Coral Lake 260, a subsidiary of Coral Gables-based developer BH Capital, which converted the Crescent Cove Condominiums in Coral Springs, now faces foreclosure. The company owes more than $9.6 million on a mortgage held by Ocean Bank. Coral Lake 260 bought the 260-unit Crescent Cove in July 2005 for $33.8 million. At the time, Ocean Bank wrote it a $31.7 million mortgage. Ocean Bank also has foreclosure lawsuits pending against two other BH Capital affiliates.
Coral Springs condo enters foreclosure
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