Troubled developer offers four Oxford Commons properties in foreclosure sale | Business



Oxford Commons aerial

Four parcels at Oxford Commons are set for a mortgage foreclosure sale at the end of October.



Some real estate at Oxford Commons is set for a mortgage foreclosure sale at the end of the month, following the apparent dissolution of the Kentucky-based firm that owned the land. 

Property owned by WR Oxford, an arm of Lexington, Ky., company White Reach Development, will be auctioned off for cash on Oct. 30 at the Calhoun County Courthouse main entrance. 

The four parcels for sale are currently home to Five Below (a variety store), Ulta Beauty, Moe’s Southwest Grill and America’s First Federal Credit Union.

The sale does not include the land on which Publix supermarket, Panera Bread or Panda Express sit. 

“At the sale, the Property may be offered for sale and sold” as a whole, individual tracts, “or in any other manner the Mortgagee

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Southland Mall’s Troubled $65M CMBS Loan For Sale

Southland Mall, 20505 South Dixie Highway in Cutler Bay with JLL's Tom Hall and Danny Finkle (Google Maps, JLL)

Southland Mall, 20505 South Dixie Highway in Cutler Bay with JLL’s Tom Hall and Danny Finkle (Google Maps, JLL)

JLL is marketing the $65 million commercial mortgage-backed securities loan that the former owner of Southland Mall in Cutler Bay defaulted on earlier this year.

The CMBS loan is tied to the 990,000-square-foot indoor mall at 20505 South Dixie Highway. The mall’s former owner, Investcorp, defaulted on the loan in April and handed the keys over to its CMBS lenders this summer. The mall is currently in foreclosure and a receiver was appointed by a Miami-Dade Circuit Court judge.

The loan is structured with a two-year term with three one-year extension options, according to a press release. The JLL Capital Markets team representing the seller includes Tom Hall and Danny Finkle.

“We predict a significant uptick in transaction volume in the first half of next year,” Hall told The Real Deal

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Kansas replaces troubled Medicaid contractor, Maximus

After years of complaints about backlogs and mishandled Medicaid applications, the Kansas Department of Health and Environment is parting ways with Maximus, the private for-profit company that administered the KanCare clearinghouse.

One of the firms hired by former Gov. Sam Brownback’s administration to bring lower costs and private sector efficiency to state government, Maximus instead got poor marks for processing applications and operating KanCare’s customer service call center.

Nursing homes, which rely heavily on Medicaid reimbursements, reported financial struggles as the number of seniors covered by the federal-state health insurance program dropped despite an increasing elderly population. In 2019, Governor Laura Kelly announced plans to hire 300 state workers to take the most complex Medicaid applications away from Maximus.

Instead of bringing the entire Medicaid screening operation back in-house, Kansas has hired another private contractor beginning next year. The New Jersey-based Conduent has had its own troubles. Among them was

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