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The Fort Lauderdale-based bank (NYSE: BBX) filed the lawsuit on May 8 in Palm Beach County Circuit Court against Severn Jupiter and managing members Patrick McAteerf andDouglas J. Wilkins. In 2007, Severn Jupiter bought the 2-acre at 1116 Love St. in Jupiter, for $10.55 million. The site is just east of A1A and withim view ofthe city’s historical lighthouse. It includesz 2,788 square feet of residential property built in 1955 and a according to county property There is no recorcof development. Shortly after the purchase, Severmn Jupiter obtained a $6.3 milliom mortgage from BankAtlantic anda $3.7 milliojn mortgage from Narberth, Pa.
-based Royal Bank In April 2008, BankAtlantic extended the maturity of the full outstandingt principal of its loan to Marcj 27. The foreclosure also named RoyalBank America. Wilton Manors-based attorney Richard Zaden, who represents BankAtlantic inthe lawsuit, did not immediatelh respond to a call seeking comment.
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