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Aventura medical building sold to escape foreclosure

A foreclosure lawsuit over a medical building in Aventura was resolved after the property was sold for enough to pay its loan.

U.S. Bank, representing a commercial mortgage backed securities (CMBS) trust, filed a foreclosure lawsuit in 2013 against GSOMR LLC, along with the Biscayne Institutes of Health and Living and Marie Dicowden, who is an officer of both companies. The behavioral health center operated on the property.

The foreclosure concerned a $2.9 million first mortgage. Boca Raton-based Paradise Bank had a $1.07 million second mortgage on the property.

GSOMR recently sold the 21,837-square-foot office at 2785 N.E. 183rd Street for $6.3 million to a group of four Aventura-based companies: Tanglewood WIB, Tanglewood JAK, KIMALI Properties, and Kerrin Properties. Joshua Dubin is the managing member of all four companies.

U.S. Bank withdrew the lawsuit and both mortgages were repaid.

The building last traded for $2.9 million in 2003.

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Article source: http://www.bizjournals.com/southflorida/news/2015/06/29/aventura-medical-building-sold-to-escape.html

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