The Cypress Creek Tower office building in Fort Lauderdale was sold out of foreclosure for a 7 percent discount.
The 61,917-square-foot office building, at 800 W. Cypress Creek Road, was seized in 2013 by GCCFC 2005-GG5 Ft Lauderdale Office LLC, a commercial mortgage-backed securities (CMBS) trust with LNR Properties as the special servicer, over a $6.5 million mortgage to an affiliate of Cabot Investment Properties. The five-story building recently sold for $6.04 million to COLE International Investments,… …read more
From:: biz journal foreclosures