The owner of the Country Club Village apartment complex in Boca Raton filed Chapter 11 reorganization one day before the property was set for foreclosure auction.
In July, CF SBC Pledgor 1 2012-1 Trust, managed by CWCapital Asset Management on behalf of a securitized mortgage fund, won an $11 million foreclosure lawsuit against Club Village LLC and managing member Fred DeFalco. It was based on a mortgage with $6.97 million outstanding, plus interest. The 84-unit apartment complex at 1551 N.W. 13th… …read more
From:: biz journal foreclosures