The Real Deal Miami

Oriole homes to fold

September 03, 2008 11:56AM

Boca Raton builder Oriole Homes declared it was insolvent, filing the
declaration last month in Palm Beach County Circuit Court. Phil von
Kahle, the court-appointed assignee and managing director of Michael
Moecker & Associates in Fort Lauderdale, said he was inspecting the
company’s inventory and assets. Oriole Homes has stopped work on its
Mayfair at Lawnwood condos in Fort Pierce and another development in
Celebration, von Kahle said. Lender Ocean Bank of Miami this year filed
foreclosure proceedings on both properties. Oriole Homes was founded in
1963 by the Levy family.