Foreclosures mount for Monroe

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Both complaints name Charles H. Monror III, the president of Safety Harbor-based Monroe’x Prestige Group. They mark the fourtjh and fifth pending foreclosure lawsuits in South Florida againsgt Monroe andaffiliated companies. Monroe said he’s seekinb investors and new financinhg onthe projects. Publix anchors the 127th StreetShopping Center, at 1755 N.E. 127th St., in North The 178,855-square-foot center was built in 1959, and Monrow said he hopes to get financing torehabilitatde it. Bank of America’s actio against the shopping center’s North Miami Shopping Center Joint is based on a leasehold mortgage last extendee in 2006for $8.
7 The developer, a joint venture between Monroe’s Prestigr Group and Mark Kovens Trustee, leases the propertgy from 127th Street Shopping of Clearwater. If Bank of America it would assume the Bankof America’s other foreclosure lawsuit in Cutler Bay is agains t MPG 216th Street and Monroe. It targetw a 19-acre vacant site with approval for morethan 121,00 square feet of retail and office spac e for Vista Del Lago. It is located near the southeasf corner of Southwest 216th Street and Southwest92nd Avenue. Countu records show Publix agreed to leaswe space in VistaDel Lago.
MPG 216th Streef bought the site in 2003for $7 millio n and obtained an $18 million mortgage from Bank of The mortgage was last modified in September with $8.9 million Monroe said he could not get constructiomn financing for Vista Del Lago. “Thse bank needed to just wait until therr was a marketplace to get a loan to builsd a newshopping center,” Monroe said. “I’ve always been a conservatives developer. I develop for the premier grocery store inthe Miami-based attorney Lee D. who represents Bank of America in both did not immediately return a callseeking comment.
Monroe and his affiliate companiee also face foreclosure lawsuits from Bank of Americz onthe Publix-anchored Parklanc Commons shopping center in Parkland, from Wachoviqa Bank on the Best Buy-anchored Coral Landingx III in Coral Springs/Margate and from , which targets the Publix-anchoredf Quantum Village in Boynton Beach.