$14 million mortgage recorded on a 282-home subdivision site in Buena Vista, Humacao
A $14,000,000 mortgage was recorded on June 30, 2026 on a 148,884 m2 tract on Avenida Palacios del Mar in Buena Vista, Humacao. The mortgage deed secures a note payable to bearer; a financing statement filed the same day names Banco Popular de Puerto Rico as the secured party.
A mortgage is a security right over real estate that guarantees an obligation. The property stays in the hands of the debtor while the right is in place.
The land and the project
The property record gives the lot 167,061 m2, 82% of it zoned R-I, the intermediate-density residential district, 15% A-2 and 2% roads. Permit filings describe what is planned there. In September 2024 a filing named Valles del Caribe described a residential project on exactly 148,884.0114 m2 (37.88 cuerdas) in three phases of 96, 99 and 87 homes, 282 in all, and the infrastructure recommendation for the 282-home complex was approved on June 9, 2025. Since May 2026 the filings carry the name Palacios del Este, single-family homes at PR-923 Km 1.5: infrastructure recommendations approved on May 28 and 29, June 2, July 16 and August 3, 2026; a ministerial subdivision filed on September 14, 2026, at inspection; and consolidated construction permit filings from August 5 to October 9, 2026, for 15,520 m2 of building, the latest marked incomplete.
What homes sell for next door
The tract adjoins Urbanización Palacios del Mar, whose own permits describe a 641-unit social-interest housing project. Nine homes in Palacios del Mar have sold since January 2025, between $140,000 and $240,000, at a median of $180,000. Across the Buena Vista neighbourhood, 59 sale deeds were recorded from November 2024 to October 2025 at a median of $70,000, a median that includes lot sales from $3,500.