotal figure at GAP Real Estate, leveraging his understanding of property valuation and legal intricacies.
His dual roles have given him a unique vantage point, bridging the gap between lending and real estate, making him an invaluable asset to the GAP conglomerate. As he continues to shape the future of GAP’s diverse ventures, Lawsen’s journey from his late teens to a seasoned professional in Costa Rica stands as a testament to his dedication, expertise, and the legacy of the GAP companies.
Steven James Stewart, Strategic Advisor – Development & Capital Structuring
Steven Stewart brings over 35 years of international expertise in real estate development, capital structuring, and infrastructure finance to Grupo GAP. As Strategic Advisor, he plays a key role in guiding large-scale projects and advising on high-value loan structuring for GAP Investments and GAP Equity Loans.
A permanent resident of Costa Rica since 2004, Steven has helped shape a range of high-impact developments across the country, providing financial strategy and project oversight for residential, commercial, and hospitality ventures. His background includes managing complex capital stacks, working alongside local architects, construction firms, and financial institutions to align investor interests with borrower needs.
Before joining Grupo GAP, Steven led major initiatives in Canada and Latin America, managing a $300 million investment portfolio and advising on multiple Limited Partnerships. In Costa Rica, he has collaborated with top-tier firms, including Edificar, Constructora Meco, and Arquitectos y Diseños. His insights help ensure GAP-funded projects are well-structured, financially viable, and strategically aligned with investor goals.
Steven is fluent in English and Spanish and is highly regarded for his ability to navigate Costa Rica’s regulatory and financial landscape while delivering practical, on-the-ground execution.
Glenn Tellier, founder and CEO
Glenn Tellier is a highly regarded finance industry professional with over 30 years of experience in lending, investments, and financial planning. As the founder of Grupo Gap, Glenn has established a reputation for providing expert advice and guidance to numerous clients, helping them make informed financial decisions and achieve their objectives.
Glenn studied at the prestigious University of British Columbia, where he earned his mortgage broker’s license in the mid-90s. His dedication to excellence in his field is further demonstrated through his extensive training and experience, making him a trusted and highly sought-after professional.
Glenn is committed to providing his clients with the highest quality of service and is passionate about enhancing the country’s well-being by offering expert financial advice. His vast experience, industry knowledge, and dedication to excellence make him an invaluable asset to Grupo Gap.
Robert N. J. Stewart – Senior Consultant
Robert Stewart is a distinguished Chartered Financial Planner with nearly 60 years of experience and more than 100 industry awards. Beginning his career in 1965, he became one of Kitchener–Waterloo’s most recognized financial planners, earning multiple honors as Regal Capital Planners’ Top Financial Planner and speaking at major international financial conventions in Brazil, Hong Kong, and England.
After relocating to Costa Rica in 2004, Robert expanded his investments across Costa Rica, Spain, and Nicaragua, later serving as Chairman of the Board for a $2.3-billion development initiative, where he provided strategic oversight and high-level planning guidance.
Today, Robert works primarily with Grupo GAP as a senior consultant, specializing in tax-efficient project structures and connecting developers with reputable financial companies for major funding opportunities. His deep global network and decades of strategic experience make him a trusted resource for investors and developers seeking clear pathways to large-scale project financing in Costa Rica. Known for his integrity, precision, and ability to unite the right partners, he continues to support GAP-driven development throughout the region.
Begin Your Costa Rican Journey with Gap Investments
Whether you’re exploring investment opportunities or need financing solutions, our team is ready to guide you every step of the way.
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