Sky Development of Aventura and its CEO, Yizhak Toledano, face yet another foreclosure action.

The South Florida Business Journal is reporting Capmark Bank has filed a $48.5 million lawsuit seeking to foreclose on Vistaview Apartments, a 308-unit complex at 17094 Collins Ave., Sunny Isles Beach The complex, built in 1972, obtained a $48.7 million mortgage from the Utah bank in 2007.

Sky Development also is in court over Vistaview. It claims the seller, Vistaview Development, misrepresented the number of two-bedroom units in selling the property to Sky.

Toledano and Sky are also facing two separate foreclosure suits over the City Park Aventura mixed-use project and a third over the proposed Park Plaza Professional Center in Pembroke Pines.

For the complete Business Journal story, go to:
http://www.bizjournals.com/southflorida/stories/2009/08/03/daily73.html