Kevin Bouffard | THE LEDGER |
“Controversial Lakeland developer Jeff Holden may lose a significant chunk of his commercial real estate holdings to foreclosure unless he can come up with almost $18 million to pay off the mortgages.
Two Holden properties have already been placed into receivership under foreclosure actions that began in February 2012 while a third faces a foreclosure in a case filed in June.
Under receivership are:
Lakeland South Shopping Center in the 5300 block of South Florida Avenue, where the Outback Steakhouse is an anchor tenant. A Holden company called Prime Lakeland Plaza LLC owns the 64,332-square-foot property, which has an outstanding debt of almost $10.3 million plus interest.
Alamo Plaza shopping center in the 4500 block of South Florida Avenue, which includes a FedEx office, the Family Martial Arts center and a State Farm Insurance office. A Holden company called Prime Alamo Plaza LLC owns the 41,945-square-foot property, which has an outstanding debt of almost $5.9 million, plus interest.
Because the same company, U.S. Bank National Association, holds the mortgages on both properties, the cases were consolidated in April 2012. The 10th District Circuit Court in Bartow appointed Glass Ratner Management & Realty Advisors of Atlanta as receiver in October.”