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South Florida

RocaPointe Capital picks up distressed Bay Harbor Islands loan

1177 Kane Concourse in Bay Harbour Islands
1177 Kane Concourse in Bay Harbour Islands

An affiliate of RocaPointe Capital Miami picked up the mortgage of a Bay Harbor Islands property facing foreclosure.

In April, Everbank filed a foreclosure lawsuit against the 1177 Kane Concourse Partnership over a $5.95 million mortgage, according to the South Florida Business Journal.

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EverBank has now sold that loan to GT RP Miami Fund, which is part of Patrick Leonard-managed RocaPoint Capital.

This is the second pending foreclosure RocaPoint Capital has against property’s managing parnters Martin and Andrew Taplin.

In October, the company filed a foreclosure lawsuit against the Taplin Company over an office building on Brickell Avenue. [South Florida Business Journal] – Christopher Cameron

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ForeclosuresIsland Real Estate