Sep
01

Quick Sale of Charleston’s Noisette Land Sought

By
– The Post and Courier

The new lender for the developer of the Noisette project is pushing forward with foreclosure proceedings as fast as the Charleston County court system will let it go.

Master-in-Equity Judge Mikell Scarborough opens bidding today on three parcels of the Noisette land, roughly 240 acres at the north end of the former Navy base that were supposed to serve as an anchor of North Charleston’s urban revitalization efforts.

That property owned by Noisette at Navy Yard LLC fell into foreclosure last year when its mortgage lender, Capmark Finance Inc., said the developer fell behind on a $24 million loan.

Capmark sold the note last week to CHSA LLC, a recently formed entity registered in Delaware.

ARTICLE SHORTENED DUE TO LENGTH….

LINK TO ARTICLE HERE

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