South Florida Dirt: Mandarin Oriental Boca Raton developer fires back

The developer of the stalled Mandarin Oriental Boca Raton condo project was able to score one win, albeit small.  Affiliates of Penn-Florida Companies sued their lender, entities tied to New York-based Madison Realty Capital, over the pending foreclosure of the luxury development, which has been tied up in lawsuits and delays for years. Earlier this summer, affiliates of Madison sued to foreclose on the site, and a UCC auction was scheduled for last week.  Penn-Florida’s attorneys convinced a New York judge to halt the sale. A new hearing was set for Oct. 1, buying the developer a little time. The […]

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