West Palm loft company files for bankruptcy

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The Lofts on Clematis, a small real estate company in West Palm Beach,
has filed for Chapter 11 bankruptcy. Grand Bank NA of New Jersey has a
$2.2 million claim on the company, which owns a small but prominent
property at 105 S. Narcissus Avenue, Suite 200, in downtown West Palm
Beach. Leonard Mercer, a well-known South Florida real estate
businessman, signed the bankruptcy as a manager.