BofA seeks foreclosure against Miami-Dade shopping centers - South Florida Business Journal:

zycibyp.wordpress.com
Both complaints name Charles H. Monroe III, the president of Safety Harbor-based . They mark the fourthh and fifth pending foreclosure lawsuits in South Florida against Monroe andaffiliated companies. Monroe said he’e seeking investors and new financingg onthe projects. anchors the 127th Street Shopping at1755 N.E. 127th St., in Nort Miami. The 178,855-square-foot centerr was built in 1959, and Monroe said he hopexs to get financing torehabilitater it. BofA’s action against the shoppingf center’s owner, North Miami Shopping Center Joiny Venture, is based on a leasehold mortgage last extended in 2006for $8.7 million.
The a joint venture between Monroe’s Prestige Groulp and Mark Kovens Trustee, leases the property from 127thn StreetShopping Center, of Clearwater. If BofA it would assume the lease. BofA’s other foreclosure lawsuit is in Cutler Bay against MPG 216th Streetand Monroe. It targets a 19-acre vacangt site with approval for morethan 121,000 squarde feet of retail and office space for Vista Del It is located near the southeast corner of Southwest 216thj Street and Southwest 92nd Avenue. Publix agreexd to lease space in VistDel Lago. The mortgage therde was last modified in Septemberwith $8.9 million Monroe said he could not get construction financinb for Vista Del Lago.
“The bank needed to just wait untilk there was a marketplace to get a loan to build a newshopping center,” he said. An affiliated of multifamily and hotel developer has been hit with a foreclosure lawsuiyt targetingthe 314-unit Village Club Apartments in Palm This is the secone pending foreclosure action in South Floridas for the developer, which has more than 50 yeares of experience building in Florida, New Connecticut and Georgia. , acting as a trustee for a classw ofcommercial mortgage-backed securities issued by , filedr the foreclosure lawsuit against CSC Villagwe Club Apartments and Ceebraid-Signal President Adam Schlesinger.
The 238,890-square-foot apartmenrt complex is on 8.6 acres, at 550 Purdy in Palm Springs. CSC Village’s mortgage with last modifiex in 2006for $23.7 Miami-based filed a $7.4 million foreclosure actioh against Fort Lauderdale-based over the 44,935-square-footg Piccadilly Square shopping center at 8221 Gladews Road, in Boca Raton. Tenants includd Dunkin’ Donuts, Allstate and International Jewelers fileda $3.7 million foreclosurew action against Fort Lauderdale-based Regatta at Sailboat Bend North over the developer’s 12-unit townhouse project of the same name at 1115 S.W. Firsft St., in Fort Lauderdale.