Sygnus Capital has secured a US$5.4 million construction loan for Centric Holdings LLC to develop 24 units of affordable housing in Ponce, Puerto Rico.
Information on the Target
Sygnus Capital PR LLC has successfully facilitated a construction loan of US$5.4 million to Centric Holdings LLC for the development of Centric Contemporary Urban Residences, a 24-unit housing development located in Ponce, Puerto Rico. This financial commitment accentuates Sygnus Capital's growing presence and influence in Puerto Rico’s real estate market, particularly in addressing the acute housing demands in the region.
The Centric Contemporary Urban Residences project aims to offer modern and affordable housing solutions, featuring 1,500 square feet of living space across two levels, comprising three bedrooms, three full bathrooms, and outdoor living areas. With such amenities, the development is set to cater to the needs of working families and middle-income residents in the area.
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Industry Overview in Puerto Rico
Puerto Rico's real estate sector has grappled with a significant housing shortage, currently estimated at over 60,000 units. This situation has been exacerbated by factors such as post-hurricane displacement, shifts in populatio
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in 2025
in a Other deal
Disclosed details
Transaction Size: $5M