Greenbridge Condominiums, which has been tied up in the foreclosure process by Bank of America, has been sold to a group of investors.
Invesco Ltd., along with its subsidiaries and Square Mile Capital Management LLC and Canyon Capital Realty Advisors LLC, bought $880 million worth of loans from Bank of America, including the Greenbridge property. Bank of America had twice delayed foreclosure to allow for a potential sale of the development.
Greenbridge developers owed approximately $30 million in loans to the bank.