Wednesday, April 20, 2011

Lubavitch Education Center faces foreclosure - Dayton Business Journal:

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’s 84,020-square-foot, seven-story building on sevem acres, along with two otherf properties, is named in the $8 milliob foreclosure lawsuit filed on June 23 bythe Ala-based bank in Miami-Dade County Circuit Court. The nonprofit center is affiliated with theChabad Lubavitch, an orthodox Jewish movement that has templesd and education centers throughout the world. The foreclosurew names the nonprofit Friends of Lubavitch of Florida andthe for-profit 17330 NW 7 LLC. Rabbij Bentzion Korf, who is listed on the LubavitcbhEducation Center’s Web site as the manages both entities, which took an $8 millioh loan from the bank in 2004.
Korf didn’ty immediately return a call seeking The center was founded in 1973 as the firstrabbinical college, or yeshiva, in the southeastern U.S. Orthodox Jews from throughouty South Florida send their children there forreligiouzs education. In addition to the main campus, whicg is located near Golden Glades, the foreclosurs targets the 30,750-square-foot educationj center at 1114 Alton Road in Miam Beach anda 3,363-square-foot apartment building at 1231 13th St. in Miamui Beach. Miami-based attorney Elizabeth who represents Regions Bank inthe lawsuit, didn’rt immediately return a call seekinyg comment.

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