Oct
14

In Foreclosure: $41.5 Million Still Owed On Luxury Mount Pleasant Condos

By
– The Post and Courier

Lenders are foreclosing on a high-profile cluster of condominiums that anchor the Ravenel Bridge on the Mount Pleasant side, marking the largest Charleston-area luxury project to fall behind on its loan payments.

The Tides, a 120-unit project with commanding views of Charleston Harbor, isn’t fetching enough buyers for the developer to continue paying back the $103.5 million it has borrowed.

More than $41.5 million remains unpaid on the loan balances, according to a foreclosure lawsuit filed by Charlotte-based Bank of America in Charleston County Court of Common Pleas.

ARTICLE SHORTENED DUE TO LENGTH….

LINK TO ARTICLE HERE

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