King’s Row rental complex scheduled for a foreclosure auction

A 119-unit rental complex in Greater Fort Lauderdale is scheduled for a foreclosure auction November 8 in order to repay a $23.2 million debt, CondoVultures reported.
TotalBank obtained a consent final judgment of foreclosure for $19.8 million in principal plus $3.4 million in accrued interest against the owner of the King’s Row rental complex located at Northwest 46th Avenue in the city of Lauderhill.
The foreclosure auction is held online and it will start at 10 a.m, aiming to sell the 89,900-square-feet project.
The King’s Row rental complex is one of four property cases with a final judgment amount of at least $14.8 million scheduled to be sold at a foreclosure auction in Broward County through November 30, government records show.
The complex was developed in 1970 and it is comprised of a pair of two-story buildings with 63 units and 56 units located contiguously at 1620 and 1700 NW 46th Avenue. The pair of rental buildings were assessed to $5 million in 2011, according to Broward County records.

Posted by Istvan Fekete on Oct 15 2011. Filed under Commercial, Foreclosures, Headlines. You can follow any responses to this entry through the RSS 2.0. You can leave a response or trackback to this entry