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This is a mortgage foreclosure and contract enforcement action brought by PR Recovery and Development REO, LLC against Cadamar, Inc. and three individuals. The lender is foreclosing on two separate properties to recover $260,043.26 owed as of October 2020, including $160,076.55 principal, $99,966.71 accrued interest compounding daily, and $12,000 in costs and legal fees. The first property is a 4,499.497 m² rural lot in Añasco with a $60,000 minimum bid. The second is an 84,642.9459 m² rural parcel in Hormigueros with a $40,000 minimum bid. Both mortgages originated with the Banco de Desarrollo Económico para Puerto Rico in February 2009 and were later assigned to the plaintiff. The Añasco property is free of prior liens, while the Hormigueros parcel is subject to easements for the water authority, the Commonwealth, and the telephone company, plus restrictive covenants. Investors should confirm title, lien status, physical condition, access, and zoning before bidding. Cash or certified check required.
Carretera 108, Km. 7.4 Lote 9 · 00610 · Puerto Rico
Lot 9, Carretera 108 Km. 7.4, in the Río Cañas and Río Cañas Abajo wards of Añasco. The 4,499.497 m² parcel is bounded north by public use land, south by remainder of the principal farm and existing public land, east by public land and Lot 8, and west by the remainder of the principal farm. Recorded at folio 117, volume 275 of Añasco, property number 11,835.
| Round | Date | Time | Price | Status |
|---|---|---|---|---|
First auction | Jul 30, 2026 | 9:30 AM | $60,000 | passed |
Second auction | Aug 6, 2026 | 9:30 AM | $40,000 | passed |
Third auction | Aug 13, 2026 | 9:30 AM | $30,000 | passed |
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View pricingThis sample combines multiple recorded sources, including any likely auction transfer inferred from a public record dated within nine months after a scheduled auction. Transactions below $25,000 are excluded from market statistics. Directional confidence. Use this sample as market context. It is not a complete sales ledger. Sample refreshed Jun 2026.
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