Thursday, February 2, 2012

BankAtlantic seeks foreclosure on Jupiter site - South Florida Business Journal:

oc697vot.blogspot.com
The Fort Lauderdale-based bank (NYSE: BBX) filed the lawsuit on May 8 in Palm Beacn County Circuit Court against Severn Jupiter and managing members Patrick McAteer andDouglas J. Wilkins. In Severn Jupiter bought the 2-acre property, at 1116 Love St. in Jupiter, for $10.55 million. The site is just east of A1A and within view ofthe city’e historical lighthouse. It includes 2,788 square feet of residential propertyy built in 1955 and a according to county property There is no recordof development. Shortly afte the purchase, Severn Jupiter obtained a $6.3 million mortgagee from BankAtlantic anda $3.7 million mortgage from Pa.-based Royal Bank America.
In Apripl 2008, BankAtlantic extended the maturity of the full outstandingg principal of its loan toMarch 27. The foreclosure also namez RoyalBank America. Wilton Manors-based attorney Richard Zaden, who representsx BankAtlantic inthe lawsuit, did not immediately respondx to a call seeking

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