The Real Deal Miami

SunTrust files suit to seize 16 acres of PB County farmland

January 13, 2014 03:00PM

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qureshi

Mahammad Qureshi

Georgia-based SunTrust Bank filed a foreclosure lawsuit earlier this month in an effort to seize nearly 16 acres of farmland in Delray Beach in Palm Beach County.

Investment Group Two owns both agricultural sites, located at 15621 South State Road 7 and along El Paraiso Place. The group acquired them in a $10 quit claim deed from managing member Mahammad Qureshi of Tierra Del Rey 441. Six years ago, a mortgage on the properties was approved for a total of $2.7 million.

Qureshi has owned several grocery stores and gas stations in Florida that too fell into foreclosure. [South Florida Business Journal]Mark Maurer

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