Foreclosure at Bank of America Centre in West Palm Beach

The Bank of America Centre at 625 North Flagler Drive in West Palm Beach has been targeted for foreclosure, the South Florida Business Journal reported. Wells Fargo filed the lawsuit against I&G Direct Real Estate 14, a New York-based company on the hook for the loan. The mortgage on the property was made for $18.55 million in 2005, the Journal said, and has that same amount outstanding with a 4.92 percent interest rate and a 2015 scheduled maturity date. [SFBJ]