Monarch Sues to Foreclose on Dan Kodsi’s Miami Worldcenter Project
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Developer, Lender Trade Lawsuits For Control Of Stalled 50-Story Miami Tower
Monarch Alternative Capital has been the senior lender for an unfinished 50-story hotel and condo tower at the Miami Worldcenter megaproject for a month, but it is already pursuing a court-ordered foreclosure to take over the project from its developer. The developer, Royal Palm Cos., filed a countersuit Monday morning claiming Monarch is engaging in predatory tactics and that the project's original lender, an affiliate of World Trade Center dev…
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