FORT LAUDERDALE, FL - Scott Brenner, Esq., CCIM, SIOR, RPA, president/broker of Brenner Real Estate Group, has recently been appointed as receiver for a residential condominium complex in Brevard County. The property, Ocean Dunes, is located at 110-140 Warsteiner Way, Melbourne, FL.
The Circuit Court of the 18th Judicial Circuit in and for Brevard County awarded Mr. Brenner the receivership duties on October 30, 2008. Ocean Dunes is being developed by Ocean Dunes at Aquarina Developers, Inc. The lender foreclosing its mortgage is Mercantile Bank. The development consists of three, eight-story buildings that house 28 units per building for a total of 84 units. The first building is completed, the second should receive a certificate of occupancy by the end of the year, and the third building will be completed in 2009. Through Brenner Real Estate Group's Melbourne office at 6767 N. Wickham Road headed by Carla Casey, regional manager/property management, Mr. Brenner will be responsible for protecting, maintaining and managing the property including leasing and marketing.
Brenner Real Estate Group recently announced three other residential properties just awarded to Mr. Brenner as receiverships. The properties include Villas Santorini in Lake Worth, Winston Pointe in North Lauderdale, and 63 North in Miami Beach. The addition of Ocean Dunes brings the total residential units under Brenner's receivership to 175. Scott Brenner commented, "Ocean Dunes is another victim of the combined meltdown of real estate and the overall economy. We have taken our years of experience as receiver, developer, and property management professionals and refocused that experience to work through the existing environment. Our efforts will assist the lenders in finishing the project and maximizing the return of their invested capital."