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PO Box 1212 Tampa, FL 33601 Pinellas Updated November 2024
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RETURN TO NEWS INDEX Colonial Bank, lender for once Trump-eted tower project pen potential swan song TAMPA -- It may be the end of Trump Tower Tampa as we hardly knew it. While not marking an official end, the May 7 foreclosure filing on the Ashley Drive land earmarked for the 52-story, $225 million tower is a sign that SimDag LLC's on again, off again sojourn could be finally be coming to a close. Colonial Bank, a subsidiary of Colonial Bancgroup Inc. (NYSE: CNB), initiated a 108-page foreclosure action through the Hillsborough County Circuit Court against a number of defendants beginning with SimDag/RoBEL LLC, the original name of the Trump Tower Tampa developer. The bank is seeking a return of more than $3.2 million it loaned the developer in September 2006 to consolidate SimDag's existing mortgages on the land. The note replaced three previous mortgages valued at $6.9 million, according to court documents. |
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