The Real Deal Miami

Developer Samuel Gaita facing foreclosure lawsuit for Miami-Dade County

March 28, 2013 03:00PM

Developer Samuel Gaita

Developer Samuel Gaita is facing foreclosure, following a lawsuit from Miami-Dade County, the South Florida Business Journal reported.

Samuel Gaita and his Gaita Gardens, a low-income apartment complex in Model City located at 1254 and 1260 NW 59th Street, had previously been bailed out by the county when facing another foreclosure lawsuit from a lender in 2008.

The county-backed mortgage rose to $1.15 million in 2012 with a maturity date in September 2011. However, the properties are currently valued at only $153,990. [SFBJ]Christopher Cameron