The building has had a checkered past. Sunrise Savings &Loan put up $20.73 million in a 1984 construction loan. Theproperty was foreclosed in 1989 and Sunrise Savings itself alsowent under. Preferred Exchange Tower Inc., managed by Jordan C.Paul is the general partner of the building's newest owner.
Preferred Coral Springs 1 bought the building with a firstmortgage of $12.46 million to Transamerica Occidental LifeInsurance Co. and a second mortgage of $5.95 million to SalomonBrothers Realty Corp. That is $2.81 million over the $15.59 salesprice.
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