Repossessed office park sold at 37% discount

The repossessed Mizner Place office park in West Palm Beach was sold at a 37 percent discount to its foreclosed mortgage. U.S. Bank, representing a commercial mortgage-backed securities (CMBS) trust, seized the four one-story office buildings at 5601 Corporate Way in 2015 after foreclosing on Foundation IV LLC’s $4.98 million mortgage. CMBS analysis firm Trepp…

The Wrap: Moishe Mana’s parking-less project in downtown Miami catches praise from officials, Florida attorney general goes after alleged foreclosure fraud…and more

Rendering of 200 North Miami Avenue

1. Mana’s parking-less project in downtown Miami catches praise from officials [Miami Today]
2. Florida attorney general goes after alleged foreclosure fraud [Daily Business Review]
3. Miami condo developers make push for Chinese buyers [Miami Herald]
4. Development decisions trigger Miami initiative on right to sue [Daily Business Review]

Sean Stewart-Muniz

City leader questions value of Donald Trump’s largest South Florida property

Doral Councilwoman Sandra Ruiz has questioned whether billionaire Republican Presidential Nominee Donald Trump pays enough property taxes on his largest real estate holding in South Florida. Ruiz sponsored a resolution for the Aug. 23 council meeting calling for the Miami-Dade County Property Appraiser to inspect and update its assessment of the Trump National Doral Resort…

Insurance giant buys distribution center for $24M

The real estate arm of global insurance giant Zurich North America acquired the Pompano Distribution Center I for $23.6 million. Cushman & Wakefield’s Mike Davis, Rick Brugge, Michael Lerner and Richard F. Etner represented WR Pompano Industrial, an affiliate of Atlanta-based Robinson Weeks Partners, in the sale. Zurich was represented in the purchase by Roy…