Sales of bank-owned homes have begun to rise again after foreclosure slowdown last fall, RealtyTrac reported. The real estate tracking firm’s recent stats show that deep discounts and a resurgent rental market motivated investors to purchase South Florida foreclosed homes, paying with cash. There were 2,222 sales of bank-owned homes in the first quarter of [...]
Bank of America filed a foreclosure lawsuit on May 17 against One Boynton LLC over the 21,552 square-foot financial building located at 114 N. Federal Highway. This lawsuit concerns a loan last modified at $7.5 million four years ago. Bank of America appears here on the tenants list. The building has separate drive through and [...]
The stalled Opera Place condo project now faces a foreclosure lawsuit, but the lawyer commenting on the situation said that it is a device by the project’s owner BAP Development to wipe out creditors. The distressed property is located on a 3.2 site at 419 Lakeview Ave., and it was planned and approved to be [...]
Merco Group, the developer of this unfinished 98-unit NoBe Bay condo project in Miami Beach has lost it over a $47.3 million foreclosure judgement. The lender, Regions Bank won the judgement against Indian Creek Holdings and 67th Street Holdings over the 16-story project at 6700 Indian Creek Drive. At the beginning of this week, it [...]
Amera Corp., a Coral Springs based developer received a short sale deadline until June 30. This is the date until the troubled developer can attract a buyer for some of its Fort Lauderdale and Naples properties or will lose them to foreclosure. Seacoast National Bank filed a foreclosure lawsuit against Las Olas Properties and managing [...]
A fixed-base operator at Kendall-Tamiami Executive Airport, FalconTrust Air faces a foreclosure lawsuit filed by its lender, Everbank. The lawsuit names FalconTrust Air, FalconTrust Group and President Aldalberto Sotero and it concerns two mortgages made for a combined $14.5 million in 2007 with Bank of Florida. While FalconTrust Air doesn’t own any property the mortgage [...]
Paramount Bay condominiums are familiar for some as a dream project that was scheduled to open more than two years ago. But for others – such as investors – this a great opportunity to purchase a real estate at a foreclosure auction, which means a 25% to 45% discount. After a record $262 million foreclosure [...]
GSMS 2005-GG4 pembroke Retail LLC an entity representing a CMBS fund with Miami Beach-based LNR Properties as special servicer filed a foreclosure lawsuit that targets Pembroke Pine’s Flamingo Market Place, along with Gary Hahn and Rubin Pikus, the CEO of Milbrook Properties, from New York. The 145,946 square-foot shopping center located at 12105 Pembroke Road [...]
Gencom, the owner of the Ritz-Carlton, Bachelor Gultz will let the luxury hotel go by foreclosure. It owes Lehman Brothers $61 million, according to the County Treasurer records. Gencom is a Miami-based company owning 27 hotels and properties across the country. The Ritz-Carlton foreclosure sale date is Aug. 24, county records show, while business remains [...]
