“Mother-f*ck them up”: Mandarin Oriental Boca Raton developer fires back against lender Madison Realty
The embattled developer of the Mandarin Oriental-branded Residences in Boca Raton sued their lender, an affiliate of Madison Realty Capital, ahead of a UCC foreclosure auction. Via Mizner Owner III LLC and Via Mizner Pledgor III LLC sued Via Mizner Lender 1 and Via Mizner Lender 2 LLC in New York state court on Thursday, seeking damages of more than $500 million. The plaintiffs, led by Mark Gensheimer, president and CEO of Penn-Florida Companies, alleged that Madison Realty “created the defaults” it’s using as the basis to foreclose on the properties. New York-based Madison, which is led by managing principals […]This article originally appeared on The Real Deal. Click here to read the full story.
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