The Real Deal Miami

Fort Lauderdale’s Cypress Creek office tower facing $6M foreclosure

January 21, 2013 12:00PM

Cypress Creek Tower

The Cypress Creek Tower in Fort Lauderdale is facing foreclosure following the loss of its anchor tenant, Wells Fargo, the South Florida Business Journal reported. An LLC representing a commercial mortgaged-backed security filed the lawsuit last week, against Cabot Cypress Creek Tower 1 LLC — an affiliate of Boston-based Cabot Investment Properties, which has two other Broward County office buildings in CMBS foreclosure. The new lawsuit concerns a  $6 million outstanding loan to the 67,222-square-foot office building, which has not been paid since June. Cabot Cypress Creek Tower is located at 800 W. Cypress Creek Road. [SFBJ]Christopher Cameron