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 Walmart (Guayama); and Plaza Cayey (Cayey).

RVI is an independent publicly traded company trading under the ticker symbol “RVI” on the New York Stock Exchange.

Author Details

• Author Details

Michelle Kantrow-Vázquez

Author Details

Business reporter with 27 years of experience writing for weekly and daily newspapers, as well as trade publications in Puerto Rico. My list of former employers includes Caribbean Business, The San Juan Star, and the Puerto Rico Daily Sun, among others. My areas of expertise include telecommunications, technology, retail, agriculture, tourism, banking and most other segments of Puerto Rico’s economy.

mkantrow@newsismybusiness.com