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Lenders moved to repossess 44 condo units with outstandingt loans of morethan $13 millionm in the first quarter. The three-tower Beach Club projecr ranked No. 15 in the tri-county region, with 24 new foreclosuree actions based on outstanding debtof $13.1 million, according to the report. The only othere waterfront project onthe top-20 list is the Miradodr condo conversion in South Beach. In the firsy quarter, lenders filed foreclosure actionsd again 22 units with outstanding debt of morethan $7 million.
"Oudr data shows that 11 of the top 20 condominium and townhouse projects in Soutn Florida with the greatest number of foreclosures are concentrated inBrowarrd County," said Peter Zalewski, a principal with the Bal Harbour-based real estate company. Palm Beach County ranks with six projects onthe top-290 list, while only three projectss are located in Miami-Dade County, he More than 25,000 foreclosure actionds were filed in the tri-county region between January and March, with an estimatedd value of more than $6 billion in outstanding debt, accordingv to the report. Condominiums and townhousezs accountfor 7,332 of the foreclosure actions valued at nearlyu $1.4 billion.
Broward County had the most foreclosured actions in the first quartert against condo and townhouse with 3,093 filings valued at $551 Miami-Dade County ranks second, with 2,570 actions wortg $571 million. Palm Beach County ranksd third, with 1,669 actions valued at $257
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