FORT LAUDERDALE, FL - Scott Brenner, president of locally based Brenner Real Estate Group, has been appointed to receiver for three residential properties in South Florida. Brenner says the opportunity serves to diversify the firm's business during a tenuous economy. Experts believe more such companies will seek to expand into receivership in the coming months as the downturn continues.
The properties received by Brenner include Winston Pointe, a North Lauderdale residential townhouse complex under construction located at 1353-1409 Avon Lane. Mercantile Bank is foreclosing on the development, owned by Innovative Concept Homes LLC, which currently has 29 of 46 units complete. Fith Third Bank is foreclosing on a 28-unit condominium under development owned by 63 North Beach LLC. Brenner has been named receiver for the property, located at 63rd Street and Indian Creek Drive in Miami Beach. The last property, Villas Santorini, owned by Bella Vista Development is being foreclosed on by Fifteen BV LLC. Eleven of the 34-units in the townhouse development at 4652-4665 Santorini Drive in Lake Worth are complete, with six units sold and occupied. Brenner will be responsible for maintaining and managing each of the received projects.
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