Ottawa-based Claridge Homes built the oceanfront Sonata Beach Club, a 64-unit luxury condominium building. Its suites, which are named after composers like Bach and Mozart, range from 2,763 square feet to 3,090 square feet.
According to a media report, Claridge only sold 34 of those units and, in 2009, was the subject of a foreclosure lawsuit concerning its $26.7-million mortgage. Bank of America and PNC Bank, which are listeded as the co-lenders, were the ones who filed the lawsuit, according to a story in the <i>South Florida Business Journal</i>.
Claridge reportedly sold seven units to Raku Investments and Echo Investments Group for a total of $2.5 million. On Feb. 11, Gatineau’s Pierre Heafey picked up the loan and then bought the balance of the units for $9.7 million through a Miami-based corporation, Sonata Beach LLC, according to the story.
via Heafey picks up Claridge-built Florida condos – Residential – Real Estate – Ottawa Business Journal.