Condominium Complex Files for Bankruptcy
Posted on Feb 18, 2011 3:20pm PST
Beacon Pointe in Duluth, Minnesota has reportedly filed for bankruptcy. The high-end condominium complex allegedly filed Chapter 7 bankruptcy after they had already defaulted on their mortgage last year. It is being reported that the Beacon Pointe Developers owe about $10 million on their $14 million mortgage.
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