BOYNTON BEACH, FL-After Wells Fargo secured a foreclosure judgment against the ownership of the Renaissance Commons office condominium project here, an online auction has been scheduled on the property for Sept. 18.
Wells Fargo won a $52.6-million foreclosure judgment against Boynton Development Associates in regards to a $47.2-million mortgage on the 63-unit office-retail condos located at 1880 North Congress and 1500 West Gateway Blvd., according to the South Florida Business Journal. The newspaper reports that the foreclosure action was filed on July 2 and the borrower consented to the judgment.
The developer previously sold 18 units at the complex. Compson Associates originally developed the property. Its nearby apartment project is not included in the foreclosure proceedings. See story in the South Florida Business Journal.
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