An affiliate of Encore Housing Opportunity Fund has secured the winning bid for the vacant Fashion Mall during a bankruptcy auction. The mall, which sits on 32 acres sold for $37.7 million (45.53 per square foot). Located at 321 North University Drive in Plantation, the winning bid rose 57 percent from the initial bid of $24 million. The transaction is pending final approval that’s expected Friday morning.
“We think it’s a great result for the bankruptcy estate, a great result for the creditors, and a great result for the city of Plantation,” said Glenn Moses, a shareholder of law firm Genovese Joblove & Battista, which represents the trustee in the Fashion Mall bankruptcy case. “I think this property will finally be developed after almost a decade of non-use” Moses said.
