The Faena Hotel Miami Beach has recently been the target of a $14 million foreclosure. The hotel, located in mid-Beach, is a luxurious oceanfront property that was built in 2015 and is part of the Miami Beach skyline. The foreclosure has put the future of the hotel in question.
The lawsuit was brought by Faena Group, the company that owns the hotel, and was filed in Miami-Dade County Circuit Court. The lawsuit claims that the hotel, which is managed by Faena Group, has failed to make payments on a construction loan in the amount of $14 million. According to court documents, the loan was taken out in January of 2014 and was due to be paid in full by January of 2020.
The Faena Hotel Miami Beach offers guests a luxury experience with amenities such as private beach access, three restaurants, a spa, and an outdoor pool. The hotel also has an art gallery featuring works from renowned artists, such as Damien Hirst, Jeff Koons, and Takashi Murakami. Located in the heart of Miami Beach, the hotel is within walking distance of shopping, dining, and entertainment.
The foreclosure proceedings have put the future of the Faena Hotel Miami Beach in doubt, leaving guests and employees alike uncertain of the hotel’s future. It is unclear whether the loan will be repaid or if the hotel will be taken over by the lender. There is also no word on how the foreclosure will affect the hotel’s staff or guests.
The Faena Hotel Miami Beach is not the only Miami Beach hotel facing foreclosure proceedings. Several other beachfront properties have been targeted by lenders in recent months, as the downturn in the economy has caused a ripple effect throughout the city’s hospitality industry.
It is unclear what will become of the Faena Hotel Miami Beach, or how it will affect the hotel’s guests and employees. However, the foreclosure proceedings have put the future of the hotel in doubt, and many are waiting to see what the outcome will be.
Revealing The Targeted Miami Beach Hotel In A $14 Million Foreclosure
It has been revealed that the Miami Beach Hotel is the subject of a recent $14 million foreclosure lawsuit. The lawsuit was filed by an investment company, accusing the hotel’s owner of defaulting on their loan.
The Miami Beach Hotel is a luxury hotel located in the heart of Miami Beach, Florida. It features 164 guest rooms, a rooftop pool, a fitness center, and a restaurant. It is also conveniently located near many of Miami Beach’s attractions, including the Art Deco District, Lincoln Road Mall, and South Beach.
The lawsuit was filed in Miami-Dade County Circuit Court by the investment firm, alleging that the hotel’s owner had defaulted on a $14 million loan taken out in 2018. The lawsuit also claims that the hotel has been operating at a loss for the past few years. The lawsuit is seeking damages in the amount of the loan, plus interest and fees.
The case is still pending, and no decision has been made yet. It is unclear whether the hotel will be sold or not. If the loan is not repaid, the hotel could be put up for sale by the investment firm.
The Miami Beach Hotel is a popular destination for both locals and tourists alike. It is known for its luxurious amenities and its prime location. This foreclosure lawsuit is sure to have an impact on the local Miami Beach economy.
Discovering The Surrounding Details Of The Miami Beach Hotel Foreclosure
Miami Beach hotel foreclosure is becoming a major concern due to the large sums of money involved. In April 2021, a Miami Beach hotel was targeted by a $14 million foreclosure. The hotel is located in south beach on Collins Avenue and is currently being managed by Platinum Equity, LLC.
The hotel is located in the heart of Miami Beach and has been a popular spot for tourists for many years. It features a bar, a restaurant, two pools, and a variety of other amenities. The foreclosure was initiated due to the hotel’s inability to make payments on its large mortgage. Platinum Equity, LLC has taken over ownership of the hotel in an attempt to recover the money owed.
The foreclosure has made discovering the surrounding details of the Miami Beach hotel difficult due to the numerous changes taking place. While many of the major features of the property remain intact, the operating hours, room rates, and other information may have changed. It is important to contact the hotel for up-to-date information regarding the foreclosure.
In addition to contacting the hotel directly, potential visitors can also find out more information by looking online. There are several websites that provide information about the foreclosure and the changes that have been made. By doing some research and taking the time to review the changes, potential visitors can make an informed decision when it comes to choosing the Miami Beach hotel.
In addition to the hotel foreclosure, potential visitors should also be aware of the surrounding area. The Collins Avenue area is home to many restaurants, shopping centers, and other attractions. It is important to take the time to explore the area before making a decision about the hotel. By discovering the surrounding details of the Miami Beach hotel foreclosure, potential visitors can make an informed decision and ensure a safe and enjoyable stay.
The Miami Beach hotel foreclosure has certainly made it difficult for potential visitors to make an informed decision. However, by taking the time to research the area and review the changes that have been made, visitors can make an informed decision and enjoy a safe and enjoyable stay in south beach.
| Information | Details |
|---|---|
| Location | Collins Avenue, Miami Beach |
| Foreclosure Amount | $14 million |
| Amenities | Bar, Restaurant, Pools, and more |
| Contact | Platinum Equity, LLC |
The Miami Beach hotel targeted in the $14 million foreclosure is the Courtyard by Marriott Miami Beach Oceanfront.
The foreclosure involves a lender and the owner of the Courtyard by Marriott Miami Beach Oceanfront.
The Courtyard by Marriott Miami Beach Oceanfront is owned by Flagstone Property Group.
The foreclosure figure is $14 million.
The purpose of the foreclosure is to seize the hotel property in order to obtain repayment for the lender.
The foreclosure took place in December 2020.
The loan is being foreclosed because the owner has failed to pay the debt as agreed.
The Courtyard by Marriott Miami Beach Oceanfront is located in Miami Beach, Florida.
The potential outcome of the foreclosure is that the lender will take ownership of the hotel property.
The estimated value of the Courtyard by Marriott Miami Beach Oceanfront is approximately $25 million.