Segundo Garcia Caban, Esq.  General Counsel and Partner

         Born in Aguadilla, Puerto Rico. Juris Doctor Cum Laude, University of Puerto Rico School of Law; BBA, Business Administration (Accounting) Magna Cum Laude, University of Puerto Rico Business School. 

 

          Mr. García was accounting professor at the University of Puerto Rico and has participated in several seminars offered by Wharton School, University of Pennsylvania; New York University; San Francisco University; the U.S. Treasury Department; the American Bar Association, the American Law Institute and the Practicing Law Institute dealing with public/private, partnerships, project finance, corporate, trust, estate real estate syndication, commercial leases, construction contracts law, construction litigation and arbitration, business reorganizations, corporate reengineering, real estate development, construction and commercial financing, international taxation and planning, among others.

 

Professional Experience

 

          1. Corporate and Business Experience

 

          Mr. García is a former professor of accounting at the University of Puerto Rico, senior tax manager at Price Waterhouse & Co. and in another international CPA firm, and general counsel for a major construction company and counsel of developers in Puerto Rico.

 

          Considerable experience in most fields of real estate financing, construction law, real estate development law, corporate and business and tax laws.  As consultant and legal advisor has been involved in several complex business transactions, including, but not limited to formation of private/public partnerships; concession agreements, service agreement, structuring and negotiation of major project financing mergers and requisitions. Some transactions follows.

 

          2. Public-Private Partnership and Deals with the Government

 

As counsel for Plaza La Marina LLC, Mr. Garcia negotiated with the Puerto Rico Land Administration (Land Administration) during year 2016 two (2) development agreements for the development and construction of a mix-use real estate project consisting of commercial, residential, hotel and parking buildings with an estimated cost of $120 million.

 

During 1989 to 1992 Mr. Garcia Served as legal counsel for Autopistas de Puerto Rico & Cia., S.E. (APR) during the preparation of a proposal in response to a Request for Proposal (RFP) for the design, financing, construction and operation (DBTO) of a $126 Million new Toll Bridge over the San José Lagoon in San Juan on the basis of public/private partnership. After the award, he participated (representing the developer) in the negotiation of the legal, business and financing aspects of the DBTO contract (a concession agreement). This was the first concession agreement of this nature (a public-private partnership) in Puerto Rico. He was the lead counsel together with the principals of the APR joint venture of Dragados y Construcciones S.A. from Spain and Rexach Construction Company of Puerto Rico. Also participated in the negotiation of all the documents for the issuance in 1992 of $116 Millions in revenue bonds to build said Bridge, to which the Federal Highway Authority granted a Creative Financing Award.

 

          He also served as Treasurer and member of the Board of Directors of APR from 1991 to 2004, in which he actively participates in the financing, operation and administration of the Toll Bridge. From 2001 to 2003 was actively involved in the negotiation and documents preparation of a new bond issuance of $153 million to refinance APR’s original $116 Million bonds financing issued in April 1992.

 

          As legal counsel for Autopistas de Puerto Rico & Cia., S.E. (APR) during 1992 he was the principal legal negotiator of a preliminary concession agreement for the design, financing, construction and operation of a $220 Million new toll road from Carolina to Río Grande, known as Route 66, on the basis of public/private partnership.

 

          When the Puerto Rico Aqueduct and Sewer Authority (PRASA) issued a Request for Proposal (RFP) in 2002-03 for the operation and maintenance (O&M) of all its water and sewer systems throughout the Island, Mr. Garcia participated with Ondeo, a French company, in the entire process.  After Ondeo was awarded the O&M contract, he continued to serve as outside counsel for Ondeo’s general manager in Puerto Rico.  

 

In addition, Mr. García was the legal counsel during the preparation of the Proposal in response to the RFP issued by the Land Administration for a Master Development Agreement and the acquisition from the Government of the entire Old San Juan Waterfront Project (consisting of more than eight parcels of land) and the construction of a mix-use project with a value in excess of $150,000,000. The contract was awarded to Mr. Garcia’s client, Paseo Portuario and Company, S.E., and he was the lead counsel in the negotiation of the Master Development Agreement. This project, known as Paseo Portuario, required from 1990 through 2010 various different legal and construction set-ups and financing, including but not limited, to the negotiation of the construction and permanent financing with financial institutions that provided (i) $12 Million for Reina de Castilla Condominium, (ii) a $38 Million hotel and casino, (iii) a multipurpose parking and commercial project developed at a cost of $16 Million and (iv) the Harbor Plaza residential/commercial condominium at a cost of $53 Million. Mr. Garcia was the legal counsel for the developer in the negotiation, financing and construction of the entire project.

 

  3.  Tourism and Recreational

 

          As legal counsel of the developer had a leading role in the negotiation of the development, financing and construction of the $38 Million for Wyndham Old San Juan Hotel and Casino as part of the Paseo Portuario project. Also negotiated with the Tourism Development Company for the financial contribution of more than $7 Million by said public corporation for the development of the hotel. Had a leading role in the negotiation of the financing and management of the Wyndham Hotel & Casino in Old San Juan from 1997 to 2002 as representative of one of the three partners that had the oversight of the operations and economic results of the hotel and in the negotiation and sale of the Wyndham Hotel in 2003 while the hotel was operating.

 

4. Private Real Estate Development, Financing and Management

 

Mr. Garcia has had major roles in the development, construction and management of commercial and office buildings and multiple housing units projects; negotiation of construction and sale of condominium units; negotiation of construction loans and leasing of high rise office buildings. In addition, participated in the development of a golf course and villas resort.

 

          He was consultant and legal counsel in the financing and development of the 172,000 square feet building in Caparra, formerly known as BBV Plaza and now known as “Plaza Triple S” (with parking facilities for more than 650 cars) at an approximate cost of $24 Million. Prepare office and retail leases and managed, together with one broker, the negotiations of sales and leasing of said office building until the entire building was leased and partially sold. Latter on, all the existing leases were sold.

 

          As legal counsel he handled the negotiations and acquisitions of several industrial and warehouse buildings their leases, management and later sale.

 

          Mr. García has also been involved in the development, construction and financing of several single housing and condominium residential projects involving more than $120 million such as, but not limited to, (i) 168 villas in Costa Dorada I and II Villas for a resort in Dorado; (ii) over 600 units in Parque del Río, Parque del Monte and Estancias housing projects in Caguas; (iii) over 400 units in San Fernando housing project and Golden Tower condominium in Carolina; and (iv) over 100 units in Playablanca and the Galaxy Condominiums in Isla Verde, among others. He has also been involved in the management of two shopping centers for more than five (5) years. Negotiated the acquisition by himself of one of said shopping centers and continue to manage its operations until it was sold two years later at a substantially higher price.

 

          5. Corporate Reengineer and Workout

 

He also managed financial restructure and workout of companies in financial problems. Participated in a leading role in designing and implementing a program of corporate reengineering to increase productivity and profitability by simplifying process and automation. 

 

6. Dispute Resolution in Corporate, Contracts and Construction Law

 

          Mr. García has also been involved representing owners, developers, general contractors and subcontractors in several contract and construction disputes, subject to negotiation and/or litigation and or arbitration. 

 

          Successful cases involved claims against private business entities and government agencies, among others, for extended overhead, damages for delay, disruption, inefficiency, differing site conditions, defective plans and specifications. Other defendants involve subcontractors, hospital owner, shopping center and building owners regarding disputes over active interference, failure to coordinate contractors, breach of implied obligations, delay of approvals, and delayed administration of change orders, extended overhead, among others. 

 

          Mr. García was involved in the Hotel Dupont Mass disaster litigation and the client (a defendant) was one of the few that received a successful veredict . He also participates in a $70 Million litigation for breach of contract, another litigation of a $21 Million for breach of contract (no renewal of the contract by the government) and a $200 Million pre-contract  concession litigation.

 

          Mr. García is admitted to practice law before the Commonwealth of Puerto Rico General Courts of Justice, the United States District Court for Puerto Rico and the U.S. Court of Appeals for the First Circuit.