315 LLC, the developer of Fort Lauderdale's Strada 315 condo filed for Chapter 11 even after selling 48, about 40 %, of the 117 units in the two months since completing construction. Strada 315 LLC of Delray Beach was denied an extension of a $34.8 million dollar construction loan by Regions Bank on the project at 315 NE Fourth Street in Flagler Village. The builder is affiliated with Delray Beach's Southpoint Realty Development.
Surfside-based Beach House Property LLC, which is connected to Beach House Designed by Richard Meier, at 9449 Collins Ave., filed for Chapter 11 bankruptcy protection on Friday. The 101-unit condo was to break ground on the property of the Beach House Hotel last year.
The company owes its 20 largest unsecured creditors $4.6 million dollars.
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