Blaine hotel builders sued Blaine Hospitality faces foreclosure proceedings after defaulting on a $5 million loan to Home Federal Savings. The developer says construction delays are to blame. The developers of a 98-room hotel near the National Sports Center in Blaine are facing foreclosure after defaulting on $5 million in construction financing. Home Federal Savings …
Category Archives: Commercial Properties
In slow market, developers offer ‘test drive’ of condos
In slow market, developers offer ‘test drive’ of condos The Carruth, a mix of affordable apartments and market-rate condominiums in Dorchester, opened earlier this year, as the market for condos had turned sharply downward. Sales of the 42 condos in the building languished, with only three sold to date. So, developer Trinity Financial Inc. of …
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New Citizens discounts kicking in for condos [Florida]
New Citizens discounts kicking in for condos [Florida] Local condominiums will see significant savings on their insurance premiums starting Monday. Citizens Property Insurance Corp., which insures many of the condominium buildings in the state, is doubling the hurricane mitigation discounts for condo buildings with a replacement cost of $10 million or less, as policies renew …
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In Downtown, Concentrated Housing Trouble
In Downtown, Concentrated Housing Trouble If the rate of new condo sales in downtown San Diego continues the way it did in the first half of 2008, it would take five years and three months to sell all of the new units in the city core, according to recent sales counts from MarketPointe Realty Advisors, …
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Las Olas Riverfront auction on hold after buyer emerges [South Florida]
Las Olas Riverfront auction on hold after buyer emerges [South Florida] A foreclosure auction for Las Olas Riverfront was put on hold Tuesday, when an interested lender reached a last-minute agreement to take over the troubled retail and restaurant complex. A lender of the Fort Lauderdale retail complex, Madeleine L.L.C., filed an emergency motion late …
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Buyer wants to check out of Trump condo-hotel contract
Buyer wants to check out of Trump condo-hotel contract The Trump International Hotel & Tower project on Fort Lauderdale beach Monday became the latest condo-hotel development to face a legal battle from an unhappy investor. John Taglieri, of Nahant, Mass., filed a lawsuit asking for his $146,000 deposit back and other damages, alleging that he …
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