The Real Deal Miami

Foreclosure sought for S. Miami-Dade Development

September 12, 2008 11:13AM

Regions Bank wants its unfinished 614-unit town home project in Florida City back. The bank initiated a foreclosure lawsuit last month against developer 70 Acres Florida City, of Miami, and named the co-guarantors of the mortgage, Armando and Antonio I. Alonso, Orlando Bordes and Florida City Holdings. Regions made a total of $16.3 million in loans to the project in Miami-Dade County’s southernmost municipality.