The Real Deal Miami

RocaPointe Capital picks up distressed Bay Harbor Islands loan

The outstanding mortgage is worth some $5.95 million

November 14, 2014 05:15PM

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1177 Kane Concourse in Bay Harbour Islands

1177 Kane Concourse in Bay Harbour Islands

An affiliate of RocaPointe Capital Miami picked up the mortgage of a Bay Harbor Islands property facing foreclosure.

In April, Everbank filed a foreclosure lawsuit against the 1177 Kane Concourse Partnership over a $5.95 million mortgage, according to the South Florida Business Journal.

EverBank has now sold that loan to GT RP Miami Fund, which is part of Patrick Leonard-managed RocaPoint Capital.

This is the second pending foreclosure RocaPoint Capital has against property’s managing parnters Martin and Andrew Taplin.

In October, the company filed a foreclosure lawsuit against the Taplin Company over an office building on Brickell Avenue. [South Florida Business Journal]Christopher Cameron

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