Tuesday, October 27, 2009

South Beach real estate, Miami Commercial real estate

Capmark files for bankruptcy, Miami Commercial Real Estate

Capmark Financial Group, one of the nation's largest lenders of Miami commercial real estate lenders, has filed for bankruptcy protection accompanied by mounting bad debt.

Capmark has provided loans for many south beach real estate projects and developers in South Florida, including Dennis Stackhouse and AWE Talisman.

The firm said that the motions they filed will allow them to continue paying vendors and salaries, and that it should not impact the way Capmark does business with its customers and partners.

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