Parkstone Capital Partners seized a Plantation office building through foreclosure after purchasing its distressed mortgage at a significant discount.
U.S. Bank, representing a commercial mortgage-backed securities (CMBS) trust, previously won a $12.4 million foreclosure lawsuit against NNN DCF Campus LLC and 32 related parties that jointly own the buildings at 311, 313 and 343 North State Road 7. The loan had $9.77 million outstanding, plus interest and fees.
The lender then sold the mortgage… …read more
From:: biz journal foreclosures