Ritz-Carlton, Fort Lauderdale condo association files for bankruptcy

The condo association that governs the Ritz-Carlton, Fort Lauderdale condo-hotel filed for bankruptcy after losing a legal fight with two hospitality investment giants. The Castillo Grand Hotel Condominium Residences Association (CGHCRA), which governs the condo-hotel units at the property, filed for Chapter 11 restructuring in U.S. Bankruptcy Court in Fort Lauderdale on Tuesday, the South Florida Business Journal reported. The move followed years of litigation with the owners of the hotel at 1 North Fort Lauderdale Beach Boulevard, affiliates of New York-based Brookfield Properties and Chicago-based Watermark Capital Partners.  The bankruptcy filing blocks the Brookfield affiliate from collecting on $7.9 […]This article originally appeared on The Real Deal. Click here to read the full story.