The Real Deal Miami

Hallandale condos foreclosed

December 05, 2008 11:49AM

Miami-based Ocean Bank filed a $2.3 million foreclosure lawsuit against
a developer who converted a 32-unit building in Hallandale Beach into
condos. Only four of the units sold, and 15 could not be rented out,
according to the complaint, filed in Broward County Circuit Court. The
bank seeks to foreclose on the remaining 28 units at 321 NE First
Court in southeastern Broward County and named Terra Conversions and
officer Juan Arcila in its suit.