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Broward industrial building hit with foreclosure



Foreclosure Roundup Intro Slide









Brian Bandell
Senior Reporter- South Florida Business Journal

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An industrial building in Pompano Beach could be seized in foreclosure.

Fort Lauderdale-based CT Capital filed a foreclosure lawsuit against A QC Group Corp. over a mortgage last modified at $4.85 million in 2010. That loan was set to mature in June 2012.

Mitchell J. Howard, the managing member of A QC Group, was not named in the lawsuit.

RELATED CONTENT: Broward office park, two Miami properties targeted by lawsuits

The complaint targets the 59,415-square-foot industrial building at 200 Park Central Blvd. It’s just north of Copans Road and west of North Andrews Avenue. It was built in 1984.

Fort Lauderdale attorney Robert L. Sader, who represents CT Capital in the lawsuit, couldn’t be reached for comment.

Miami Gardens shopping center changes hands in foreclosure

A local investor with ties to a supermarket chain took title to the Lakes on the Green Shopping Center in Miami Gardens after buying a foreclosure judgment.

Branch Bank and Trust Co. filed a foreclosure lawsuit in 2009 against CC Development, Power One Group and managing members Reginald Beane, Luis M. Espinosa, Rene M. Cambert, Michael Camilleri and Oscar Delgado. They were the heads of the shuttered First Commercial Insurance Co.

BBT later sold the $23.6 million loan to Miami Gardens Drive LLC, which is managed by Agustin Herran, the president and CEO of Sedan’s supermarket and a former director of U.S Century Bank.

RELATED CONTENT: FDIC objects to U.S. Century Bank settlement

Miami Gardens Drive LLC won a $54.1 million foreclosure judgment against CC Development and won the auction on July 31 with a credit bid of $900,100. It recently took title to the 105,895-square-foot shopping center at 18600 N.W. 87 th Avenue.

Brian Bandell covers banking, finance, health care and education. Get the latest banking news with our free daily newsletter. Click here to subscribe.




Article source: http://www.bizjournals.com/southflorida/news/2014/08/29/broward-industrial-building-hit-with-foreclosure.html

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