Lender puts South Beach Gansevoort up for foreclosure auction

12/9/2009 | Miami Herald (free registration), The

Less than two years after the trendy Gansevoort South hotel opened in Miami's South Beach, the hotel's lender, Credit Suisse, is auctioning the ownership stake in a foreclosure sale. Sales on condos in a tower adjoining the 334-room hotel oceanfront hotel have been slow, and Credit Suisse says it is auctioning the ownership stake used to secure an $89 million mezzanine loan on the hotel.

View Full Article in:

Miami Herald (free registration), The

Published in Brief: