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South Florida

Mellon forecloses on One Flagler

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Mellon United National Bank has filed a foreclosure notice against One Flagler, a Miami office tower. Nexus Development reportedly owes $33 million on its current loan and hasn’t made a payment since January 10. The developer bought the 14-story building in 2005 and began trying to convert it into office condominiums. The project was scheduled to be done by 2008. 

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Foreclosures