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G-Star School Of The Arts Facing Foreclosure Over $6M
Lender files foreclosure lawsuit against Palm Beach County charter school over defaulted loan
Apr. 1, 2026 at 5:55pm
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G-Star School of the Arts, a public charter school in Palm Beach County, Florida, is facing a foreclosure lawsuit from a lender who claims the school defaulted on a $6.3 million loan used to refinance earlier debt and fund technology upgrades. The outstanding balance on the loan at the time of the suit stood at approximately $4.9 million.
Why it matters
The foreclosure lawsuit against G-Star School of the Arts, a prominent charter school in Palm Beach County, raises concerns about the financial stability and long-term viability of the institution. The school's potential closure could disrupt the education of hundreds of students and have broader implications for the local community.
The details
According to the complaint, G-Star School of the Arts, Inc., its affiliated foundation, and more than three dozen individuals are named as defendants. The original revenue bond was issued by Palm Beach County in November 2017 and was backed by Professional Bank. The loan was used to refinance earlier debt and fund technology upgrades at the school's campus in Palm Springs. Seacoast National Bank, which had acquired Professional Bank through a 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 filed the foreclosure action.
- The original revenue bond was issued by Palm Beach County in November 2017.
- Seacoast National Bank issued a formal notice of demand in October 2025.
- Red Apple at G-Star, LLC purchased the loan from Seacoast National Bank in January 2026.
The players
G-Star School of the Arts, Inc.
The public charter school in Palm Beach County, Florida that is facing the foreclosure lawsuit.
Red Apple at G-Star, LLC
The lender that filed the foreclosure lawsuit against G-Star School of the Arts, Inc. after purchasing the loan from Seacoast National Bank.
Seacoast National Bank
The bank that had acquired Professional Bank through a merger and issued a formal notice of demand to G-Star School of the Arts in October 2025.
Professional Bank
The bank that originally issued the $6.3 million revenue bond to G-Star School of the Arts in November 2017.
What’s next
The judge in the case will decide whether to allow the foreclosure to proceed against G-Star School of the Arts.
The takeaway
The foreclosure lawsuit against G-Star School of the Arts highlights the financial challenges facing charter schools and the potential disruption to students and the local community if the school is forced to close. The outcome of this case will be closely watched as it could set a precedent for how similar situations are handled in the future.
