Tampa’s downtown iconic “Beer Can” building was sold recently for $22 million in a foreclosure sale after fetching $35 million during the real estate boom six years ago. The new owner of the 31-story building is Palm Beach County-based In-Rel Properties. The cylindrical real estate was the property of America’s Capital Partners of Miami, but [...]
The $4.9 billion Ginn sur mer resort project is more than 16 quarters delinquent totaling a $78 million in debt. The lenders, led by Credit Suisse urged the Supreme Court to allow them to foreclose on 1,476 acres of prima Bahamian real estate-. According to documents filed with the Bahamian Supreme Court last month, Credit Suisse [...]
Biscayne Harbour Shops retail center in Aventura was sold before it entered the foreclosure process. The company also used the strategy of buying its own loan to keep three other properties. The move comes after MUNB Loan Holdings, an affiliate of Bank of New York Mellon Corp. filed a foreclosure lawsuit last year against the [...]
The Old Spanish Village, located on 5.8 acres at Ponce de Leon Boulevard and Palmero Avenue has a new owner since Monday: Firstbank Puerto Rico won the foreclosure auction. FirstBank Puerto Rico used a bid based on its $83 million foreclosure judgment against the developer Ponce Circle Developers, which had a $60 million mortgage. The [...]
This isn’t the first foreclosure lawsuit Irwin Tauber, CEO of Bay Harbor Islands-based Taubco faces. It’s the fifth in a series of lawsuits but this one might be the last one, as it is the biggest foreclosure lawsuit which could result in the loss of his Causeway Square mixed-use project. Wells Fargo filed a foreclosure [...]
A portion of the Cortland Manor Apartment complex in north Hagerstown is scheduled for a foreclosure auction April 19, according to a legal notice issued by a Washington DC law firm, Seyfarth Shaw LLP. The auction targets 18 buildings containing 216 three-bedroom apartments, representing half of the 36 building, 431-unit complex completed in January 2010. [...]
Palm Beach Community Church in Midtown on PGA Boulevard is facing a foreclosure lawsuit. The non-profit church owes about $11.3 million in principal, about $846,000 in interest and about $58,000 in late charges, the complaint filed by PNC Bank in the Palm Beach County Judicial Circuit alleges. The original promissory note the church signed un [...]
Bank of America foreclosed on the Renaissance on the River building, becoming the owner of the real estate. The lender bought the commercial and residential Mediterranean building in downtown Fort Pierce after it was the sole bidder at the February 15 auction, said Robert Powell, and assistant supervisor with the St. Lucie County Clerk of [...]
LeBron James is making a splash in South Florida after joining the Miami Heat, but the Cavalier Hotel is going down. The lender, BDP Bank filed a foreclosure lawsuit against the property owner, Ocean Drive Investment, Cavalier Hotel and managing member Ralph Abravaya, the Miami-Dade County Circuit Court records show. The lawsuit papers talk about [...]
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