The Real Deal Miami

Woolbright faces another foreclosure

October 16, 2009 10:36AM

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Duane Stiller, president of Woolbright Development

Shopping center specialist Woolbright Development has a third property headed to foreclosure. Lender PNC Bank filed the action Oct. 7 against Plaza at Coral Springs II and Duane Stiller, president of the Boca Raton-based development company, according to Broward County Circuit Court records. Pittsburgh-based PNC wrote a $29.9 million mortgage to Woolbright in 2007 when the developer bought the shopping center for $22.6 million and began renovation. Woolbright Development was hit with its first foreclosures in August, when Guaranty Bank filed lawsuits against West Sunset Square in Kendall and Wekiva Riverwalk in Apopka. [SFBJ]