Map: Tracking Penn-Florida’s woes as its Mandarin Oriental condo takes shape
As two long-delayed high-profile projects head to the finish line in Boca Raton, details of the financial and legal problems that slowed their development are coming to light. Mark Gensheimer’s Penn-Florida unveiled ambitious plans for Boca Raton a decade ago. The firm, already an office owner in the city, was pursuing an assisted living facility. It unveiled plans in 2015 for its marquee Mandarin Oriental condominium and hotel in a gushing news release. But over the past two years, Penn-Florida faced foreclosure suits on two of its office buildings and the assisted living development site, which is vacant. It filed […]This article originally appeared on The Real Deal. Click here to read the full story.
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