Multifamily Distress

Penn-Florida Files Chapter 11, Avoids Blackstone Foreclosure

Nick of time: Penn-Florida files bankruptcy on Boca Raton Via Mizner apartments, dodging $145M UCC auction

Company sought Chapter 11 reorganization on Wednesday, prior to the foreclosure sale scheduled for the same day

Icon Realty gets its workout in, saves 19-building portfolio

Firm had defaulted in May on $109M loan

Blackstone Seeks UCC Auction on Penn-Florida’s Via Mizner

Penn-Florida hit with $145M UCC foreclosure on Boca Raton’s Via Mizner, as South Florida multifamily debt woes grow

Lender Blackstone seeks to hold an auction on Jan. 15