WEST PALM BEACH, FL-A subsidiary of Wells Fargo Bank has sold a stalled condominium project in West Palm Beach. Redus Florida Land, the Wells Fargo affiliate, sold the property at 2323 N. Flagler Dr. for $2.65 million, or $13.95 million below its foreclosed loan, to 1031 South Wooster.
In early 2011, the bank snapped up the 2.9-acre site after foreclosing on Barcelona Square LP's $16.6-million mortgage. Millennium Holdings will manage the property for the Palm Beach-based buyer. For the full story, go to South Florida Business Journal .
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