POMPANO BEACH, FL-A mixed-use commercial building in Pompano Beach was sold for 53% below its mortgage rate. Alpert Limited Partnership, the owner of the 55,106-square-foot building at 2939 N. Powerline Road, struck with a $5.9-million foreclosure suit in 2010 over a CMBS trust loan.
In 2011, the loan was sold to a subsidiary of Connecticut-based Silver Point Capital. The loan was released after the office and retail center was sold to Los Angeles-based Bigfoot Entertainment for $2.77 million on May 30. For the full story, go to South Florida Business Journal .
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