Credit Suisse takes over Gansevoort in Miami Beach
On Thursday, the owners of Gansevoort South lost their Miami Beach hotel to lenders as the distressed condo-hotel conversion couldn't find a buyer for an $89 million loan on their Miami commercial real estate property.
An affiliate of Credit Suisse took possession of the 334-room Miami commercial real estate property after no bidders stepped up at a New York auction to buy the debt.
Full Article...Miami commercial real estate, Miami Beach real estate
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