Less than five months after seeking bankruptcy protection, Marina Puerto del Rey in Fajardo has a new owner with big plans on the horizon for its newest Puerto Rico property.
FirstBank Puerto Rico has entered into three separate agreements to sell a total of $532 million bad commercial loans with a book value of $315 million, for $201 million, or 38 percent of the unpaid principal balance.
Exactly one week after Liberty Cablevision got the go-ahead from the Puerto Rico Telecommunications Regulatory Board to buy OneLink Communications, today the company announced it has closed the $585 million deal.