Penn-Florida sets stage for Mandarin Oriental hotel dev site auction
Penn-Florida Companies has set the stage for an auction of its Mandarin Oriental hotel development site in Boca Raton, though it’s still angling for a recapitalization or refinancing. Boca Raton-based Penn-Florida’s affiliate filed proposed bid procedures this week for its 1-acre site where the 12-story, 164-key Mandarin Oriental is under construction, the South Florida Business Journal reported. The firm’s attorney, Bradley Shraiberg, said the development is in “advanced stages,” with several prospective investors and lenders. A refinancing or a recapitalization could still void an auction. Bankruptcy Judge Erik Kimball in West Palm Beach is yet to approve the proposed bid […]This article originally appeared on The Real Deal. Click here to read the full story.
Categories
Recent Posts
Nothing we make is real. Everything we make is real.
Reconsideration of value is an opportunity to strengthen appraisal quality
Leasing broker Grant Killingsworth jumps to JLL from CBRE amid renewed office market excitement
Falling concrete, oil leak: Ritz-Carlton condo owners sue Gencom, Hersha over alleged yearslong neglect
‘Don’t Say Good Luck’ Star Melanie Lynskey Admits She ‘Dreams’ of Buying a Home in Her Native New Zealand—but Can’t Afford It
This is why the US doesn’t have a housing shortage
Two mansions led slow buying week for Palm Beach luxury market
Remodeling Spending Surges in Michigan and Continues To Outpace Construction Nationwide
Better sues Vishal Garg over alleged securities violations
Zillow faces renewed RESPA claims in amended Taylor suit
GET MORE INFORMATION
Stevan Stanisic
Real Estate Advisor | License ID: SL3518131
Real Estate Advisor License ID: SL3518131