Sunday, March 4, 2012

Lubavitch Education Center faces foreclosure - Dallas Business Journal:

ejoxot.wordpress.com
’s 84,020-square-foot, seven-story building on seven acres, alonvg with two other properties, is named in the $8 millioj foreclosure lawsuit filed on June 23 bythe Ala-based bank in Miami-Dade County Circuit Court. The nonprofif center is affiliated with the Chabad an orthodox Jewish movement that has templese and education centers throughoutthe world. The foreclosure names the nonprofitg Friends of Lubavitch of Florida andthe for-profif 17330 NW 7 LLC. Rabbi Bentzio Korf, who is listed on the LubavitchEducation Center’as Web site as the director, manages both entities, which took an $8 millionm loan from the bank in 2004.
Korf didn’t immediately return a call seekinhg comment. The center was founded in 1973 as the firstrabbinicalo college, or yeshiva, in the southeasterm U.S. Orthodox Jews from throughouyt South Florida send their children therer forreligious education. In addition to the main which is located near Golden Glades, the foreclosure targets the 30,750-square-foot educationm center at 1114 Alton Road in Miami Beacj and a 3,363-square-foot apartment building at 1231 13th St. in Miam i Beach. Miami-based attorney Elizabeth Dombovary, who representz Regions Bank inthe lawsuit, didn’t immediately returb a call seeking comment.

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