The Boca Raton, Fla., is set for online auction today following a $17.6 million foreclosure judgment. The property includes a 202-acre, 27-hole golf course, and 76,371 sq. ft. of clubhouse and support facilities. The property was previously sold for $7.2 million in 2004.
Ocean Breeze Golf Club in Boca Raton, Fla., will go to auction over a $17.6 million foreclosure judgment, the South Florida Business Journal reported.
Wells Frago Bank won the judgment against MCZ/Centrum Florida V Woner, along with managing members Michael Lerner, Arthur Slaven, Laurence Ashkin and John McLinden. It concerns an $11.97 million mortgage, plus interest and fees, the Business Journal reported.
The case was filed in 2010. The developer previously tried to build 211 homes on the golf course, but didn’t secure approval, the Business Journal reported.
The 202-acre golf course is set for online auction on January 8. It includes 76,371 sq. ft. of clubhouse and support facilities, and the course has 27 holes. The site last traded for $7.2 million in 2004, the Business Journal reported.
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