(Crystal Proenza is associate editor of RealEstate Florida.)
WEST PALM BEACH, FL-Bank of America is proceeding withforeclosure of a mortgage to locally based Premier Developers.According to the lawsuit, the development firm went into default onan $18-million acquisition and construction loan made by the bankfor a waterfront condominium project here called Gramercy Court.Principals at the developer's firm were not available for commenton Friday.
"They were in default and we tried to work with them," ShirleyNorton, a spokesperson for Bank of America, tells GlobeSt.com,adding that she cannot discuss any other details at this time. LeeD. Mackson, the Shutts & Bowen LLP attorney representing Bankof America, tells GlobeSt.com that the bank does not comment onpending litigation.
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