Salsano Group plows $75 million into real estate investments on Puerto Rico

NEW YORK - Dec. 15, 2016 - PRLog -- Salsano Group, a Panama-based investment firm, today announced that it has acquired a 75 mio USD real estate portfolio together with a leading private equity group in Puerto Rico.

"Zika created great buying opportunity", declared Sandro Salsano, chairman and president of Salsano Group. "We believe that Trump administration will find a solution to the huge debt the island bears as well as the outflow of people".

The influx of the rich to Puerto Rico is in contrast to a massive migration out of the island. After nearly a decade in recession and an unemployment rate over 12%, many Puerto Ricans are booking one-way tickets to Florida, Texas and other parts of the mainland.

Hedge fund billionaire John Paulson has been investing over 1.5bn usd, predicting it will be the "next Miami."

Several companies moved or are moving to Puerto Rico under Puerto Rico's Act 20, which gives businesses that move to the island a 4 percent corporate tax rate and exemptions on dividends and property taxes.

About Salsano Group

Salsano Group is a private conglomerate investing globally in real estate, private equity and venture capital.