Florida Tourist Traps Sing Foreclosure Blues

Two somewhat well known Florida tourist traps made news recently as lenders made moves to reposess them. For more, see:

• Fort Lauderale: Deal delays auction of Las Olas Riverfront: The foreclosure auction for Las Olas Riverfront was postponed Tuesday after a lender on the complex indicated it will exercise its rights to buy the troubled property. [...] Cerberus [Capital Management, the lender,] has already been talking to developers about the property, a 260,000-square-foot retail and entertainment complex that ultimately struggled to attract customers and keep tenants.

• Orlando: Church Street Station goes into foreclosure: The rocky road that Church Street Station is traveling as the dining-and-entertainment complex in downtown Orlando tries to make a comeback has hit another pothole, as a lender who helped developer Cameron Kuhn buy the property out of bankruptcy court has filed to foreclose on it.