The Real Deal Miami

Posts Tagged ‘bank of america’

  • Avison Young sells office building within 90 days

    The brokerage closed the sale of the the six-story building on behalf of an unidentified seller
    October 24, 2015 01:00PM
    Bank of America Center in Coral Springs.

    Bank of America Center in Coral Springs.

    Brokerage firm Avison Young said it completed the sale of a 50,000-square-foot office building in Coral Springs within 90 days of listing the property.

    Avison Young said the Bank of America Center was listed for sale without an asking price. Terms of the sale were not disclosed.

    Broward property records show the building was owned by Realty Associates Fund VII, managed by Boston-based TA Realty, an investment adviser and asset management firm. The last purchase price was $8.5 million in 2005. [more]

  • Banks reject 72% of applicants under HAMP program

    The Treasury Department's mortgage modification program has disappointed
    August 09, 2015 11:01AM
    HAMP has a small impact

    HAMP has had a small-scale impact.

    Disabled and unable to work, Vermont home owner Lucy Circe applied for a modification to her mortgage loan from Bank of America. The bank made error after error in processing her application. Bank of America frequently asked for document copies it already had, asked Circe to prove she was no longer married to a man whom she did not know, and asked why she wanted to dispose her property, even [more]

  • Lennar CEO takes out $41M loan for Star Island home

    Design board approved plans for new two-story mansion in April
    June 09, 2015 05:30PM
    Lennar CEO Stuart Miller and 22 Star Island

    Lennar CEO Stuart Miller and 22 Star Island

    Lennar CEO Stuart Miller landed a $40.5 million loan for his residential property at 22 Star Island, according to Miami-Dade County records.  [more]

  • Las Olas City Centre 100 percent leased

    Early renewals accounted for 80 percent of the leases
    May 19, 2015 06:00PM
    Bank of America Las Olas City Centre

    Bank of America Las Olas City Centre

    Nearly 120,000 square feet in new leases and renewals brings the Bank of America Plaza at Las Olas City Centre to 100 percent leased, according to Stiles Realty. [more]

  • Fort Lauderdale property leased to Bank of America trades

    Bayrock Investment Co. pays about $9.3 million for Federal Highway parcel
    September 08, 2014 10:30AM
    Mark Drazek

    Mark Drazek

    A Fort Lauderdale property leased to Bank of America changed hands for about $9.3 million.

    Bayrock Investment Co. of Charlotte acquired the 4901 North Federal Highway property, according to Monday’s announcement from real estate firm CBRE, which arranged the transaction. Bank of America occupies a 5,835-square-foot single-tenant building at the site under a 20-year net lease. The property is part of a multi-parcel redevelopment of an existing Bank of America branch. [more]

  • Miami’s lawsuits against Bank of America, Citigroup tossed

    City claimed lenders targeted minorities, caused tax base to plunge
    July 11, 2014 09:45AM

    Gavel-new315-304A federal judge tossed lawsuits filed by the City of Miami against Bank of America and Citigroup over alleged predatory lending practices.

    The city claimed the banks essentially caused a foreclosure crisis by targeting minorities and led to its tax base plunging. But Judge William Dimitrouleas ruled Wednesday that Miami did not have grounds to sue Citigroup for economic losses. The judge made a similar determination Tuesday in the Bank of America case. [more]

  • Banks paid $9B to Florida mortgage holders

    Around 92,000 homeowners received money as part of state and federal agreement
    May 22, 2014 05:15PM


    Five national banks indicated today that they have finished paying $9.1 billion to Florida homeowners are part of a settlement with the state and federal officials.  [more]

  • Morgans refinances Delano South Beach

    Hotel part of $450 million transaction that includes Hudson in New York
    February 12, 2014 12:00PM
    Delano South Beach

    Delano South Beach

    Morgans Hotel Group has completed a $100 million refinancing of a credit facility secured by the popular Delano South Beach hotel.

    The transaction was part of a $450 million refinancing that includes the New York company’s Hudson hotel, Morgans announced Monday. Bank of America and Citigroup Global Markets Realty provided the financing. The new loan matures in February 2016, with three one-year extension options. [more]

  • Miami sues major banks over predatory lending

    City claims Fair Housing Act violated in federal lawsuit
    December 20, 2013 12:00PM

    gavThe City of Miami believes three of the biggest banks in the world violated the Federal Fair Housing Act.

    A federal lawsuit has been filed by the city against Bank of America, Citigroup and Wells Fargo over alleged predatory lending, the Miami Herald reported. The city claims it has lost substantial property tax revenue from foreclosures filed by the banks. The lawsuit accuses each bank of regularly giving loans to minority borrowers in the city under different terms than white borrowers over the last decade. [more]

  • From the New York site: Fresh off an August lawsuit over an $850 million mortgage bond, Bank of America is set to face three more Justice Department civil probes over risky mortgage-backed securities packaged by subprime lender Countrywide Financial, which they purchased in 2008. [more]