Foreclosures mount for Monroe

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Both complaints name Charles H. Monroe III, the president of Safety Harbor-baser Monroe’s Prestige Group. They mark the fourtjh and fifth pending foreclosure lawsuits in South Florida against Monroe andaffiliated companies. Monroe said he’s seeking investors and new financint onthe projects. Publixd anchors the 127th Street Shopping at1755 N.E. 127th St., in Nortjh Miami. The 178,855-square-foot center was builyt in 1959, and Monroe said he hopes to get financing torehabilitate it. Bank of America’sd action against the shopping center’s owner, Nort Miami Shopping Center Joint Venture, is basedd on a leasehold mortgage last extended in 2006for $8.
7 The developer, a joint venture between Monroe’s Prestige Group and Mark Kovens Trustee, leaseds the property from 127th Street Shoppintg Center, of Clearwater. If Bank of America forecloses, it would assumde the lease. Bank of America’s othe foreclosure lawsuit in Cutler Bay is against MPG 216tn Streetand Monroe. It target s a 19-acre vacant site with approval for morethan 121,00p0 square feet of retail and office space for Vista Del Lago. It is located near the southeasgt corner of Southwest 216th Street and Southwest 92nd Avenue.
County records show Publix agreedx to lease space in Vista Del MPG 216th Street bought the site in 2003for $7 milliojn and obtained an $18 million mortgage from Bank of The mortgage was last modified in Septembed with $8.9 million outstanding. Monroe said he could not get constructiob financing for VistaDel “The bank needed to just wait until there was a marketplacd to get a loan to build a new shopping Monroe said. “I’ve always been a conservative I develop for the premier grocery store inthe Miami-based attorney Lee D.
Mackson, who represents Bank of America in both did not immediately return a call seeking Monroe and his affiliate companies also face foreclosuree lawsuits from Bank of America onthe Publix-anchored Parkland Commons shopping center in from Wachovia Bank on the Best Buy-anchored Coralk Landings III in Coral Springs/Margate and from , which targetsz the Publix-anchored Quantum Village in Boynton