$50.2 million mortgage recorded on two Santurce properties
A mortgage deed signed on July 21, 2026 puts a $50,220,161 mortgage on two properties in Santurce, according to the deed presented to the Property Registry and property records analysed by RED Atlas. It secures $28,675,440 on a 6,090 m2 property on Calle Concepción and $21,544,721 on a 2,525 m2 lot at 227 Marginal Baldorioty de Castro, beside Norte Shopping Center.
The $50.2 million is part of a single $288,512,207 mortgage note payable on demand, which the deed spreads over these and other properties of the same owner. The mortgage is in favour of whoever holds the note, so the deed names no lender. RED Atlas records hold four more bearer mortgages dated the same day, in Caguas, Hato Rey, Toa Baja and Juncos, for $100.7 million.
Two storage sites
Both properties carry mini-storage businesses in permit records. The Calle Concepción property last changed hands on December 28, 2020, recorded at $17,679,000, and the Baldorioty de Castro lot on June 1, 2021, at $11,352,000. The mortgage is about 1.7 times the $29 million recorded for the two.
The Calle Concepción property is zoned ZU-I1, and the Puerto Rico Land Use Plan classes it as urban land.
