WORLD PROPERTY CHANNEL ®

The Vue, Downtown Orlando

(ORLANDO, FL) -- The Vue, a $100 million, 36-story, half-sold 375-unit Downtown Orlando luxury condo tower will be auction off on March 15, 2010 by the Fisher Auction Company of South Florida.

Originally built in 2007 by Churchill Development Group and Westminster Partners, the project still owes over $53 million in outstanding construction loans to a consortium of lenders that include Sovereign Bank, Charter One Bank, Great American Insurance Co., Comerica Bank, Mega International Commercial Bank, and Great American Financial Resources.

The March auction will include approximately 165 unsold condo units out of the original 375 total condo units, representing approximately 45% of the building.

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