The Real Deal Miami

Posts Tagged ‘foreclosure’

  • Plantation office landlord in $8.16 million foreclosure

    U.S, Bank claimed default on a 10-year mortgage loan secured by Atrium Executive Plaza
    November 22, 2015 02:00PM
    U.S. Bank sued the owner of the Atrium Executive Plaza in Plantation and a daycare center.

    The lender sued the owner of Atrium Executive Plaza and a daycare center.

    the len

    U.S. Bank filed a foreclosure suit against the corporate owner of an 86,733-square-foot office building in Plantation.

    U.S. Bank filed a complaint listing an $8.16 million balance on a 10-year mortgage loan secured by the Atrium Executive Plaza building at 499 Northwest 70 Avenue.

    The bank, which filed suit on behalf of a commercial mortgage-backed securities trust, claims the borrower missed a payment due in March and that the 10-year loan matured in April. [more]

  • Tibor Hollo firm sues Florida Grand Opera over loan

    The developer's Financial Markets LLC claims $2 million principal balance in foreclosure suit
    November 01, 2015 12:00PM
    The Florida Grand Opera headquarters in Doral.

    The Florida Grand Opera headquarters in Doral.

    A company headed by developer Tibor Hollo  filed a foreclosure lawsuit against the Florida Grand Opera after it defaulted on a mortgage loan secured by its headquarters in Doral.

    Susan T. Danis, chief executive officer of the Florida Grand Opera, said the headquarters building is under contract to be sold and the proceeds would be sufficient to pay off the loan. She also said the opera company might relocate after selling its Doral [more]

  • OptimumBank forecloses loan for former hospital

    The bank hasn't yet scheduled an auction of the old Parkway West Regional Medical Center
    October 24, 2015 11:00AM
    The former Parkway Regional Medical Center (Credit: Miami UrbEx)

    The old Parkway West Regional Medical Center in Miami Gardens. (Credit: Miami UrbEx)

    Fort Lauderdale-based OptimumBank won a $2.93 foreclosure judgment after borrower defaulted twice on a mortgage loan secured by a former hospital in Miami Gardens.

    The 11-story property at 17300 Northwest 7 Avenue, formerly known as Parkway West Regional Medical Center, is vacant and in poor condition.

    OptimumBank filed a foreclosure suit in January against the property’s former owner, BSD of Miami Gardens LLC, and the company’s managing members Moris Schlager and Yaniv Nakash.

    The bank withdrew the suit in May after [more]

  • Palm Beach Gardens hotel lost to foreclosure

    Three-building, 8-acre property includes 279 guest rooms and conference center
    October 13, 2015 03:45PM
    The DoubleTree hotel in Palm Beach Gardens

    The DoubleTree hotel in Palm Beach Gardens

    A Hilton-branded hotel complex in Palm Beach Gardens was just sold for $31.4 million to satisfy a foreclosure lawsuit. [more]

  • River Landing project in Miami faces foreclosure suit

    Architecture and engineering firms have filed liens against the developer, too
    September 13, 2015 12:00PM
    Renderings of the River Landing project and (inset) developer Andy Hellinger.

    Renderings of the River Landing and (inset) Andy Hellinger.

    A lender has filed a foreclosure suit against the developer of River Landing. a residential and retail project in Miami along the Miami River.

    An architectural firm and an engineering firm also have filed liens against the developer, River Landing Development, headed by Andrew Hellinger.

    The developer defaulted on a $38.19 million mortgage loan from Eastwatch Holdings, the lender charged in [more]

  • Miami Gardens warehouse headed for auction

    Built in 1975, the 43,974-square-foot building last sold for $1.78 million in 1998.
    July 18, 2015 10:35AM
    The online auction is set for Aug. 17.

    The online auction is set for Aug. 17.

    The owner of a Miami Gardens warehouse faces a $3.7 million foreclosure judgment and the property is scheduled for a foreclosure auction.

    U.S. Bank represented a securitized commercial mortgage trust in winning the judgment against  the warehouse owner, 5244 Holdings, together with its managing members, Ricardo Julio Arias and Ana Maria Arias.

    The warehouse at 5255 Northwest 165 Street, which measures 43,974 square feet, is scheduled for an online [more]

  • Florida’s foreclosure prevention program shifts tactics

    $1B Hardest Hit Fund would give cash for home down payments
    April 06, 2015 11:15AM

    A foreclosed home up for sale

    Florida’s $1 billion foreclosure prevention program, which has historically helped homeowners fight off bank repossessions with mortgage assistance, might start pitching in for first-time homebuyers’ down payments.

    The proposal would earmark $50 million for down payments from the federal Hardest Hit Fund, which was created with taxpayer money, a publication reported. [more]

  • $37.5M foreclosure biggest of the year: report

    The Centre on 441 tops list; two hotel properties, land and office property round out top five
    December 12, 2014 01:41PM
    Foreclosure sign

    $37.5 million foreclosure biggest of the year.

    A $37.5 million action on retail property The Centre on 441 topped the list of South Florida foreclosures in 2014, according to a published report.

    The foreclosure was brought by Minnesota-based U.S. Bank (CMBS), representing a securitized commercial mortgage.


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  • Miami office building faces second foreclosure suit

    Building was first subject to lawsuit in 2012
    November 26, 2014 05:05PM
    Foreclosure sign

    Beneficial Funding Corp. filed second suit.

    An office building in Miami-Dade has been served with a second foreclosure lawsuit.

    In Miami’s Little Havana neighborhood, Hibiscus Properties and managing member Nancy Babe are facing their second foreclosure lawsuit in three years, according to a report. Beneficial Funding Corp. filed the lawsuit over a three-story, 51,100-square-foot office building located at 42 Northwest 27th Avenue. [more]

  • Foreclosed Palm Beach mansion back on the market for $12.5M

    The mansion had listed for as high as $18.9 million before foreclosure
    November 25, 2014 12:45PM

    A Google Maps satellite view of the mansion

    A Palm Beach oceanfront mansion that was mired in several years of foreclosure proceedings is reportedly back on the market for $12.5 million.

    Casa Bella Riente, a 13,000-square-foot estate located at 3621 South Ocean Boulevard in Palm Beach, first went into foreclosure in 2008. In September 2013, a final judgement was rendered in favor of the bank for $17.8 million. [more]