Another Dan Kodsi Miami dev site is facing foreclosure
After securing a reprieve in a foreclosure case involving his Miami Worldcenter development, Dan Kodsi could lose another project site in the city to a lender. On Sept. 5, an affiliate of Delray Beach-based Forman Capital, led by Brett Forman and Ben Jacobson, sued two Kodsi-managed entities that own a 0.5-acre assemblage at 1317-1352 North Miami Avenue where the Miami-based developer is planning a 30-story condo-hotel. The foreclosure complaint, filed in Miami-Dade Circuit Court, alleges that the Kodsi entities defaulted on an $8.3 million bridge loan that matured on Aug. 16. Forman Capital is also seeking default interest and fees […]This article originally appeared on The Real Deal. Click here to read the full story.
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