Lender seeks to foreclose on Shore Club, Miami Beach
lender associated with Miami Beach-based LNR Partners is seeking to foreclose on the owner of the Shore Club, one of South Beach’s most prominent hotels and entertainment destinations.
A commercial mortgage-backed security fund serviced by LNR filed a notice to foreclose on March 3 against Shore Club owner Philips South Beach.
Philips has owned the 309-unit hotel at 1901 Collins Ave. since 1997, according to Miami-Dade County records. It obtained an $81 million loan for the hotel from First National Bank of Chicago in 1999. Over the years, the loan was assigned to various lenders. Most recently, Wells Fargo Bank on Oct. 12, 2009, assigned the loan to the CBMS fund. The fund is JPMCC 2005-CIBC13 Collins Lodging.
Read More: http://www.dailybusinessreview.com/news.html?news_id=61114
Random Posts
Sexy Celebrity Halloween Costumes – South Florida Sun-Sentinel.com
Sexy Celebrity Halloween Costumes - South Florida Sun-Sentinel.com.... Read More
Florida State Trooper Fraud
Miami-Dade County - The trooper's victims were befuddled when they learned they had pending traffic tickets. Most weren't even on the road during t... Read More
Win a breakfast with Sun Sentinel Editor Earl Maucker
Have a nose for news? Got a great idea for South Florida? Want an inside look at how stories get covered? Here's your chance to discuss it! Five w... Read MoreBreckenridge, Colorado voters legalize marijuana, paraphernalia | Raw Story
Voters in the ski resort town of Breckenridge, Colorado legalized marijuana and marijuana paraphernalia by a nearly three-to-one margin on Tuesday... Read More
WMC The List Countdown Week 2
Having problems viewing this E-mail? Click here to view it online. ... Read MoreLe Castle Vania “Bulletproof Tiger Tour” (Now Booking)
It didn't take long for Dylan Eiland, a.k.a. Le Castle Vania, to go from one of Atlanta's local heros to household name worldwide! With Atlanta's rap... Read More
