Forman Capital seeks foreclosure of dev site in Miami’s A&E District

Forman Capital is seeking to foreclose on a development site slated for a condo-hotel in Miami’s Art & Entertainment District over an alleged $8.3 million loan default.  The project was being managed by developer Dan Kodsi, but he and the borrowers’ attorney Joseph Pardo told The Real Deal he is no longer involved.  On Sept. 5, an affiliate of Delray Beach-based Forman Capital, led by Brett Forman and Ben Jacobson, sued two entities that own a 0.5-acre assemblage at 1317-1352 North Miami Avenue where the Miami-based developer planned a 30-story condo-hotel. The foreclosure complaint, filed in Miami-Dade Circuit Court, alleges […]This article originally appeared on The Real Deal. Click here to read the full story.