Bankrupt Miami Hospital Gets OK For Ch. 11 Auction Plans

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Bankrupt Miami Hospital Gets OK For Ch. 11 Auction Plans

A shuttered Miami hospital in Chapter 11 stayed on track to be sold in auction in late June when a Florida bankruptcy judge gave her blessing to the sale process Monday after approving a settlement the parties reached to resolve objections from the unsecured creditors committee.

Posted in In the News, Peter D. Russin - In the news

Arena Capital sells two retail buildings in Hialeah

Miami-based Arena Capital just sold two of its retail buildings in Hialeah for a total of $7.65 million.

Posted in Bryan Vega - In the news, In the News, Mark S. Meland - In the News

Miami hospital files Chapter 11 with $67M in debt

Miami International Medical Center LLC, which ran the recently closed Miami Medical Center, has filed Chapter 11 while listing $31.4 million in assets versus $67.3 million in liabilities.

Posted in In the News, Peter D. Russin - In the news

End to Government Shutdown Avoids Risk of Home Sale Delays

U.S. Senate progress Monday to end the federal government shutdown was good news for federal employees facing furloughs as well as home buyers facing dragged-out deals.

Posted in In the News, Mark S. Meland - In the News

Meland Russin Closes $7.5 Million Palm Beach County Bulk Condo Buy

Meland, Russin & Budwick partner Mark Meland closed the $7.5 million purchase of some of the units at a condominium west of Delray Beach. New York-based multifamily property investor ESG Kullen bought 93 of the 275 units at the Murano of Delray Beach at 15005 Michelangelo Blvd. southwest of Atlantic Avenue and Jog Road.

Posted in In the News, Mark S. Meland - In the News

ESG Kullen does bulk condo buy in Delray Beach

ESG Kullen just closed on a bulk condo deal in Delray Beach, and plans to immediately renovate and sell them off individually.

Posted in In the News, Mark S. Meland - In the News

Trump wants tax reform. Could it hurt South Florida real estate?

The tax reform proposal unveiled this week in Washington calls for capping the interest expense deduction for residential mortgages at $500,000 rather than the current $1 million. Deductions would be allowed only for primary residences. How could that affect South Florida’s real estate market, one of the region’s biggest employers?

Posted in In the News, Mark S. Meland - In the News

Condo bulk sale in Palm Beach goes for $18M

A large portion of the units in the Monteverde at Renaissance Commons condominium in Boynton Beach have sold in a bulk deal for $17.88 million. Of the 267 units in the building, at 1625 Renaissance Commons Blvd., 118 were owned by 1625 Monteverde LLC, an affiliate of New York-based Delma Properties.

Posted in In the News, Mark S. Meland - In the News

Your Contingency Fee May Be at Risk if Your Client Files for Bankruptcy

Attorneys bringing personal injury and other suits on a contingency fee basis often face bankruptcy-related issues. A defendant may be insolvent, a bankruptcy trustee may assert an insurance policy is property of a bankruptcy estate, or a bankruptcy trustee may bring a competing claim against the same defendant, as just a few examples.

Posted in In the News, Solomon B. Gene - In the News

Hurricane Irma Drags Out Some South Florida Real Estate Deals

The sale of a Miami residential property was scheduled to close Sept. 8. The sale of a home in the exclusive Ocean Reef Club in Key Largo was to close Sept. 15. And the sale of Boynton Beach condominiums was to close Sept. 22.

Posted in In the News, Mark S. Meland - In the News