Monday, May 24, 2010

Carlton Hotel on Miami's South Beach faces foreclosure

The Carlton Hotel, an Art Deco-style boutique hotel on South Beach, could be seized by a commercial mortgage-backed securities (CMBS) fund.


An entity formed by the CMBS fund to manage the $13 million mortgage, JPMCC 2007 CIBC19 Collins Lodging, filed a foreclosure lawsuit May 20 against Carlton Hotel LLC, according to Miami-Dade County Circuit Court records. It targets the 67-room hotel at 1433 Collins

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