The Shoppes on the Green
Weston’s Shoppes on the Green has joined the list of South Florida’s largest delinquent commercial property loans, according to data from analytics firm Trepp prepared for The Real Deal.
The retail property was current in December, but is now listed as 60 days delinquent on its $14.65 million loan. Trepp’s data looks at commercial properties that are 60 days or more delinquent on loans with balances of greater than $1 million. [more]
South Florida has the top housing market in the country, Weston, and the worst, Homestead, according to a survey by Businessweek. Weston has seen a 15.1 increase in home values since 2009, while Homestead’s values have dropped by 48.8 percent in the last two years. Weston, where athletes from Dan Marino to Hanley Ramirez have lived, had a median sale price of $335,000 as of Aug. 31. Comments
Lender Textron Financial has filed to foreclose on Weston’s Bonaventure Country Club and its two golf courses, the South Florida Business Journal reported.
The suit targets the 36-hole, 233-acre golf courses at 200 Bonaventure Boulevard, along with the 26,690-square-foot clubhouse and a 4,575-square-foot storage building.
Tavor Holdings bought the country club for $10.5 million in 2002 with help from a $7 million mortgage from Textron, the Journal said. [SFBJ]
Protests have followed the receipt of higher property tax rate notices
in Miami-Dade and Broward counties. On Thursday afternoon, a group
calling itself Fair Property Tax For All coordinated a series of
protests at three sites in Miami-Dade County, and many Broward
residents in cities facing high increases have echoed that anger.
Hollywood, Miramar, Parkland, Pembroke Pines, West Park and Weston have
proposed increases of at least 20 percent to compensate for plummeting
assessed property values. [more]
Falling property values have forced Weston city officials to consider
raising taxes in an attempt to fill a $2.3 million gap in the city
budget. Though the town is cutting government positions and trimming
transportation services, hiking the tax rate to $1.76 for every $1,000
of taxable value from $1.52 would still require the city to dip into
$2.1 million in reserves. The town’s total property values decreased by
11.4 percent, from $8 billion to $7.1 billion. [more]
