Veranda Park Condos, MetroWest Orlando

The Orlando Business Journal reports today that Veranda Park condo developer Kevin Azzouz and Fifth Third Bank have been ordered to work out an issue relating to a bankruptcy filing and foreclosure auction at the Veranda Park condo project in MetroWest.

The filing concerns multiple ventures, including the office space as well as The Residences at Veranda Park, a 157-unit residential condo building on Hiawassee Boulevard. The condos are scheduled for foreclosure on July 14 if Azzouz’s ownership entity, VP Phase III LLC, doesn’t pay $59.7 million owed to Wachovia Bank NA/Wells Fargo and Regions Bank.

My guess is that the loan won’t be repaid, so look out for foreclosed units at Veranda Park – coming soon. Contact us here at Condo Metropolis for more info.

5 Comments

  1. Send me more information regarding the Veranda Park Condos.

    thanks,

    Felicita

  2. Hello Jens,

    Please forward updated information on this article.

    Thank you,

    Michelle

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