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South Florida

JPMorgan CMBS fund forecloses on three Lauderhill industrial sites

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A JPMorgan Chase CMBS fund has filed a foreclosure action against
Steven J. Cooperman as trustee for the property owner of three
industrial sites in Lauderhill. The foreclosure involves three
buildings, at 1711, 1782 and 1823 N.W. 38 Avenue in Lauderhill. The
buildings were purchased in 2002 for $3.8 million. Miami Beach-based
LNR is the loan’s special servicer. Data from the Trepp company showed
that there was more than $3 million outstanding on a $3.3 million
mortgage issued five years ago. The action was filed in Broward County
Circuit Court. [SFBJ]

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JP MorganLnr PartnersTrepp