Southeast
Developers Faces 3 Foreclosure Suits on South Fla. Projects
South Florida Business JournalSky Development has been hit with three foreclosure suits again two of its projects in south Florida. The Aventura, Fla., developer owes more than $27 million to a pair of lenders that provided debt for the City...
Bank Files to Foreclose on Fla. Apartments
South Florida Business JournalOcean Bank has filed a foreclosure suit against the owners of the 60-unit Sunrise Place Apartments in Sunrise, Fla. The Miami bank, in November 2007, had provided Sunrise Place Group of Coral Gables, Fla., $4.5 million to...
72,400-SF Office Development Slated for Lake Mary, Fla.
Orlando Business JournalMariner Asset Management Services plans to develop a 72,400-square-foot office complex in Lake Mary, Fla. The West Palm Beach, Fla., developer will begin construction in the third quarter on the $10 million Hills of Lake Mary Professional Centre...
AmTrust Files Foreclosure Suit Against Developer of Fla. Residential Property
St. Petersburg TimesAmTrust Bank has become the latest lender to file a foreclosure suit against the developer of The Resort & Club at Little Harbor residential community in Ruskin, Fla. The bank has alleged that EarthMark owes $8.9 million on...
Historic Charlotte Office Property Hits Sales Block
Charlotte ObserverThe Foundation of the Carolinas is offering for sale its headquarters property in Charlotte, N.C. The group has tapped Keystone Partners of Charlotte to market the 27,280-square-foot office building at 217 S. Tyron St. for about $5 million. The...
Construction to Start Next Week on South Fla. Hotel/Marina Complex
South Florida Business JournalConstruction is slated to begin next week on the $150 million Atlantic Village Hotel & Marina complex in Dania Beach, Fla. The property will sit on 10 acres at Interstate 95 and Griffin Road, south of the...
Apartment Occupancy Rate Falls in Birmingham, Ala.
Birmingham Business JournalThe apartment occupancy rate in Birmingham, Ala., was 90.2 percent in the first quarter, according to Marcus & Millichap. The brokerage is predicting that the rate could drop to as low as 88.8 percent during the year. Traditionally,...
Foreclosure Suit Filed Against Developer of Fla. Condo Property
Bradenton HeraldWachovia Bank has filed a foreclosure suit against the developer of the 150-unit River Dance condominium complex in Bradenton, Fla. The suit claims that The Promenade at Riverwalk LLC defaulted on a $28 million construction loan on the eight-story...
Auction on Atlanta’s Equitable Building Delayed
Atlanta Journal-ConstitutionA foreclosure auction scheduled for today for the Equitable Building in Atlanta has been pushed back one month, to June 2. A reason for the delay was not given. Equastone bought the 33-story tower two years ago for $56.8...
Fla. Hotel Project to Head to Foreclosure
Bradenton HeraldRegions Bank has sued the owner of the historic Pink Palace in Bradenton, Fla., for failing to repay a $2.6 million loan used to acquire the property. River Grand Development Inc. bought the former seniors-housing complex at 309 10th...
About
Commercial Real Estate Direct is the only source -- in print or otherwise -- that keeps close tabs on the entire real estate capital markets industry. It provides up-to-date market intelligence on the mortgage business, equity raising, investment sales and CMBS.
