The Real Deal Miami

Ft. Lauderdale condo could be seized

August 05, 2008 11:10AM

A proposed Chapter 11 reorganization plan filed by the Fort Lauderdale condo development Strada 315 would put Lubert Adler Strada Note Holder — a company managed by the Related Group and affiliated with private equity firm Lubert-Adler Partners — in possession of the condo’s remaining 50 units. LASNH acquired the 117-unit development’s mortgage from Birmingham, Al.-based Regions Bank.