The Grove Market Shopping Center in western Palm Beach County was sold by its lender at a 45.3 percent discount to its foreclosed mortgage.
FUCMT 2001-C4 Seminole Road LLC, representing a commercial mortgage-backed securities (CMBS) trust with Miami Beach-based LNR Partners as the special servicer, seized the 76,975-square-foot retail center at 5060 Seminole Pratt Whitney Road in 2012 after foreclosing on a $6.22 million mortgage. The borrower was FWI 20 LLC, managed by Thomas J. Cannon.
The lender… …read more
From:: biz journal foreclosures