The Real Deal Miami

Palm Springs complex faces foreclosure

June 01, 2009 12:48PM

The Village Club Apartments, a 314-unit complex in Palm Springs, faces foreclosure. It is the second suit in the region for developer Ceebraid-Signal Corp., which faces the litigation through its affiliate company CSC Village Club Apartments. The developer last modified its mortgage in 2006, adjusting it to $26.7 million for the complex at 550 Purdy Lane in Palm Springs, east of Military Trail and south of Forest Hill Boulevard. The developer’s Holiday Isle Beach Resort and Marina in the Florida Keys also faces foreclosure.