The Real Deal Miami

PGA Commons 1 in Palm Beach Gardens loses $8.7 million foreclosure suit

August 27, 2012 03:00PM

Palm Beach Gardens’ PGA Commons 1, an open-air retail center, is set for auction this October after losing an $8.7 million foreclosure case, the South Florida Business Journal reported. LBUBS 2003 C8 PBG Retail, representing a commercial mortgage-backed securities trust, brought the case against the 4-acre property, located at 5540 PGA Boulevard, over a delinquent $6.8 million mortgage, plus fees and interest. The property is composed of two buildings totaling 40,600 square feet. [SFBJ]Christopher Cameron