El Señorial Plaza sold for $20.4M to undisclosed buyer
Retail Value Inc., owner of El Señorial Plaza in San Juan, announced it closed the sale of the shopping center on June 3, for $20.4 million.
The buyer was undisclosed, and RVI said the sale amount is “prior to closing costs, prorations and other closing adjustments.” The company used the net proceeds to repay mortgage debt.
El Señorial Plaza has been in operation since 1978, serving its neighboring communities. It has about 20 retail establishments — both inside the main building as well as in its surrounding spaces — that offer a mix of banking, specialty stores, and restaurants.
After the sale, its parent company will now continue to own nine properties in Puerto Rico: Plaza Isabela (Isabela); Plaza del Norte (Hatillo); Plaza del Atlántico (Arecibo); Plaza del Sol and Plaza Río Hondo (Bayamón); Plaza Escorial (Carolina); Plaza Fajardo (Fajardo); Plaza Guayama (Guayama); and Plaza Cayey (Cayey).
RVI is an independent publicly traded company trading under the ticker symbol “RVI” on the New York Stock Exchange.