Plazas of Puerto Rico

Forge Capital Partners, Sembler Co. Sell Retail Portfolio in Puerto Rico for $80.3 Million

by Julia Sanders

Puerto Rico — Forge Capital Partners and The Sembler Co. have sold The Plazas of Puerto Rico, a portfolio of retail centers totaling 555,016 square feet across the island of Puerto Rico. A joint venture between Lamar, CCM Puerto Rico and Real Capital Solutions acquired the properties for $80.3 million. Danny Finkle, Eric Williams, Kim Flores and Andrew Carlson of JLL represented the sellers in the transaction. Dispositions include Juncos Plaza in Juncos; Plaza Los Prados in Caguas; Manatí Centro Plaza in Manatí; and University Plaza in Mayagüez. The portfolio was 91.3 percent leased at the time of sale to tenants including Supermercado Amigo, Supermercardo Selectos, National Lumber & Hardware, Marshalls, Walgreens, Grand Way and Capri.

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