Ft. Lauderdale office tower owner faces foreclosure

TRD MIAMI /
Nov.November 11, 2013 11:15 AM

The owner of a downtown Fort Lauderdale office tower has been hit with a foreclosure lawsuit.

A foreclosure action was filed on Oct. 31 against a company managed by Boston-based Cabot Investment Properties, South Florida Business Journal reported. U.S. Bank, which represents a commercial mortgage-backed securities lender, seeks to foreclose on a nearly $39 million loan secured by the 24-story Corporate Center. The bank is intervening in a 2012 lawsuit filed by South Florida Construction Associates over an unpaid contractor lien.

Corporate center, a nearly 369,000-square-foot office building at 110 East Broward Boulevard, was constructed in 1982 and renovated 17 years later. Tenants include Branch Banking & Trust, the Greater Fort Lauderdale Alliance and Silversea Cruises.

The Cabot company has not made a loan payment since January 2012. Cabot has had multiple Broward County office properties seized by lenders through foreclosure. [South Florida Business Journal] — Eric Kalis


Related Articles

arrow_forward_ios
Mike Napoli and 2501 Delmar Place (Getty, Coldwell Banker)

He’s out: Baseball’s Mike Napoli sells waterfront Fort Lauderdale mansion for $7M

He’s out: Baseball’s Mike Napoli sells waterfront Fort Lauderdale mansion for $7M
4 West Las Olas

Fort Lauderdale developers score $92M bridge loan for rental tower

Fort Lauderdale developers score $92M bridge loan for rental tower
John Moran Jr. and 5 Isla Bahia Terrace, Fort Lauderdale

Warehousing CEO pays $8M for waterfront Fort Lauderdale house

Warehousing CEO pays $8M for waterfront Fort Lauderdale house
Kolter’s Bobby Julien and a rendering of the project (Kobi Karp)

Kolter wins approval for oceanside Fort Lauderdale condo development

Kolter wins approval for oceanside Fort Lauderdale condo development
Michael Wekerle & 1000 Riviera Isle Drive (Credit: Google Maps and Isaiah Trickey/FilmMagic via Getty Images)

Fort Lauderdale estate built for Anheuser-Busch CEO hits the market at $19M

Fort Lauderdale estate built for Anheuser-Busch CEO hits the market at $19M
Jared Galbut, Bodega Taqueria

Menin plans major expansion of Bodega Taqueria

Menin plans major expansion of Bodega Taqueria
100 Las Olas & Pietro Belmonte, Marc Brandt, Gigi Giusti

Douglas Elliman takes over sales of 100 Las Olas from OneWorld Properties

Douglas Elliman takes over sales of 100 Las Olas from OneWorld Properties
Dev Motwani & 317 North Federal Highway

Dev Motwani buys Fort Lauderdale dev site for $14M

Dev Motwani buys Fort Lauderdale dev site for $14M
arrow_forward_ios

The Deal's newsletters give you the latest scoops, fresh headlines, marketing data, and things to know within the industry.

Loading...