Chase Tower Owners Fight Foreclosure from US Bank as Trustee for JP Morgan Chase
The New York-based investors who own the Chase South Tower building at 451 Florida St. downtown are fighting efforts by their lender to foreclose on the property.
In late May, Florida Street Holdings LLC filed a notice of appeal with the U.S. Fifth Circuit Court of Appeals, challenging U.S. District Judge Shelly Dick’s April 29 ruling that orders the seizure and sale of the 21-story high-rise to satisfy some $22 million owed to the lender, U.S. Bank National Association.
Appellate briefs with the Fifth Circuit have not yet been filed.
Separately, attorneys for Florida Street Holdings have also filed documents with the U.S. District Court for the Middle District, asking Dick to throw out her seizure and sale order as well as the bank’s original complaint against the group.
In that original foreclosure suit, the bank says it is owed some $22 million including, 6.5% interest. It also said Florida Street Holdings has not paid its monthly note on the building since October 1.
In its court filings, Florida Street Holdings questions whether U.S. Bank is the true owner and holder of the promissory note, mortgage and loan documents.
Copy of the original foreclosure case below…