Deutsche Bank files foreclosure suit on Pembroke Lakes Mall loan
Deutsche Bank has filed a foreclosure suit over an unpaid 260 million dollar mortgage on a South Florida shopping mall following cash flow and occupancy pressures.
FTMQ Real Estate, written by our newsroom0 views
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Deutsche Bank National Trust Co. filed a foreclosure suit against Pembroke Lakes Mall LLC in the Broward County Circuit Court after the borrower failed to repay a 260 million dollar mortgage by its March 2025 maturity date. Bisnow reported that the lender filed the action on behalf of a Goldman Sachs commercial mortgage backed securities trust. [1]
The borrower, BGRE, was formerly known as Brookfield Properties. According to Bisnow, New York based BGRE requested a three year extension on the loan for the Broward County shopping centre, but the request was denied after years of cash flow and occupancy struggles. BGRE and Deutsche Bank did not respond to requests for comment. [1]
The German multinational investment bank, which is headquartered in Frankfurt and dual listed on the Frankfurt Stock Exchange and the New York Stock Exchange, serves as the trustee in the legal proceedings. [1][6]
In short
- Deutsche Bank filed a foreclosure lawsuit regarding a 260 million dollar mortgage on Pembroke Lakes Mall in Broward County.
- The borrower, BGRE, failed to repay the debt upon its March 2025 maturity date after a requested three year extension was denied.
- The foreclosure filing follows prolonged cash flow and occupancy pressures at the property.
Sources
Every paragraph above points to the numbered items it rests on. Read the originals here.
- [1]Deutsche Bank Files $260M Foreclosure Suit For Broward County MallBisnow, 6h ago (the report this story comes from)
- [2]Top Commercial Insulation Options in Broward County: Cost and ROICommercial Construction & Renovation, 2h ago
- [3]Deutsche Bank Files $260M Foreclosure Suit For Broward County MallYahoo Finance, 6h ago
- [4]Foreclosure looms for Brookfield’s Pembroke Lakes Mall after alleged $260M loan defaultThe Real Deal, 6h ago
Background
- [5]Becker & Poliakoff, P.A. on Wikipedia
- [6]Deutsche Bank on Wikipedia
- [7]Martin Kimmel on Wikipedia
Our newsroom writes these reports with the help of software, from the 7 sources listed and nothing else, and checks them against those sources. Facts can still be wrong or move on; the originals are the record. Spotted a mistake? Write to daniel@monsterkong.com.
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