The Real Deal Miami

Florida foreclosures continue

August 14, 2009 01:48PM

Jupiter-based developer Pebworth Properties and President David L. Steinhauer face a $6.5 million foreclosure suit over the Promenade Shoppes at Pine Gardens in Jupiter. Wells Fargo filed suit July 31. The complaint says the entire amount of principal is in default and due. It also asks for the appointment of a receiver. Tenants at Promenade Shoppes include Atlanta Bread Co., Scottrade, Aspen Falls Aveda Salon & Spa, and Big Apple Pizza and Pasta. Bank of America has foreclosed on the 239-unit Silver Blue Lake
Apartments in northern Miami-Dade County. The bank filed the
foreclosure action on August 6 against North Miami-based 103 Silver
Blue Lake Apartments and principals Hillel Bronstein and Zvi Shiff. UBS
Real Estate Investment gave the developer an $11.8 million mortgage in
2005. The mortgage was later securitized. [SFBJ] and [SFBJ]