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New Receiver Appointed For Baywalk

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By ROD CHALLENGER

Published: January 16, 2009

ST. PETERSBURG - A Pinellas-Pasco circuit judge has replaced the receiver assigned earlier this week to oversee the downtown BayWalk entertainment complex, which is the subject of a foreclosure action.

Hunter Swearingen of Ciminelli Real Estate Services is the new receiver and property manager, appointed Friday afternoon by Circuit Judge Thomas McGrady. Swearingen replaces Howard Rosenthal, the initial appointee, who on Thursday was booked at the Pinellas County Jail on a grand theft charge involving an accusation he stole nearly $171,000 from his former employer, Colliers Arnold Real Estate.

Investigators said Rosenthal double-billed invoices, diverting money to his accounts. He resigned from Colliers Arnold in August and formed his own company.

Rosenthal was released from jail after posting $50,000 bail.

Wells Fargo Bank foreclosed on BayWalk when the owner of the complex, STP Redevelopment Limited, stopped making mortgage payments.

Swearingen will manage BayWalk, at Second Avenue North between First and Second streets, until at least Feb. 13. That's when the property will be auctioned. If no bid exceeds the amount owed to the bank holding Baywalk's mortgage, the bank would become the sole owner.

This week's developments do not directly affect any individual business at the BayWalk complex. Several businesses have closed in recent months, but others remain open.

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