The Real Deal Miami

Posts Tagged ‘foreclosure’

  • WPB industrial park facing foreclosure

    CMBS lender targets nearly 150,000 square feet of warehouses
    September 15, 2014 03:45PM
     1700 Latham Road in Wedt Palm Beach

    1700 Latham Road in Wedt Palm Beach

    An industrial park near West Palm Beach is facing a $10.1 million foreclosure lawsuit.

    U.S. Bank, representing a commercial mortgage-backed securities trust, filed a foreclosure lawsuit against Okeechobee, formerly known as Latham Road Commerce Center, according to the South Florida Business Journal. [more]

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  • Two Banker’s Row office buildings face foreclosure

    GE Cap aims to seize properties at 230 and 240 Royal Palm Way
    September 08, 2014 03:45PM
    230 and 240 Royal Palm Way

    230 and 240 Royal Palm Way

    Two neighboring office buildings on Palm Beach’s Banker’s Row are facing foreclosure. [more]

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  • Foreclosures still on the decline across South Florida

    But Florida leads the nation in filings for the tenth consecutive month
    August 14, 2014 04:30PM

    foreclosurefinal

    New foreclosure filings remain on the decline across South Florida, according to RealtyTrac data. [more]

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  • Another alleged foreclosure rescue scam uncovered in Florida

    Florida attorney general files joint lawsuit against Tampa law firm, several others
    August 11, 2014 01:30PM

    Gavel-new315-304Another Florida law firm was shut down by authorities over an alleged foreclosure rescue scam.

    The Tampa-based Berger Law Group and several other entities and individuals were named in a federal lawsuit filed in the Middle District of Florida. Berger and the other defendants are accused of getting millions of dollars from homeowners across the nation through what are known as “mass joinder” lawsuits. Florida’s attorney general office worked with its counterpart in Connecticut on the investigation and suit. [more]

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  • South Florida foreclosures led nation in June

    Annual figures show activity in region is down, however
    July 17, 2014 04:30PM

    foreclosurefinal

    With 1.65 percent of its homes facing foreclosure, South Florida posted the country’s highest foreclosure rate in Florida in June, according to RealtyTrac. [more]

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  • Significant drop in foreclosures in Palm Beach County

    The number is down 50 percent compared to the same time last year
    July 16, 2014 05:15PM

    foreclosure1-266x151

    Foreclosures are down in Palm Beach County.

    During the first half of the year, the number is down 50 percent compared to the same time in 2013. There were 3,199 new foreclosures filed between January and June, the lowest amount since 2006 when 1,886 foreclosures were filed during the same period. [more]

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  • Lennar snags Lake Worth site at big discount

    Miami homebuilder buys repossessed development for $3.25M -- 43% off mortgage
    July 07, 2014 04:30PM
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    Lennar Homes

    Miami-based Lennar Homes purchased a 20.5-acre site from OptimumBank for $3.25 million last week, closing the deal at a 43 percent discount to its foreclosed mortgage.

    The agricultural site, which sits west of Lake Worth, was seized by the Plantation-based bank in 2011 after it foreclosed on Marquez Jones Joint Venture’s $5.67 million mortgage. [more]

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  • Coral Gables office condos face foreclosure

    West End Trust files suit over mortgages totaling $3.5M
    July 03, 2014 04:37PM

    simi_valley_foreclosures-signA foreclosure lawsuit filed by Miami-based West End Trust has targeted a commercial condominium building in Coral Gables.

    West End Trust filed the lawsuit against Urbanism 814, which owns the property at 814 Ponce, on June 27. The lawsuit concerns two mortgages that were modified for a combined $3.48 million in 2010 by U.S. Century Bank. The Doral-based bank then sold the mortgages to West End Trust in 2012.

    Urbanism 814 purchased 23 of the office condos in 2007, in addition to a 13,472-square-foot parking lot, but managed to sell only 18 of the units.

    [more]

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  • Village Shoppes in Royal Palm Beach face foreclosure

    Another suit filed against owner of retail buildings on Southern Boulevard
    June 02, 2014 05:15PM
    Village Shoppes in Royal Palm Beach

    Village Shoppes in Royal Palm Beach

    Both phases of the Village Shoppes in Royal Palm Beach are now in foreclosure.

    Sutherland Asset I, an affiliate of New York-based Sutherland Asset Management, has filed a foreclosure lawsuit against the Centre II, along with managing members Joseph Cogen and Alan Cogen. The lawsuit concerns a mortgage last modified at $11.1 million in 2010, according to the South Florida Business Journal. [more]

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  • Property owner avoids foreclosure by selling to himself

    Ruderman sold the property to his own company for $5.5M
    June 02, 2014 03:00PM
    7755 West 4th Avenue

    7755 West 4th Avenue

    An industrial building in Hialeah has been saved from foreclosure after the owner sold the property for $5.5 million — to himself.

    Miami attorney Geoffery Aaronson told the South Florida Business Journal that the buyer is the same ownership group as the seller. [more]

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