Jordache founders default on South Beach Breakwater hotel’s $28M loan, debt in special servicing
The Nakash family’s woes at its Breakwater hotel in South Beach continue, this time because of a loan default. The debt on the 100-key hotel at 940 and 960 Ocean Drive in Miami Beach entered special servicing after the Nakashes failed to pay off the loan at its maturity last month, marking the thir
Great Gulf wins rezoning for second West Palm Beach condo project
Canadian developer Great Gulf won a rezoning for its latest condo project in West Palm Beach. The West Palm Beach City Commission voted unanimously to grant the firm its requested rezoning and waivers for its planned 31-story, 97-unit condo project at 5400 North Flagler Drive. Toronto-based Great Gu
Ciprés, Rilea score $90M construction loan for condo project near Wynwood
Ciprés and Rilea Group landed a $90 million construction loan for The Rider Residences, a planned condominium near Wynwood. Mexican bank Banco Inbursa provided the financing for the 12-story condo project with 146 units and 11,000 square feet of retail, a press release states. Javier Herrera with Fr
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