Note Deals Take Off in South Florida When Robert Lechter heard Banco Popular North America was selling a note secured by a recently completed condo tower in Miami’s Brickell area, he knew it was no time to be timid. Lechter says he won the bidding with a $10.2-million offer for an $18-million note secured by …
Category Archives: Regional
Foreclosure crisis far from over for South Florida
Foreclosure crisis far from over for South Florida If you think the torrent of foreclosures affecting every city and nearly every neighborhood and street in South Florida is as bad as it can get, here is a harsh new reality: There’s a new wave of foreclosures making its way through the courts that has nothing …
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Fraud case tied to escrow checks [Central Florida]
Fraud case tied to escrow checks Mark Brady seemed to have it all during the real estate boom — two title companies, BMWs, a Hummer, powerboats, a $2 million home on Merritt Island, an oceanside condominium in Cape Canaveral and three other riverfront properties. Then, two days before Christmas, Brady was arrested — charged with …
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There’s a new player in South Florida’s condo market
There’s a new player in South Florida’s condo market Starwood Capital Group will wield new influence over South Florida’s condo market after it won an auction bid for the Corus Bank condo portfolio from the FDIC. South Florida’s battered condo market just got a major new player. Starwood Capital Group’s deal to acquire a big …
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Real estate flippers back in South Florida, but this time they could help
Real estate flippers back in South Florida, but this time they could help The flippers are back. Bolstered by swelling foreclosures and bottomed-out prices, investors are returning to the South Florida real estate market, snapping up distressed homes with cash payments for either a quick turnaround or a short-term rent-then-sell investment. Unlike the speculative flippers …
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Richard White: Complying with Florida statutes is recommended for associations
Richard White: Complying with Florida statutes is recommended for associations Question: I have written to you previously about a potential vote our condominium complex entertained to opt out of the state statute. This vote for opting out was recommended by our management company. Well, the condominium members did vote to opt out. What is your …
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