Miami-based City National Bank of Florida has agreed to forgive $10 million in debt on Davie’s 595 Corporate Park of Commerce as part of a mortgage modification deal with the developers. The 42-acre project had been hit with a foreclosure lawsuit in January, which developers Robert Lechter, a principal with Hollywood-based REMS Group, and J.
Davie’s 595 Corporate Park of Commerce Gets Modification Read More »
The U.S. Small Business Administration is offering a lifeline to many commercial real estate owners with maturing mortgages. Under a temporary refinancing program that will start on April 6, the SBA can refinance an eligible commercial real estate mortgage that is set to mature after Dec. 31, 2012, into an SBA-backed 504 loan. In February,
SBA To Help With Maturing Commercial Loans Read More »
Pimo Capital LLC acquired the office building at 210 N. University Dr. in Coral Springs, FL from Coneca Properties, Ltd. for $6.5 million, or about $81 per square foot. The property is a nine-story, 80,380-square-foot building constructed in 1985. The property transferred as a short sale, with the seller having a $9.3 million balance on
Coral Springs Executive Tower Trades For $6.5M Read More »
