The stalled development for West Hollywood’s Eastside, called Movietown Plaza is now on the auction block. According to sources unnamed by the LA Business Journal, a New York private.equity firm Cerberus Capital Management LP refuses to grant its ex-partner, billionaire developer Alan Casden the right to develop the 371 residential unit mixed project located at [...]
Mountain Village’s luxury Capella Telluride/Hotel Madeline property went back to its lender, Swedbank, who acquired it in a foreclosure auction. The auction was held on July 14 at the San Miguel County Treasurer’s Office, with the starting bid of roughly $126.8 million. According to the treasurer’s office, the total debt on the property was roughly [...]
The unfinished luxury downtown fractional-ownership project wasn’t interesting for any of the investors in the area, so it went back to its lender in a foreclosure auction. The sale took place on the front steps of the Pitkin County Courthouse, and attracted around 30 curious outlookers, but none of them bid on the real estate. [...]
This isn’t the first foreclosure lawsuit Irwin Tauber, CEO of Bay Harbor Islands-based Taubco faces. It’s the fifth in a series of lawsuits but this one might be the last one, as it is the biggest foreclosure lawsuit which could result in the loss of his Causeway Square mixed-use project. Wells Fargo filed a foreclosure [...]
Movies represent an essential part of our everyday life. And now one of the biggest movie studios are approaching a foreclosure sale. But faith somehow let the studios breath fresh air. The foreclosure sales was delayed again although it was scheduled for Thursday. The meeting scheduled for that important day in the studio’s life was [...]
The housing collapse signed many dream’s death verdict and Semiahmoo is one of them. The horizon here once was envisioned as a 200-acre, 650-home subdivision where some dwellings would sell for as much as $2 million. Now: the all but vacant site is scheduled for an April 29 foreclosure auction to cover almost $41 million [...]
The well-known DiRimini apartment complex developer is now facing a foreclosure lawsuit as he defaulted on a $2.8 million loan given by the Louisville-based Stock Yards Bank Trust & Co. The 31-unit project at the southeast corner of Capitol Avenue and St. Clair Street has been troubled since city officials halted the work after finding [...]
The owners of Hard Rock Hotel & Casino in LA filed a lawsuit to prevent lenders from foreclosing the property and selling it on the courthouse steps in Manhattan on February 7. The complaint says that the lenders don’t have approval from the Nevada Gaming Commission and their claims of loan default aren’t real or [...]
The luxury condominium project, One Steamboat Place, located adjacent to the Steamboat gondola now faces foreclosure. The reason? Its developers owe $100 million on its original construction loan they got from several lenders. The developers think positive as they say along with two large investors that they are in the middle of negotiations with the [...]
The former 1515 condominium on Flagler Drive in West Palm Beach, the Gulfstream Hotel in Lake Worth and the Omphoy Ocean Resort have fallen into foreclosure as the have a total of $108 in loan default. The 1515 condo owned and planned by Trinity is a modern 24 story, $150 million condo. Trinity was sued [...]
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