Monroe Capital sues Ari Pearl, BH3 principals over Mondrian Hallandale Beach loan

Monroe Capital sued the developer of the Mondrian Hallandale Beach Residences to recover a $70 million loan, just as the luxury condo tower is being completed.  Chicago-based Monroe, led by Ted Koenig, sued Maltese Diplomat 100 Mezz LLC, PPG Development’s Ari Pearl, BH3’s Daniel Lebensohn, Greg Freedman and Eric Edidin, and two secondary guarantors in New York on Monday, court filings show.  Monroe alleges the developer LLC failed to make its payment in February, triggering a default on the mezzanine loan. Monroe is seeking full repayment, which now totals about $72.7 million, plus costs and attorneys’ fees.   The mezzanine debt […]This article originally appeared on The Real Deal. Click here to read the full story.