Portland properties on auction block
Two prominent parcels in Portland's Old Port are scheduled to be auctioned off this month as part of foreclosure proceedings.
A June 30 auction seeks to find buyers for properties on Wharf and Fore streets, at the intersection of Union Street, currently home to restaurants, retail shops and bars, according to the Portland Press Herald. The properties are owned by Old Port Retail Holdings LLC, which bought them in May 2007 for a total of $8.31 million. The firm's lawyer did not divulge details of the foreclosure. Mortgage holder BACM 2007-3 Wharf Street LLC, which is managed by Florida-based LNR Partners LLC, scheduled the auction, according to the paper.
The properties are home to Blazin' Ace, Gorgeous Gelato, the Havana South restaurant and three bars -- Oasis, Pearl and Fore Play.
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