The Real Deal Miami

Auction set for foreclosure portfolio

February 08, 2010 01:56PM

A three-building bundle of Fort Lauderdale commercial and residential
property, whose owner recently lost a $4.3 million foreclosure suit, is heading to the auction block Feb. 23. The properties are as follows: A 15,204-square-foot
professional services building at 1212 E. Broward Boulevard, purchased for
$2.5 million in 2006; a 2,726-square-foot office building at 105 N.E.
Third Street, bought for $1.1 million in 2005; and a 1,337-square-foot
residential property, at 442 N.E. First Avenue, bought for $285,000 in
2004. Lender 1st National Bank of South
Florida, based in Homestead, foreclosed on the properties, owned by
Glenn Wright
Construction & Development affiliates GW 120 LLC, GW 1212 LLC, Blair
International and managing
member Glenn Wright, in a suit tried in Broward County Circuit
Court.  Wright’s company also lost foreclosure suits
filed by National City Bank and JPMorgan Chase in November and December. [SFBJ]