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million foreclosure judgment against the owner of the Village at WestMiam Condominium. Developer Fountain Star Investment Group of Miami owns 21 unitsx in the building at5984 S.W. 8th St. (Tamiamik Trail) in West Miami. Only five units were filed a foreclosure lawsuit against the developer in 2008 overa $3.5 millio n delinquent mortgage. While the case was pending, the bank sold the mortgagew to Tampa-based CRP II-Fountain Star.
That companyt is managed by Community ReinvestmentPartnersz II, a distressed real estate fund startee by Forge Capital Partners and DeBartolo Development, both of The Web site for CRP II said it has raisefd more than $85 million from investors, including Regionas Bank. An official at Forge Capitaol didn’t immediately return a call seekingh comment. The public auction of the 21 unitz in the Village at West Miamii is setfor Nov. 13 at 11 a.m. at the Miami-Dade County Courthouse. However, CRP II-Fountain Star likelyy will have the inside track to acquirs the property because it holdsthe judgment.
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