Banco Popular de Puerto Rico announced Monday it completed the previously announced sale of a portfolio of non-performing commercial and construction loans, and commercial and single-family real estate owned, with a combined unpaid principal balance on loans and appraised value of other real estate owned of approximately $995 million and book value of approximately $540 million to an entity majority owned by a joint venture between Caribbean Property Group LLC and certain affiliates of Perella Weinberg Partners’ Asset Based Value Strategy.
Popular Mortgage closed 10,000 new mortgages and refinancing loans in Puerto Rico last year, representing about $1.5 billion for the bank that as a result locked down a market share of about 30 percent for 2012, financial institution officials said Thursday.
Moneyhouse, Puerto Rico’s largest private equity lender and frontrunner in reverse mortgage closings, is marking its sixth anniversary with the recent opening of a new branch in Guaynabo, pushing the number of offices to eight in Puerto Rico.
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