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Foreclosure proceedings initiated include local development

By Staff | Jan 30, 2010

A luxury condominium community in Cape Coral is included among foreclosure proceedings filed this week against a local developer, according to records filed with the Lee County Clerk of Courts.
Grosse Pointe Development Company is the developer for Tarpon Point in Cape Coral, as well as Bell Tower Park and Palmas Del Sol in Fort Myers. The company received notification Tuesday that one of its lenders, the Dutch company SNSPF Interim Finance B.V., is attempting to recoup some of its investment.
This foreclosure filing is reportedly the largest of its kind in Lee County — a region with one of the highest U.S. foreclosure rates two years running.
Jeff Tucker, a spokesman for SNSPF from Tucker/Hall Public Relations in Tampa Bay, said the company felt a foreclosure action was the quickest way to move forward.
“As far as the lender goes, SNSPF filed a foreclosure because they reached an impasse and they have mortgages outstanding and they needed to be taken care of,” said Tucker in a telephone interview Friday.
He said SNSPF is having no financial problems and simply wants to settle its business with Grosse Pointe Development.
The foreclosure was filed this week and the court will name a receiver. Tucker said the company has no idea how long the proceedings could take.
“It really is a factor in how backed up your dockets are in Lee County in foreclosures,” he said.
Grosse Pointe Development CEO Bob Hensley could not be reached for comment Thursday or Friday. Calls made to his office were not returned.