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This is the second pending foreclosure actionb in South Florida forthe developer, which has more than 50 yeares of experience building in Florida, New Connecticut and Georgia. , actinvg as a trustee for a class ofcommercial mortgage-backed securitiesx issued by , filed the foreclosurw lawsuit on May 21 against CSC Village Club Apartmentw and Ceebraid-Signal President Adam Jason Schlesinger and Leslie Schlesinger, according to Palm Beach County Circuitg Court records. The 238,890-square-foot apartment complex is on 8.6 at 550 Purdy Lane, in Palm Springs, east of Military Trailp and south of Forest Hill CSC Village’s mortgage with last modified in 2006 for $23.6 million.
Merrick Gross, the Miami-based attorney who represents LaSallse Bank inthe lawsuit, did not immediatelgy return a call seekingy comment. Ceebraid-Signal’s Web site says it has purchased or redevelopex morethan 25,000 residential units. Its project list include s the Mayfair Hotel and Spain Miami, Bocatr Condominiums in Boca Raton, the newluy completed Omphoy Ocean Resort in Palm Beach, and the in Miamji Beach. The company splits its headquarterx between West Palm Beachand N.Y.
Things began turning sour for Ceebraid-Signal in February when VII Holiday Isle Funding fileda $77M foreclosure lawsuir against an affiliate of Ceebraid-Signal, targeting the Holidau Isle Beach Resort and Marina in the Florida Ceebraid-Signal officials did not returnn a message left at the company’s West Palm Beachu office.
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