The Real Deal Miami

Plantation Fashion Mall in foreclosure suit

May 12, 2010 09:23AM

An affiliate of Palm Beach-based Menin Development, 324 Capital Partners, has filed a foreclosure action against US Capital
Holdings/Fashion Mall and its guarantor Wei Chen. According to Broward
County Circuit Court records, the mortgage involved was issued in
October 2009 for $2 million. The Fashion Mall in Plantation has been
closed for three years, and its Chinese owner has plans to build a
mixed-use development called 321 North, on the site of the
660,000-square-foot mall at 321 North University Drive. US Capital
first acquired the mall in 2004, but it was damaged in Hurricane Wilma
and prime tenant Macy’s left the site. [SFBJ]