Lender makes $40K credit bid for foreclosed Broward beach resort
The lender that foreclosed on the Hillsboro Beach Resort has taken control of the property, winning it at auction with a $40,100 credit bid. Emerald Creek Capital acquired the oceanfront resort at 1159 Hillsboro Mile in a July 16 foreclosure sale, months after suing the ownership entities controlled by BH3 Management principals Daniel Lebensohn and Gregory Freedman. The hotel was previously operated by collapsed short-term rental startup Sonder. A Broward County judge entered a $40 million final foreclosure judgment in April after the borrowers defaulted on a $26 million loan from an Emerald Creek affiliate, according to court records and […]This article originally appeared on The Real Deal. Click here to read the full story.
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