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Local group acquires IGP.

A group of local investors, under the name of Partners Business Group (PBG), completed the acquisition of Interstate General Properties LP, SE (IGP) for US$14.3 million, previously wholly owned by American Communities Properties Trust (ACPT), reports Caribbean Business (Dec. 24, 2009). It will retain 102 employees from IGP; group and now controls 3,571 of Section 8 subsidized housing units on the island. ACPT, with operations in Maryland and Puerto Rico, is the developer of Parque Escorial and Parque El Comandante planned communities.
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Title Annotation:PUERTO RICO
Publication:Caribbean Update
Date:Jan 23, 2010
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