6 Million Dollar Foreclosure in Pompano Beach

The owner of three apartment buildings and two vacant sites in Pompano Beach lost a $6.3 million foreclosure judgment to Premier American Bank.

According to Broward County Circuit Court records, on March 19th, the Miami-based bank won the judgment against 3204 Associates based on a $4.2 million mortgage, plus interest and fees. The case was filed in 2008.

The properties up for auction on the county’s Web Site are:

• Two apartment buildings of 2,315 square feet each at 3204 and 3208 N.E. Ninth St.
• A 5,573-square-foot apartment building at 3225 N.E. Sixth St.
• Two vacant, residential-zoned parcels at 3220 and 3224 N.E. Seventh St.

The loan was made by the old Premier American Bank, which failed in January. Its assets were acquired by Premier American Bank, N.A. as part of private equity funds.