PALM BEACH COUNTY, FL (BocaNewsNow.com) (Copyright © 2026 MetroDesk Media, LLC) — G-Star School of the Arts is facing a foreclosure lawsuit from a lender who claims the school defaulted on a loan issued for more than $6 million. The school operates as a public charter school in Palm Beach County.
The complaint, filed March 26 by Red Apple at G-Star, LLC, names G-Star School of the Arts, Inc. as the primary defendant along with its affiliated foundation and more than three dozen individuals. Court records show the original revenue bond — issued by Palm Beach County in November 2017 in the amount of $6,315,000 and backed by Professional Bank — was used to refinance earlier debt and fund technology upgrades at the school, located at 2030 South Congress Avenue in Palm Springs. The outstanding balance on the loan at the time of the suit stood at approximately $4,985,311.97.
According to the complaint reviewed by BocaNewsNow.com, the borrowers defaulted by failing to comply with the debt service coverage covenant required under the loan documents. Seacoast National Bank, which had acquired Professional Bank through merger, issued a formal notice of demand in October 2025. Red Apple at G-Star, LLC subsequently purchased the loan from Seacoast National Bank in January 2026 for just under $5 million and issued its own notice of demand the same month before filing the foreclosure action.
The suit seeks foreclosure of the mortgage on school property in Palm Springs as other fees and penalties. G-Star had not filed a response to the suit as of Wednesday afternoon.
