WEST PALM BEACH-A foreclosure lawsuit for $22.4 million has been filed against the owner of the Mellon Building and the Horizon Building. The suit was filed by a commercial mortgage-backed securities fund in Palm Beach County Circuit Court against co-borrowers 1645 West Palm Associates and 1401 Forum Associates.
The 125,504-square-foot Mellon Building at 1645 Palm Beach Lakes Blvd was bought for $417.6 million in 2006, while the 70,185-square-foot Horizon Building was purchased for $10.7 million in 2006. For the full story, go to Houston Business Journal.
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