The Real Deal Miami

Site in Palm Beach Gardens set for foreclosure sale

October 28, 2008 01:56PM

A 41-acre site on Hood Road in Palm Beach Gardens, purchased for $6 million in 2003, is scheduled for a public foreclosure sale on November 24. The developer, a subsidiary of EB Developers, planned to build townhouses and commercial space on the site, which had a mortgage of $25 million in 2006. AmTrust Bank filed for foreclosure on the site in May. Two other residential projects by EB Developers in Miami-Dade County have been part of foreclosure lawsuits since
February.