It is based in Penonomé, Coclé Province, and is the first panamanian team to play on a privately owned stadium facility.

In 2018, financial problems forced Chorrillo FC to merge with CD Centenario and Panama City's Universidad Latina, the new name agreed is Club Deportivo Universitario.

Parts of the agreement included that the team will be relocated to Penonomé on the Province of Coclé from Panama City´s El Chorrillo neighborhood, a construction of the new stadium that would be completed on late March 2019 and relocate/lease CD Centenario team from Penonomé to Colón Province as New York FC/Centenario.

The El Chorrillo district was heavily bombard by the United States Army during Operation Just Cause.

[5] Note: Flags indicate national team as defined under FIFA eligibility rules; some limited exceptions apply.