The Real Deal Miami

Owner of Pompano Beach medical office building files for bankruptcy

Estimated value of office building is $4.8M

December 18, 2014 12:45PM

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Andrews Square Medical and Professional Building in Pompano Beach

Andrews Square Medical and Professional Building in Pompano Beach

The owner of a Pompano Beach medical office building filed for Chapter 11 on Dec. 10 to stop a foreclosure action.

A foreclosure lawsuit was filed by 150 S. Andrews Acquisitions Group against Andrews Square Associates and Spectrum Health Solutions on Oct. 31, according to published reports. The company has $2.7 million in two mortgages with the lender, S. Andrews Acquisitions Group.

Andrews Square Associates and Spectrum Health Solutions estimated the value of Andrews Square Medical and Professional Building at $4.8 million, the South Florida Business Journal reported. The 50,535-square-foot office building is located at 150 Southwest 12th Avenue, just off of Atlantic Avenue and Andrews Avenue. [South Florida Business Journal] — Katherine Kallergis

 

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