Grand Bank & Trust of Florida sold two repossessed properties in Palm Beach County at a discount.
The bigger loss came from the 5-acre site at 3145, 3197 and 3229 South Jog Road in Greenacres. The West Palm Beach-based seized it in 2012 after foreclosing on the $2.2 million mortgage of Haldick Enterprises.
The bank sold it for $950,000 to Greenacres Construction & Development, representing a 57 percent discount. Grand Bank gave the buyer, a West Palm Beach company managed by John P. Reichard III,… …read more
From:: biz journal foreclosures