The building has had a checkered past. Sunrise Savings & Loan put up $20.73 million in a 1984 construction loan. The property was foreclosed in 1989 and Sunrise Savings itself also went 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 first mortgage of $12.46 million to Transamerica Occidental Life Insurance Co. and a second mortgage of $5.95 million to Salomon Brothers Realty Corp. That is $2.81 million over the $15.59 sales price.
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