Alfie Oakes staves off farms foreclosure action

Author: Aisling Swift, Gulfshore Business
Published: Updated:

Farm Credit of Florida has dropped its $2.78 million foreclosure lawsuit against Francis Alfred “Alfie” Oakes after both parties reached an undisclosed agreement.

A notice of voluntary dismissal was filed in Collier Circuit Court on Nov. 20 by the lender, an agent of Florida Federal Land Bank Association, which sued Oakes Farms OP LLC, Oakes, his wife, Deanne, and Synovus Bank on Oct. 14. The lis pendens — a first step in a foreclosure — also was released.

Synovus was listed as a defendant because it loaned the couple money to rebuild after Oakes Farms market on Davis Boulevard was flooded and heavily damaged by Hurricane Ian in 2022. County records show the couple made two payments in March, partially paying off that loan, and this month, they paid off a $2 million mortgage and promissory note from Sound Point Funding Corp. In February, a $22,684 lien filed by an environmental company also was satisfied.

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