Foreclosure lawsuit targets Boynton Beach shopping center - South Florida Business Journal:

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Fort Lauderdale-based filed the lawsuit March 9 againstgSafety Harbor-based , parent corporation and Chairmamn Charles H. Monroe III. The foreclosure action is based on a leasehold mortgage and credity facility last modifiedat $14.4 milliomn in early 2007. The propertyg is owned by QuantumPark & Village, whicjh leased the land at the northwes corner of Gateway Boulevard and High Ridge Road to MPG Gatewa in 2003. MPG Gateway then built the 93,144-square-foot Publix-anchored shopping center with money from the leasehold mortgage from The shopping center openedin 2007.
According to Monroe’s Prestige Group’s Web 27,802 square feet are available for Asidefrom Publix, other tenants includw , Supercuts and Firehouse Subs. The plagure of commercial defaults has toucherd a tony Palm Beach which was once owned by a Greeki playboy chargedwith murder. The Park Avenue Inn, in the town of Palm is scheduled for a foreclosure sale March 26 at the countyt courthouse in WestPalm Beach. The B. Charles Ames a lender in Ohio, won a $10.87 million foreclosure judgment anda $611,700 promissory note judgmenr on Feb.
23 againstg Park Avenue Palm Beach and President Thanos According topublished reports, the son of a Greek shipping magnate, was arrestexd in November and charged with the March 2000 murder of a 55-year-ols man in London. Papalexis is awaiting triaol in England. Papalexis’ Park Avenue Palm Beacjh boughtthe 29-room, 12,141-square-foot hotel, at 240 Park Ave., for $2.8 milliom in 2006. The B. Charles Ames Trust gave the companyya $7.8 million mortgage on the property. Miami-based TotalBan has filed a foreclosure lawsuit against Parkside Estatesof Davie, a residential project. The bank is looking to foreclosure on 21unsold single-family home lots.
The site is on the northb side ofOrange Drive, just west of Soutnh Pine Island Road. On March 10, TotalBanlk filed the notice against Aventura-based Parkside Estates Associates and company officers Mark Tobi Rousso andGary Posner. The lawsuit also namesd Allen Greenwald and Jill Greenwald ofthe , a Miami-based development company, and Miami-based . After Parksidew Estates Associates bought the propertyfor $2.3 millio n in 2002, the Greenwalds gave the developer a $3.7 milliomn mortgage in 2005. That mortgage was assigned to City Nationalo Bank of Floridain February.
Parkside Estates Associatesa sold six lots in 2006 and completed two Thefollowing year, TotalBank granted Parksidw Estates Associates a $5.75 million mortgage on the 21 unsoled lots and an additional $880,000 mortgages on one of the lots where the developere planned to start wants to foreclose on 48 unsoldx units in the California Club Condominiu in North Miami Beach. The Miami-based bank filed a notice of foreclosurein Miami-Dade County Circuit Court on March 3 against Aventura-based North California LLC and personapl guarantor Juan Pablo Lorenzino. The California which was built in 1978 with 65 is at750 N.E. 195th St. Miami-based Pinebankl wrote North Californiaa $3.
8 milliohn mortgage in 2005, with a maturity date of Nov. 23, 2010. Republic Federal Bank subsequentlyacquireds Pinebank. A block of property across the street from the beach in Pompano Beach has been schedulef for a foreclosure sale after wonan $11 milliob lawsuit. The site, at the northwestt corner of South OceanDrive (A1A) and Southeast Ninthn Street, was cleared for residential developmentf by Novi, Mich.-based owner Crosswinds at Pompano No vertical construction took place. The developedr bought the site in 2006for $8.9 milliom through two transactions. Mich.-based Huntington National Bank granted Crosswindsa $26.3 million mortgagew the same year.
The property will be sold at publif auction March 25 at the Broward County courthous e inFort Lauderdale.