PALM BEACH, FL-An affiliate of Fort Lauderdale-based BBX Capital Corp. has acquired the PGA Professional & Design Center retail property here for $5.6 million.
The BBX affiliate purchased the Dan Catalfumo-developed property from US Bank, which represented a CMBS trust that seized the 145,536-square-foot center in 2013 foreclosure proceedings against Catalfumo's RCA Center II in connection with a $30-million mortgage, according to the South Florida Business Journal.
BBX Capital has previously foreclosed on several Catalfumo properties and reached a large settlement with the developer over some personal guarantees on those loans. See story in the South Florida Business Journal.
© Touchpoint Markets, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more inforrmation visit Asset & Logo Licensing.
John Jordan
John Jordan is a veteran journalist with 36 years of print and digital media experience.
