The owner of Palmetto Plaza in Hialeah filed Chapter 11 reorganization, although the retail center is fully leased.
Bremar Development filed Chapter 11 in U.S. Bankruptcy Court on Aug. 17 with a petition signed by managing member Jorge D. Marrero. That automatically stayed a foreclosure lawsuit filed on June 29 by First-Citizens Bank & Trust Co. (Nasdaq: FCNCA) against both Bremar Development and Marrero.
The debtor owns the 28,514-square-foot retail center at 2150 West 76th Street. It was built… …read more
From:: biz journal foreclosures