The Real Deal Miami

Office park hit with foreclosure suit

September 30, 2009 12:28PM

The Wellington Reserve Office Park in Palm Beach County is facing a foreclosure lawsuit based on its $29 million mortgage originally issued by National Bank in 2007 on the 20-acre property. Centerline Servicing, a special servicer for the Morgan Stanley Capital CMBS fund, which invests in commercial mortgage-backed securities, now owns the mortgage and has filed a suit against owner Ching Enterprises and Shin Ching.