Foreclosure looms for Brookfield’s Pembroke Lakes Mall after alleged $260M loan default

A $260 million foreclosure is coming for Pembroke Lakes Mall in Pembroke Pines.  Deutsche Bank filed a foreclosure lawsuit against the mall’s ownership last month, the South Florida Business Journal reported. The 748,800-square-foot complex at 11701 Pines Boulevard is owned by BGRE, formerly Brookfield Properties, which wasn’t named in the lawsuit.  The owner allegedly defaulted on the 2013-issued $260 million loan last year, failing to repay the financing by the March maturity date, the outlet said. The loan was transferred to special servicing, and the borrower now owes the full principal amount, plus fees and interest, according to the lawsuit.  […]

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