A company managed by billionaire insurance magnate William R. Berkley and equity fund manager Bruce Berkowitz acquired a collection of properties in Miami’s Coconut Grove at bankruptcy auction for $5.4 million.
The “mystery” buyers who won six sought after West Coconut Grove lots in U.S. bankruptcy court are not so mysterious after all: They are well known Miami financial figures Bruce Berkowitz and Bill Mahone.
A company led by billionaire William Berkley and Bruce Berkowitz of Fairholme Holdings just picked up pieces of an assemblage in west Coconut Grove.
The $5.4 million purchase of six lots along Miami’s Grand Avenue is the latest development for a storied stretch that’s been mired in lawsuits, including a bankruptcy filing, and is home to dilapidated buildings and vacant parcels.
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?
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.
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.
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.
The referral sources for home health care companies can be protected by noncompete agreements because they qualify as a legitimate business interests under the state law on restrictive covenants in contracts, the Florida Supreme Court ruled.
By December 8, 2000, GE Capital Corporation (GECC) had received nearly $50 million that it had loaned to Petters Capital, a company that specialized in buying bulk lots of merchandise from various retailers and then re-selling them to large, big box, distributors like Costco and Walmart.