FirstBank Puerto Rico recently sold a couple of office buildings in Fort Lauderdale for $2.3 million, or 62 percent off their foreclosed mortgage value, according to the South Florida Business Journal.
The task of repairing Puerto Rico’s retirement systems debacle, which credit rating agencies have warned could affect the island’s credit rating, will require “tolerance, capacity for frank dialogue, a commitment to negotiate in good faith and willingness to make and honor concessions by retirees, current government employees and the general public.”
Local drugstore operator Farmacia Sally has secured a $1.5 million loan from Scotiabank de Puerto Rico to build a second location in Río Grande that will be completely “green,” company officials said.
A Dow Jones/Factiva content provider since 2014
Subscribe to our Dollars & Sense podcast!
