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The Real Deal Miami

Five KFC franchises in foreclosure

February 09, 2011 10:11AM

North Miami Beach-based Kazi foods could lose five KFC restaurants to
foreclosure, with a total of $23.1 million involved in two lawsuits.
Colonial Pacific Leasing’s lawsuit is targeting two mortgages for $9.6
and $9.5 million, while a separate suit, by General Electric, involves a
$4 million mortgage made in 2006. The five KFC franchises include one
located in Carol City and four in Miami. The foreclosures were filed
Feb. 2, with Citicorp Leasing assigning all of the loans to the
plaintiffs. [SFBJ]