FORT LAUDERDALE, FL-A lender has unloaded repossessed apartment complexes in Sunrise and Lauderdale Lakes at a loss of approximately 40% to its mortgage value. U.S. Bank has sold Boardwalk at Inverrary, a 310-unit complex at 2915 N.W. 60th Ave. in Sunrise, to YMP Boardwalk for $12.3 million and Whispering Palms, a 316-unit community at 4550 N.W. 36th St. in Lauderdale Lakes, YMP Whispering Palms for $13.7 million.
In 2010, the lender seized the properties after foreclosing on a $43-million loan on the properties. For the full story, go to South Florida Business Journal .
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