The Real Deal Miami

Nine Poinciana Park properties sell in short sale

June 19, 2009 01:58PM

Nine properties have sold in a short sale transaction in Fort Lauderdale’s Poinciana Park, between Andrews Avenue and Federal Highway on SE 22nd and SE 23rd streets and SE 4th Avenue. Coloney Ventures-Apex Capital sold the parcel of land, which includes single-family homes, duplexes and triplexes, for $1.15 million to Poinciana Group 22 LLC, according to a press release from the Foreclosure Response Team. The property was last purchased for $4.7 million in 2006 and had an outstanding loan of $3 million. Fifth Third Bank has waived the deficiency judgment against the seller, taking a $2 million loss. TRD