BATON ROUGE, La. (AP) — KeyBank National Association is thenew owner of the Perkins Rowe
development after being the only bidder ata foreclosure auction for the property.The Advocate reports
(http://bit.ly/1dqweOc ) the Cleveland-based
bank bid $69.3 million for the property.TheBaton Rouge development includes 87 condominiums, 226
apartments, morethan 60 shops and restaurants, two parks, a bookstore, grocery store,fitness center,
pharmacy and movie complex.The auction took place Wednesday. It had been postponed on three different
occasions.U.S.District Judge James Brady awarded KeyBank and other participatinglenders a judgment last
year for more than $201.9 million againstdeveloper J.T. Spinosa and three of his firms, which ceased
payment onconstruction loans in 2008. In January, Brady gave the bank permissionto move forward with the
foreclosure of the property.___Information from: The Advocate, http://theadvocate.comCopyright 2013 The Associated
Press. All rightsreserved. This material may not be published, broadcast, rewritten
orredistributed.BATON ROUGE, La. (AP) — KeyBank National Association is thenew owner of the Perkins Rowe
development after being the only bidder ata foreclosure auction for the property.The Advocate reports
(http://bit.ly/1dqweOc ) the Cleveland-based
bank bid $69.3 million for the property.TheBaton Rouge development includes 87 condominiums, 226
apartments, morethan 60 shops and restaurants, two parks, a bookstore, grocery store,fitness center,
pharmacy and movie complex.The auction took place Wednesday. It had been postponed on three different
occasions.U.S.District Judge James Brady awarded KeyBank and other participatinglenders a judgment last
year for more than $201.9 million againstdeveloper J.T. Spinosa and three of his firms, which ceased
payment onconstruction loans in 2008. In January, Brady gave the bank permissionto move forward with the
foreclosure of the property.___Information from: The Advocate, http://theadvocate.comCopyright 2013 The Associated
Press. All rightsreserved. This material may not be published, broadcast, rewritten orredistributed.