June 9, 2016
Florida Street Holdings LLC, owner of Chase South Tower at 451 Florida St. in Baton Rouge, LA, is fighting efforts by lender U.S. Bank National Association to foreclose on the property. The lender filed documents in late April complaining that the building’s owner owed more than $22 million, including interest payments.
However, Florida Street Holdings, which have owned the 333,000-square-foot property since 2007, filed a notice of appeal, challenging U.S. District Judge Shelly Dick’s late April ruling. The ruling ordered the seizure and sale of the 21-story building to satisfy the debt.
The Class A property is only 79% occupied, below the average for Baton Rouge’s downtown submarket.