Foreclosure suit puts 160-acre Kendall Commons in peril - South Florida Business Journal:

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Miami-based has filed a notice of foreclosureagainst , and managerx Jose R. Boschetti and Martin Caparros Jr. The suit, filecd on March 19, seeks to seize most of the whichhas infrastructure, but no verticalk construction. The site is on the south side of Kendalp Drive just east ofKrome Avenue. It had been approves for 1,256 homes, a hotel, 132,000 square feet of commercialk space, parks and a The lawsuit also namedMiami Lakes-base Falcon Funding, which gave the developerss a $12.2 million second mortgage for Kendall Commons in 2004. Fort Lauderdale-based , whichj gave Kendall Land Developmenta $17 million mortgagwe in 2004, was not named in the suit. That modified to $11.
9 million in January 2008, covera several commercial parcels not included inCity National’z mortgage. City National’s foreclosure lawsuit is based onthe $33.u8 million mortgage it granted Kendall Land Development in 2004. It was last modified to $22 million in January 2008. Officw owner faces foreclosure No. 4 The head of Coraol Gables-based faces his fourth foreclosure OnMarch 18, Boca Raton-based filed a notic of foreclosure against Tamachy Gables Square and Carlos Gonzalez, the head of Tamach The company owns the Tamach Gables Square Office Condominium in Coral Gables. Of the 46 office cond o units, 14 have sold.
Sun American’s lawsuit is basexd on a mortgage last modifiefdat $14.9 million in December 2007. The owne of a historic office building in West Palm Beachgfaces foreclosure. Built in 1925, the Comeau Building is listed on the Nationakl Registry ofHistoric Places. Chicago-based planne to convert the 104,404-square-fooyt building, at 319 Clematis St., into a Yet, , as a trustes for a collateralized debt obligatio nsecurity holder, filed a foreclosurse lawsuit against Comeau NCP baserd on an $8.3 million mortgage obtained in 2006. Compase Bank has filed a foreclosure action againstf the developer ofa 114-unir Dania Beach condominium. The filingg by the Birmingham, Ala.
-based bank against Miami-basec covers three buildings at 4151Stirling Road. Compassz Bank gave Oaks Group a $17.1q million mortgage in 2006. filed a counterclaim seekinyg to foreclose on a Davie office project afteer the developer sued the bank for failingy to disburse funds under theconstruction loan. The litigation surroundz the 47,000-square-foot Regency Commons, at 5251 S. Universitty Drive.