A lender has filed foreclosure against CityPlace, the high-profile shopping complex that’s facing financial woes in spite of its high occupancy.CityPlace fell behind on its $150 million loan in March, and an entity affiliated with LNR Partners of Miami Beach on Thursday filed a foreclosure suit in Palm Beach County Circuit Court.
When contacted, CityPlace Partners said: “CityPlace Partners continues to work closely with the special servicer to realign the loan and ensure the continued long-term success of CityPlace. Those talks are ongoing.” Real estate experts say it’s unclear whether the lender would seek to take back the property.
via West Palm Beach’s CityPlace is target of foreclosure suit.