U.S. Century to foreclose on site once owned by ex-board member

Miami /
Apr.April 28, 2014 03:45 PM

While U.S. Century Bank continues to do battle on several legal fronts, the company has emerged victorious in another case. U.S. Century won a $5.2 million foreclosure settlement against Campbell Plaza for a vacant site that was previously owned by a former director at the bank.

The site in question — a 3.1-acre commercial-zoned property at the southwest corner of Southwest 312th Street and Southwest 147th Avenue, and across the street from Homestead Hospital — was bought for $2.88 million in 2006 by former bank director Carlos M. Garcia. When Garcia sold the property to Campbell Plaza, the bank provided the financing on the deal, according to a report in the South Florida Business Journal.

The site is set for an online auction, according to the paper.

The Doral-based U.S. Century is in the midst of several legal battles. The bank is currently facing a shareholder class action lawsuit as well as a shareholder derivative lawsuit that accuses the bank and its former directors of insider trading. [SFBJ] — Sasha von Oldershausen


Related Articles

arrow_forward_ios
Mallory Kauderer and 5501 Northeast Second Avenue (The Porosoff Group, Twitter, Getty)
Churchill’s Pub in Little Haiti hits market
Churchill’s Pub in Little Haiti hits market
Joseph Chetrit and The Tides South Beach (Getty, The Tides South Beach)
Chetrit’s lender scores victory in South Beach hotel foreclosure
Chetrit’s lender scores victory in South Beach hotel foreclosure
2100 NW 84th Street and American Tower's Tom Bartlett and Baptist Health's Brian Keeley (Google Maps, American Tower, Baptist Health)
Baptist Health sells Doral data facility for $34M
Baptist Health sells Doral data facility for $34M
Moto Capital Group's Marcos Lima with 350 Ocean Drive (Loopnet, LinkedIn, Getty)
Toronto firm picks up Ocean Drive hotel for $39M
Toronto firm picks up Ocean Drive hotel for $39M
Codina Partners’ Armando Codina and Ana-Marie Codina Barlick with 5350 Park condo project (Codina Partners, Getty)
Judge orders Codina Partners’ affiliate to pay Grycon $8M in damages
Judge orders Codina Partners’ affiliate to pay Grycon $8M in damages
Metronomic's Kelly Beam with 3265 Bird Avenue (Metronomic Holdings, Google Maps)
Embattled developer’s Coconut Grove rentals head to auction
Embattled developer’s Coconut Grove rentals head to auction
State Street Realty's George Pino (State Street Realty, Getty Images)
State Street Realty’s George Pino driver of boat in deadly Keys crash
State Street Realty’s George Pino driver of boat in deadly Keys crash
8000 West Broward Boulevard, Mall
Lender pays $43M for Broward Mall in foreclosure auction
Lender pays $43M for Broward Mall in foreclosure auction
arrow_forward_ios

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

Loading...