Fort Lauderdale’s Cypress Creek office tower facing $6M foreclosure

The Cypress Creek Tower in Fort Lauderdale is facing foreclosure following the loss of its anchor tenant, Wells Fargo, the South Florida Business Journal reported. An LLC representing a commercial mortgaged-backed security filed the lawsuit last week, against Cabot Cypress Creek Tower 1 LLC — an affiliate of Boston-based Cabot Investment Properties, which has two other Broward County office buildings in CMBS foreclosure. The new lawsuit concerns a  $6 million outstanding loan to the 67,222-square-foot office building, which has not been paid since June. Cabot Cypress Creek Tower is located at 800 W. Cypress Creek Road. [SFBJ] —Christopher Cameron