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South Florida

Owner of Pompano Beach medical office building files for bankruptcy

Andrews Square Medical and Professional Building in Pompano Beach
Andrews Square Medical and Professional Building in Pompano Beach

The owner of a Pompano Beach medical office building filed for Chapter 11 on Dec. 10 to stop a foreclosure action.

A foreclosure lawsuit was filed by 150 S. Andrews Acquisitions Group against Andrews Square Associates and Spectrum Health Solutions on Oct. 31, according to published reports. The company has $2.7 million in two mortgages with the lender, S. Andrews Acquisitions Group.

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Andrews Square Associates and Spectrum Health Solutions estimated the value of Andrews Square Medical and Professional Building at $4.8 million, the South Florida Business Journal reported. The 50,535-square-foot office building is located at 150 Southwest 12th Avenue, just off of Atlantic Avenue and Andrews Avenue. [South Florida Business Journal] — Katherine Kallergis

 

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BankruptcyOffice MarketPompano Beach